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Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-term debt

Long-term debt as of March 31, 2021, and December 31, 2020, consists of the following (in millions):

						March 31, 2021
												Weighted
												Average
						Interest						Interest												March 31,						December 31,
						Rates						Rate						Maturities						2021						2020
Fixed Rate Notes
Senior USD Notes						0.4% - 4.8%						1.9%						2023 - 2048						$	6,909					$	4,938
Senior Euro Notes						0.1% - 3.0%						1.3%						2022 - 2039						7,916						8,891
Senior GBP Notes						1.7% - 3.4%						1.5%						2022 - 2031						1,686						2,526
Senior Euro Floating Rate Notes												0.0%						2021						523						613
Revolving Credit Facility (1)												—%						2026						—						251
Other																								(132)						46
Total long-term debt, including current portion																								16,902						17,265
Current portion of long-term debt																								(602)						(1,314)
Long-term debt, excluding current portion																								$	16,300					$	15,951

(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 March 31, 2021, and December 31, 2020, consist of the following (in millions):

						March 31, 2021
						Weighted
						Average
						Interest												March 31,						December 31,
						Rate						Maturities						2021						2020
Euro-commercial paper notes ("ECP Notes")						(0.5)		%				Up to 183 days						$	243					$	861
U.S. commercial paper notes ("USCP Notes")						0.3		%				Up to 397 days						2,129						1,745
Other																		165						144
Total Short-term borrowings																		$	2,537					$	2,750

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 swaps discussed below and net unamortized non-cash bond premiums and discounts of $(141) million as of March 31, 2021 (in millions):

						Total
2021 remaining period						$	578
2022						1,623
2023						2,234
2024						1,343
2025						739
Thereafter						10,646
Total principal payments						17,163
Debt issuance costs, net of accumulated amortization						(120)
Total long-term debt						$	17,043

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