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Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt as of March 31, 2024, and December 31, 2023, consisted of the following (in millions):

						March 31, 2024
												Weighted
												Average
						Interest						Interest												March 31,						December 31,
						Rates						Rate (1)						Maturities						2024						2023
Fixed Rate Notes
Senior USD Notes						1.2% - 5.6%						3.7%						2025 - 2052						$	6,381					$	8,659
Senior Euro Notes						0.6% - 3.0%						2.6%						2024 - 2039						4,858						4,968
Senior GBP Notes						2.3% - 3.4%						9.9%						2029 - 2031						215						1,178
Revolving Credit Facility (2)												—%						2026						—						127
Financing obligations for certain hardware and software																		2024 - 2026						91						96
Other (3)																								(351)						(710)
Total long-term debt, including current portion																								11,194						14,318
Current portion of long-term debt																								(587)						(1,348)
Long-term debt, excluding current portion																								$	10,607					$	12,970

(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 10). 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)Other includes the amount of fair value basis adjustments due to interest rate swaps (see further discussion below in Note 10), unamortized debt issuance costs and unamortized non-cash bond discounts.

Schedule of Short-Term Debt

Short-term borrowings as of March 31, 2024, and December 31, 2023, consisted of the following (in millions):

						March 31, 2024
						Weighted
						Average
						Interest												March 31,						December 31,
						Rate						Maturities						2024						2023
Euro-commercial paper notes ("ECP Notes")						—		%				Up to 183 days						$	—					$	2,118
U.S. commercial paper notes ("USCP Notes")						—		%				Up to 397 days						—						2,642
Total Short-term borrowings																		$	—					$	4,760

Schedule of Principal Maturities of Long-Term Debt

The following table summarizes the amount of our long-term debt, including financing obligations for certain hardware and software, as of March 31, 2024, based on maturity date.

						Total
2024						$	590
2025						986
2026						1,267
2027						1,580
2028						1,654
Thereafter						5,468
Total principal payments						11,545
Other debt per the long-term debt table						(351)
Total long-term debt, including current portion						$	11,194

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