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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

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

						December 31, 2020
												Weighted
												Average
						Interest						Interest												December 31,
						Rates						Rate						Maturities						2020						2019
Fixed Rate Notes
Senior USD Notes						3.0% - 5.0%						3.7%						2023 - 2048						$	4,938					$	4,938
Senior Euro Notes						0.1% - 3.0%						1.1%						2021 - 2039						8,891						8,694
Senior GBP Notes						1.7% - 3.4%						2.7%						2022 - 2031						2,526						2,440
Senior Euro Floating Rate Notes												—%						2021						613						561
Revolving Credit Facility (1)												1.3%						2023						251						600
Other																								46						136
Total long-term debt, including current portion																								17,265						17,369
Current portion of long-term debt																								(1,314)						(140)
Long-term debt, excluding current portion																								$	15,951					$	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.

Schedule of Short-term Debt

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

			December 31, 2020
			Weighted
			Average
			Interest												December 31,
			Rate						Maturities						2020						2019
Euro-commercial paper notes ("ECP Notes")			(0.3)		%				Up to 183 days						$	861					$	2,523
U.S. commercial paper notes ("USCP Notes")			0.4		%				Up to 397 days						1,745						200
Other															144						100
Total Short-term borrowings															$	2,750					$	2,823

Schedule of Principal Maturities of 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 swaps discussed below and net unamortized non-cash bond premiums and discounts of $29 million as of December 31, 2020 (in millions):

			Total
2021			$	1,314
2022			1,669
2023			2,508
2024			1,020
2025			2,238
Thereafter			8,634
Total principal payments			17,383
Debt issuance costs, net of accumulated amortization			(89)
Total long-term debt			$	17,294

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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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