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Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
The following table provides information on the principal amount of our outstanding debt balances:
June 30, 2024December 31, 2023
(In millions, unless otherwise stated)
Current portion of debt
$3.5 billion credit facility due August 20, 2027
$— $— 
Commercial paper notes(a)735 1,989 
Current portion of senior notes
4.15% due February 2024
— 650 
4.30% due May 2024
— 600 
4.25% due September 2024
650 650 
4.30% due June 2025
1,500 — 
Trust I preferred securities, 4.75%, due March 2028(b)
111 111 
Current portion of other debt66 49 
Total current portion of debt3,062 4,049 
Long-term debt (excluding current portion)
Senior notes27,989 27,255 
EPC Building, LLC, promissory note, 3.967%, due 2023 through 2035
300 311 
Trust I preferred securities, 4.75%, due March 2028
110 110 
Other161 204 
Total long-term debt28,560 27,880 
Total debt(c)$31,622 $31,929 
(a)Weighted average interest rate on borrowings at June 30, 2024 and December 31, 2023 was 5.52% and 5.68%, respectively.
(b)Reflects the portion of cash consideration payable if all the outstanding securities as of the end of the reporting period were converted by the holders.
(c)Excludes our “Debt fair value adjustments” which, as of June 30, 2024 and December 31, 2023, increased our total debt balances by $89 million and $187 million, respectively.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The carrying value and estimated fair value of our outstanding debt balances are disclosed below:
June 30, 2024December 31, 2023
Carrying
value		Estimated
fair value(a)		Carrying
value		Estimated
fair value(a)
(In millions)
Total debt$31,711 $30,540 $32,116 $31,370 
(a)Included in the estimated fair value are amounts for our Trust I Preferred Securities of $206 million and $207 million as of June 30, 2024 and December 31, 2023, respectively.