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Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt as of March 31, 2023, and December 31, 2022, consisted of the following (in millions):

						March 31, 2023
												Weighted
												Average
						Interest						Interest												March 31,						December 31,
						Rates						Rate (1)						Maturities						2023						2022
Fixed Rate Notes
Senior USD Notes						0.6% - 5.6%						3.9%						2024 - 2052						$	8,659					$	9,409
Senior Euro Notes						0.6% - 3.0%						1.6%						2023 - 2039						6,256						6,154
Senior GBP Notes						2.3% - 3.4%						6.6%						2029 - 2031						1,144						1,119
Revolving Credit Facility (2)												6.0%						2026						556						280
Incremental Revolving Credit Facility (3)																		2023						—						—
Other (4)																								(571)						(622)
Total long-term debt, including current portion																								16,044						16,340
Current portion of long-term debt																								(2,139)						(2,133)
Long-term debt, excluding current portion																								$	13,905					$	14,207

(1)The weighted average interest rate includes the impact of interest rate swaps and excludes the impact of cross-currency 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)Interest on the Incremental Revolving Credit Facility is generally payable at a rate, at the option of the Company, equal to the Term SOFR Rate plus 0.10% plus a margin of up to 1.625% or equal to the Base Rate plus a margin of up to 0.625%, in either case plus an unused commitment fee of up to 0.225%.

(4)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, 2023, and December 31, 2022, consisted of the following (in millions):

						March 31, 2023
						Weighted
						Average
						Interest												March 31,						December 31,
						Rate						Maturities						2023						2022
Euro-commercial paper notes ("ECP Notes")						3.0		%				Up to 183 days						$	1,924					$	2,054
U.S. commercial paper notes ("USCP Notes")						5.4		%				Up to 397 days						2,044						1,701
Other																		—						42
Total Short-term borrowings																		$	3,968					$	3,797

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 $(552) million as of March 31, 2023 (in millions):

						Total
2023 remaining period						$	1,392
2024						1,311
2025						1,448
2026						1,261
2027						2,416
Thereafter						8,865
Total principal payments						16,693
Debt issuance costs, net of accumulated amortization						(97)
Total long-term debt						$	16,596

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