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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

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

						December 31, 2023
												Weighted
						Stated						Average
						Interest						Interest												December 31,
						Rates						Rate (1)						Maturities						2023						2022
Fixed Rate Notes
Senior USD Notes						0.6% - 5.6%						3.6%						2024 - 2052						$	8,659					$	9,409
Senior Euro Notes						0.6% - 3.0%						2.9%						2024 - 2039						4,968						6,154
Senior GBP Notes						2.3% - 3.4%						7.0%						2029 - 2031						1,178						1,119
Revolving Credit Facility (2)												6.6%						2026						127						280
Incremental Revolving Credit Facility (3)																		2024						—						—
Other (4)																								(614)						(626)
Total long-term debt, including current portion																								14,318						16,336
Current portion of long-term debt																								(1,348)						(2,130)
Long-term debt, excluding current portion																								$	12,970					$	14,206

(1)The weighted average interest rate includes the impact of the fair value basis adjustments due to interest rate swaps and the impact of cross-currency interest rate swaps designated as fair value hedges and excludes the impact of cross-currency interest rate swaps designated as net investment hedges (see Note 14). The impact of the included fair value basis adjustments and cross-currency interest rate swaps in certain cases results in an effective weighted average interest rate being outside the stated interest rate range on the fixed rate notes.

(2)Interest on the Revolving Credit Facility is generally payable at Secured Overnight Financing Rate ("SOFR") plus a margin of up to 0.428% dependent on tenor, plus an applicable margin of up to 1.625% and 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 the amount of fair value basis adjustments due to interest rate swaps (see further discussion below and in Note 14), unamortized debt issuance costs, unamortized non-cash bond discounts, and other financing obligations for certain hardware and software.

Schedule of Short-term Debt

Short-term borrowings as of December 31, 2023 and 2022, consisted of the following (in millions):

			December 31, 2023
			Weighted
			Average
			Interest												December 31,
			Rate						Maturities						2023						2022
Euro-commercial paper notes ("ECP Notes")			4.1		%				Up to 183 days						$	2,118					$	2,054
U.S. commercial paper notes ("USCP Notes")			5.7		%				Up to 397 days						2,642						1,701
Total Short-term borrowings															$	4,760					$	3,755

Schedule of Principal Maturities of Debt

The following table summarizes the amount of our long-term debt based on maturity date.

			Total
2024			$	1,359
2025			1,463
2026			1,393
2027			1,880
2028			1,669
Thereafter			7,264
Total principal payments			15,028
Other debt per the long-term debt table			(614)
Financing obligations for certain hardware and software (1)			(96)
Total long-term debt, including current portion			$	14,318

(1)Financing obligations for certain hardware and software included in the Other debt per the long-term debt table are also included in the total principal amounts summarized by maturity date above.

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