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v3.21.2

Debt - Components (Details) - USD ($) $ in Millions |  | 3 Months Ended | 9 Months Ended |  |
--- | --- | --- | --- | --- | ---
Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Jul. 27, 2021 | Dec. 31, 2020
Financing Arrangements |  |  |  |  |  |
Long-term debt |  | $ 1,748 | $ 1,748 |  |  | $ 1,748
Average amount of commercial paper outstanding |  | 401 |  |  |  |
Commercial paper |  | 350 | 350 |  |  |
Other short-term borrowings |  | 48 | 48 |  |  | 58
Total short-term borrowings |  | 398 | 398 |  |  | 438
Total debt |  | $ 2,146 | 2,146 |  |  | $ 2,186
Payments on debt |  |  | 1,194 | $ 1,186 |  |
Proceeds from Borrowings |  |  | $ 804 | $ 1,527 |  |
2.9% senior notes due June 1, 2030 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Debt, interest rate (as a percent) |  | 2.90% | 2.90% |  |  | 2.90%
Long-term debt |  | $ 594 | $ 594 |  |  | $ 594
3.2% senior notes due October 1, 2026 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Debt, interest rate (as a percent) |  | 3.20% | 3.20% |  |  | 3.20%
Long-term debt |  | $ 498 | $ 498 |  |  | $ 497
3.9% senior notes due June 1, 2050 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Debt, interest rate (as a percent) |  | 3.90% | 3.90% |  |  | 3.90%
Long-term debt |  | $ 390 | $ 390 |  |  | $ 390
6.625% senior notes due April 15, 2037 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Debt, interest rate (as a percent) |  | 6.625% | 6.625% |  |  | 6.625%
Long-term debt |  | $ 253 | $ 253 |  |  | $ 253
Revolving credit agreement |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Debt instrument term | 5 years |  |  |  |  |
Maximum aggregate principal amount | $ 1,000 |  |  |  |  |
Maximum leverage ratio | 3.5 |  |  |  |  |
Minimum ratio of consolidated EBIDTA to consolidated net interest expense | 3.5 |  |  |  |  |
Revolving credit agreement | London Interbank Offered Rate (LIBOR) [Member] |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Basis spread | 1.00% |  |  |  |  |
Other long-term borrowings |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Long-term debt |  | $ 13 | 13 |  |  | 14
Term loan credit agreement due April 12, 2021 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Long-term debt, current |  |  |  |  |  | $ 380
Payments on debt |  |  | $ 380 |  |  |
Applicable interest rate (as a percent) |  |  |  |  |  | 0.80%
Amended term loan credit agreement due March 15, 2022 |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Applicable interest rate (as a percent) |  | 0.75% | 0.75% |  |  |
Commercial paper |  |  |  |  |  |
Financing Arrangements |  |  |  |  |  |
Maximum aggregate principal amount |  |  |  |  | $ 1,000 |
Weighted average interest rate (as a percent) |  |  | 0.28% |  |  |
Weighted average maturity |  |  | 76 days |  |  |

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