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Debt (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of debt | Debt consisted of the following (in millions):
| June 30, 2023 |  | December 31, 2022
SHORT-TERM DEBT |  |  |
Senior notes: |  |  |
2.85% senior notes due January 2023 (1) | $ | — |  |  | $ | 400 |
3.85% senior notes due October 2023 | 700 |  |  | 700 |
Other | 9 |  |  | 59 |
Total short-term debt | 709 |  |  | 1,159 |
LONG-TERM DEBT |  |  |
Senior notes, net of unamortized discounts and debt issuance costs of $44 and $46, respectively | 7,239 |  |  | 7,237 |
Other | 49 |  |  | 50 |
Total long-term debt | 7,288 |  |  | 7,287 |
Total debt (2) | $ | 7,997 |  |  | $ | 8,446 |
(1)These senior notes were redeemed on January 31, 2023. (2)Our fixed-rate senior notes had a face value of approximately $8.0 billion and $8.4 billion as of June 30, 2023 and December 31, 2022, respectively. We estimated the aggregate fair value of these notes as of June 30, 2023 and December 31, 2022 to be approximately $7.3 billion and $7.6 billion, respectively. Our fixed-rate senior notes are traded among institutions, and these trades are routinely published by a reporting service. Our determination of fair value is based on reported trading activity near the end of the reporting period. The fair value estimate for our senior notes is based upon observable market data and is classified in Level 2 of the fair value hierarchy.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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