Debt

9 Months Ended

Sep. 30, 2021

The Company’s debt consisted of the following:



(In millions)	September 30, 2021		December 31, 2020
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	155	$	144
Finance lease and other financing obligations	294		240
Total short-term and current maturities of long-term debt	$	449	$	384

Long-term debt:
4.750% senior notes due June 2021	$	—	$	400
3.500% senior notes due October 2022	700		700
0.375% senior notes due July 2023 (Euro-denominated)	579		612
3.800% senior notes due October 2023	1,000		1,000
2.750% senior notes due July 2024	2,000		2,000
3.850% senior notes due June 2025	900		900
2.250% senior notes due July 2025 (British Pound-denominated)	707		709
3.200% senior notes due July 2026	2,000		2,000
2.250% senior notes due June 2027	1,000		1,000
1.125% senior notes due July 2027 (Euro-denominated)	579		612
4.200% senior notes due October 2028	1,000		1,000
3.500% senior notes due July 2029	3,000		3,000
2.650% senior notes due June 2030	1,000		1,000
1.625% senior notes due July 2030 (Euro-denominated)	579		612
3.000% senior notes due July 2031 (British Pound-denominated)	707		709
4.400% senior notes due July 2049	2,000		2,000
Receivable securitized loan	500		425
Term loan facility	355		1,250
Unamortized discount and deferred financing costs	(131)		(155)
U.S. commercial paper notes	1,377		—
Revolving credit facility	107		22
Finance lease and other financing obligations	581		504
Total long-term debt	$	20,540	$	20,300

The Company was in compliance with all financial debt covenants during the first nine months of 2021. The Company maintains an amended and restated revolving credit facility, which matures in September 2023, with aggregate commitments available for $3.5 billion of total capacity. At September 30, 2021, the receivable securitized loan due in July 2022 was classified in the consolidated balance sheet as long-term, as the Company has the intent to refinance this debt on a long-term basis and the ability to do so under its revolving credit facility.

In May 2021, the Company initiated a U.S. unsecured commercial paper notes program, the proceeds of which are to be used for general corporate purposes. The Company may issue, from time to time, commercial paper notes with maturities of up to 397 days from the date of issuance. Outstanding borrowings under the program were $1.4 billion at September 30, 2021, with a weighted average interest rate of 0.189%. The Company intends to maintain available capacity under its revolving credit facility in an amount at least equal to the outstanding borrowings under its commercial paper notes program. Outstanding borrowings under the commercial paper notes program are classified in the consolidated balance sheet as long-term, as the Company has the intent to refinance these notes on a long-term basis through the continued issuance of new commercial paper notes upon maturity, and the Company also has the ability to refinance such notes under its revolving credit facility.

During the nine months ended September 30, 2021, the Company used the net proceeds from the issuance of commercial paper notes to repay borrowings outstanding under its amended and restated revolving credit facility as of the issuance date, to repay the 4.750% senior notes that matured in June 2021, and to pay down outstanding borrowings on its term loan facility.