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Debt (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Instrument [Line Items] |
Components of Debt | Debt consisted of the following at December 31:
(DOLLARS IN MILLIONS) | Effective Interest Rate |  | 2021 |  | 2020
2021 Euro Notes(1) | 0.82 | % |  | $ | — |  |  | $ | 368 |
2022 Notes(3) | 0.69 | % |  | 300 |  |  | — |
2023 Notes(1) | 3.30 | % |  | 300 |  |  | 299 |
2024 Euro Notes(1) | 1.88 | % |  | 565 |  |  | 614 |
2025 Notes(3) | 1.22 | % |  | 1,001 |  |  | — |
2026 Euro Notes(1) | 1.93 | % |  | 900 |  |  | 978 |
2027 Notes(3) | 1.56 | % |  | 1,218 |  |  | — |
2028 Notes(1) | 4.57 | % |  | 397 |  |  | 397 |
2030 Notes(3) | 2.21 | % |  | 1,511 |  |  | — |
2040 Notes(3) | 3.04 | % |  | 775 |  |  | — |
2047 Notes(1) | 4.44 | % |  | 494 |  |  | 494 |
2048 Notes(1) | 5.12 | % |  | 786 |  |  | 786 |
2050 Notes(3) | 3.21 | % |  | 1,572 |  |  | — |
2018 Term Loan Facility(1) | 3.65 | % |  | — |  |  | 240 |
2022 Term Loan Facility(1) | 1.73 | % |  | — |  |  | 199 |
2024 Term Loan Facility(3) | 1.43 | % |  | 625 |  |  | — |
2026 Term Loan Facility(3) | 1.82 | % |  | 625 |  |  | — |
Amortizing Notes(1) | 6.09 | % |  | — |  |  | 36 |
Commercial Paper(4) | — | % |  | 324 |  |  | — |
Bank overdrafts and other |  |  | 7 |  |  | 2 |
Total debt |  |  | $ | 11,400 |  |  | $ | 4,413 |
Less: Short term borrowings(2) |  |  | (632) |  |  | (634) |
Total Long-term debt |  |  | $ | 10,768 |  |  | $ | 3,779 |
_______________________ (1)Amount is net of unamortized discount and debt issuance costs. (2)Includes bank borrowings, overdrafts, current portion of long-term debt and commercial paper. (3)Assumed by the Company as part of the N&B Merger and recorded at fair value. (4)The effective interest rate of commercial paper issuances fluctuate as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Additionally, the effective interest rate of commercial paper is not meaningful as issuances do not materially differ from short-term interest rates. Proceeds from the issuance of commercial paper include $75 million of proceeds with original maturities greater than three months.
Debt Instrument Redemption | However, no make-whole premium will be paid for redemptions of each note on or after the following date:
Note |  | Redemption Date
2023 Notes |  | February 1, 2023
2024 Euro Notes |  | December 14, 2023
2026 Euro Notes |  | June 25, 2026
2028 Notes |  | June 26, 2028
2047 Notes |  | December 1, 2046
2048 Notes |  | March 26, 2048
Schedule of Maturities of Long-term Debt | The following table shows the contractual maturities of the Company's long-term debt as of December 31, 2021.
| Payments Due by Period
(DOLLARS IN MILLIONS) | Total |  | Less than 1 Year |  | 1-3 Years |  | 3-5 Years |  | More than 5 Years
Total Outstanding Borrowings | $ | 10,971 |  |  | $ | 300 |  |  | $ | 1,491 |  |  | $ | 2,530 |  |  | $ | 6,650 |
Nutrition & Biosciences, Inc [Member] |
Debt Instrument [Line Items] |
Debt Instrument Redemption | The redemption dates of each of the N&B Senior Notes are provided in the table below:
Notes | Redemption Date
2022 Notes | September 15, 2022
2025 Notes | September 1, 2025
2027 Notes | August 15, 2027
2030 Notes | August 1, 2030
2040 Notes | May 15, 2040
2050 Notes | June 1, 2050

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- Definition Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption. + References No definition available. + Details
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