Debt

3 Months Ended

Mar. 31, 2022

The Company’s debt consisted of the following:



(In millions)	March 31, 2022		December 31, 2021
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	261	$	240
Finance lease and other financing obligations	291		268
Total short-term and current maturities of long-term debt	$	552	$	508

Long-term debt:

3.500% senior notes due October 2022	$	700	$	700
0.375% senior notes due July 2023 (Euro-denominated)	555		566
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)	687		705
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)	555		566
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)	555		566
3.000% senior notes due July 2031 (British Pound-denominated)	687		705
4.400% senior notes due July 2049	2,000		2,000
U.S. commercial paper notes	685		916
Euro commercial paper notes	1,165		905
Revolving credit facility	—		97
Receivable securitized loan	483		500
Term loan facility	200		200
Unamortized discount and deferred financing costs	(119)		(125)
Finance lease and other financing obligations	465		528
Total long-term debt	$	20,518	$	20,729

The Company was in compliance with all financial debt covenants during the first three months of 2022. 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 March 31, 2022, the 3.50% senior notes due in October 2022 and the receivable securitized loan due in July 2022 were 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.

The Company maintains unsecured U.S. dollar and Euro commercial paper programs. From time to time, the Company may issue under these programs U.S. dollar commercial paper with maturities of up to 397 days from the date of issuance and Euro commercial paper with maturities of up to 183 days from the date of issuance. Outstanding borrowings under the U.S. dollar program were $685 million and $916 million at March 31, 2022 and December 31, 2021, respectively, with weighted average interest rates of 0.749% and 0.295%, respectively. Outstanding borrowings under the Euro program were $1.2 billion and $905 million at March 31, 2022 and December 31, 2021, respectively, with weighted average interest rates of (0.302)% and (0.420)%, respectively. The Company intends to maintain available capacity under its revolving credit facility in an amount at least equal to the aggregate outstanding borrowings under its commercial paper programs. Outstanding borrowings under the commercial paper programs are classified in the consolidated balance sheets as long-term as the Company has the intent to refinance this commercial paper on a long-term basis through the continued issuance of new commercial paper upon maturity, and the Company also has the ability to refinance such commercial paper under its revolving credit facility.