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v3.23.1

Revolving Credit Facility and Commercial Paper Programs (Details) € in Millions, £ in Millions | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2023 USD ($) currency extension | Mar. 31, 2022 | Mar. 31, 2023 GBP (£) extension | Mar. 31, 2023 EUR (€) extension | Dec. 31, 2022 USD ($) | Dec. 31, 2022 GBP (£) | Dec. 31, 2022 EUR (€)
Credit facility |  |  |  |  |  |  |
Credit facility origination costs | $ 15,963,000 |  |  |  | $ 17,196,000 |  |
Commercial paper borrowings outstanding | $ 157,500,000 |  |  | € 145.0 | 701,800,000 |  | € 361.0
Weighted average interest rate at the end of the period (as a percent) | 3.10% |  | 3.10% | 3.10% |  |  |
Unsecured debt | U.S. Dollar-Denominated Unsecured Commercial Paper Program |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Maximum aggregate capacity of commercial paper program | $ 1,500,000,000 |  |  |  |  |  |
Unsecured debt | Euro-Denominated Unsecured Commercial Paper Program |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Maximum aggregate capacity of commercial paper program | 1,500,000,000 |  |  |  |  |  |
Revolving credit facility | Unsecured debt |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Credit facility origination costs | 16,000,000 |  |  |  | 17,200,000 |  |
Current borrowing capacity | 3,100,000,000 |  |  |  |  |  |
Outstanding balance | $ 1,100,000,000 |  |  |  | $ 2,000,000,000 | £ 70.0 | € 1,800.0
Weighted average borrowing rate during the period (as a percent) | 3.70% | 1.10% |  |  |  |  |
Weighted average interest rate at the end of the period (as a percent) | 5.40% |  | 5.40% | 5.40% |  |  |
Revolving credit facility | Unsecured debt | USD |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Outstanding balance | $ 770,000,000 |  |  |  |  |  |
Revolving credit facility | Unsecured debt | GBP |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Outstanding balance | £ |  |  | £ 305.0 |  |  |  |
Revolving credit facility | Unsecured debt | Multicurrency Credit Facility |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Maximum borrowing capacity | $ 4,250,000,000 |  |  |  |  |  |
Number of extensions | extension | 2 |  | 2 | 2 |  |  |
Term of extension option | 6 months |  |  |  |  |  |
Number of currencies allowable per facility | currency | 14 |  |  |  |  |  |
Credit facility expansion option | $ 1,000,000,000 |  |  |  |  |  |
Revolving credit facility | Unsecured debt | Secured Overnight Financing Rate (SOFR) | Multicurrency Credit Facility |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) | 0.725% |  |  |  |  |  |
Basis spread on variable rate, adjustment chare (as a percent) | 0.10% |  |  |  |  |  |
Commitment fee (as a percent) | 0.125% |  |  |  |  |  |
All-in drawn variable interest rate (as a percent) | 0.95% |  |  |  |  |  |
Revolving credit facility | Unsecured debt | Sterling Overnight Indexed Average (SONIA) | Multicurrency Credit Facility |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) | 0.725% |  |  |  |  |  |
Basis spread on variable rate, adjustment chare (as a percent) | 0.0326% |  |  |  |  |  |
Commitment fee (as a percent) | 0.125% |  |  |  |  |  |
All-in drawn variable interest rate (as a percent) | 0.8826% |  |  |  |  |  |
Revolving credit facility | Unsecured debt | Euro Interbank Offered Rate (EURIBOR) | Multicurrency Credit Facility |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) | 0.725% |  |  |  |  |  |
Commitment fee (as a percent) | 0.125% |  |  |  |  |  |
All-in drawn variable interest rate (as a percent) | 0.85% |  |  |  |  |  |
Commercial paper |  |  |  |  |  |  |
Credit facility |  |  |  |  |  |  |
Weighted average borrowing rate during the period (as a percent) | 3.50% | 0.50% |  |  |  |  |

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- Definition Commercial Paper Program, Maximum Aggregate Capacity + References No definition available. + Details
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- Definition Debt Instrument, Basis Spread on Variable Rate, Adjustment Charge + References No definition available. + Details
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- Definition The total of all fees that are fixed as a percentage of the amount of the debt facility as a percentage over LIBOR. + References No definition available. + Details
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- Definition Line Of Credit Facility, Contingent Expansion Option, Additional Borrowing Capacity + References No definition available. + Details
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- Definition Represents the period of time for which extensions are available under a line of credit agreement. + References No definition available. + Details
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- Definition Line Of Credit Facility, Number Of Currencies Allowable + References No definition available. + Details
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- Definition The number of extensions available at the option of the Company. + References No definition available. + Details
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- Definition Carrying value as of the balance sheet date of short-term borrowings using unsecured obligations issued by banks, corporations and other borrowers to investors. The maturities of these money market securities generally do not exceed 270 days. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)(2)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)(3)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Amount, after accumulated amortization, of debt issuance costs related to line of credit arrangements. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section S45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=68176171&loc=SL68176184-208336 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
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- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
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- Definition The effective interest rate at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition The effective interest rate during the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Weighted average interest rate of short-term debt outstanding calculated at point in time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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