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Debt (Tables) | 3 Months Ended
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Mar. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt as of March 31, 2022, and December 31, 2021, consists of the following (in millions):
|  | March 31, 2022 |  |  |  |
|  |  |  | Weighted |  |  |  |  |  |
|  |  |  | Average |  |  |  |  |  |
|  | Interest |  | Interest |  |  |  | March 31, |  | December 31,
|  | Rates |  | Rate (1) |  | Maturities |  | 2022 |  | 2021
Fixed Rate Notes |  |  |  |  |  |  |  |  |  |
Senior USD Notes |  | 0.4% - 4.8% |  | 1.9% |  | 2023 - 2048 |  | $ | 6,909 |  |  | $ | 6,909 |
Senior Euro Notes |  | 0.1% - 3.0% |  | 1.2% |  | 2022 - 2039 |  | 7,502 |  |  | 7,656 |
Senior GBP Notes |  | 1.7% - 3.4% |  | 1.6% |  | 2022 - 2031 |  | 1,609 |  |  | 1,655 |
Revolving Credit Facility (2) |  |  |  | 1.7% |  | 2026 |  | 838 |  |  | 325 |
Other (3) |  |  |  |  |  |  |  | (320) |  |  | (103) |
Total long-term debt, including current portion |  |  |  |  |  | 16,538 |  |  | 16,442 |
Current portion of long-term debt |  |  |  |  |  |  |  | (2,330) |  |  | (1,617) |
Long-term debt, excluding current portion |  |  |  |  |  | $ | 14,208 |  |  | $ | 14,825 |
(1)The weighted average interest rate includes the impact of interest rate swaps (see Note 7). (2)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. (3)Other includes financing obligations for certain hardware and software, the fair value of interest rate swaps (see Note 7), unamortized non-cash bond discounts and unamortized debt issuance costs.
Schedule of Short-Term Debt | Short-term borrowings as of March 31, 2022, and December 31, 2021, consist of the following (in millions):
|  | March 31, 2022 |  |  |  |
|  | Weighted |  |  |  |  |  |
|  | Average |  |  |  |  |  |
|  | Interest |  |  |  | March 31, |  | December 31,
|  | Rate |  | Maturities |  | 2022 |  | 2021
Euro-commercial paper notes ("ECP Notes") |  | (0.3) | % |  | Up to 183 days |  | $ | 1,689 |  |  | $ | 1,723 |
U.S. commercial paper notes ("USCP Notes") |  | 0.8 | % |  | Up to 397 days |  | 993 |  |  | 2,087 |
Other |  |  |  |  |  | — |  |  | 101 |
Total Short-term borrowings |  |  |  |  |  | $ | 2,682 |  |  | $ | 3,911 |
Schedule of 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 (see Note 7) and net unamortized non-cash bond discounts of $(324) million as of March 31, 2022 (in millions):
|  | Total
2022 remaining period |  | $ | 1,563 |
2023 |  | 2,163 |
2024 |  | 1,313 |
2025 |  | 701 |
2026 |  | 2,094 |
Thereafter |  | 9,125 |
Total principal payments |  | 16,959 |
Debt issuance costs, net of accumulated amortization |  | (97) |
Total long-term debt |  | $ | 16,862 |

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- Definition 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. + 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) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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