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Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt as of June 30, 2020, and December 31, 2019, consists of the following (in millions):

						June 30, 2020
												Weighted
												Average
						Interest						Interest												June 30,						December 31,
						Rates						Rate						Maturities						2020						2019
Fixed Rate Notes
Senior USD Notes						3.0% - 5.0%						3.8%						2023 - 2048						$	4,938					$	4,938
Senior Euro Notes						0.1% - 3.0%						1.1%						2021 - 2039						8,702						8,694
Senior GBP Notes						1.7% - 3.4%						2.7%						2022 - 2031						2,280						2,440
Senior Euro Floating Rate Notes												0.1%						2021						561						561
Revolving Credit Facility (1)												1.3%						2023						95						600
Other																								75						136
Total long-term debt, including current portion																														16,651						17,369
Current portion of long-term debt																								(1,777)						(140)
Long-term debt, excluding current portion																														$	14,874					$	17,229

(1)Interest on the Revolving Credit Facility is generally payable at LIBOR plus an applicable margin of up to 1.625% plus an unused commitment fee of up to 0.225%, each based upon the Company's corporate credit ratings. The weighted average interest rate on the Revolving Credit Facility excludes fees.

Short-term Debt

Short-term borrowings as of June 30, 2020, and December 31, 2019, consists of the following (in millions):

						June 30, 2020
						Weighted
						Average
						Interest												June 30,						December 31,
						Rate						Maturities						2020						2019
Euro-commercial paper notes ("ECP Notes")						0.2		%				Up to 183 days						$	2,468					$	2,523
U.S. commercial paper notes ("USCP Notes")						0.4		%				Up to 397 days						650						200
Other																		99						100
Total Short-term borrowings																		$	3,217					$	2,823

Principal Maturities of Long-term Debt

The following summarizes the aggregate maturities of our long-term debt, including other financing obligations for certain hardware and software, based on stated contractual maturities, excluding the fair value of the interest rate swap discussed below and net unamortized non-cash bond premiums and discounts of $27 million, as of June 30, 2020 (in millions):

						Total
2020 remaining period						$	67
2021						1,744
2022						1,527
2023						2,221
2024						967
Thereafter						10,252
Total principal payments						16,778
Debt issuance costs, net of accumulated amortization						(100)
Total long-term debt						$	16,678

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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

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