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Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2021

Financing Arrangements

Schedule of debt


		2021						2020
		Carrying			Fair			Carrying			Fair
(in millions)		Value			Value			Value			Value
2.900% senior notes due June 1, 2030		$	595		$	619		$	594		$	596
3.200% senior notes due October 1, 2026			498			531			497			500
3.900% senior notes due June 1, 2050			390			455			390			395
6.625% senior notes due April 15, 2037			253			350			253			246
Revolving credit agreement			—			—			—			—
Other long-term borrowings			2			2			14			14
Total long-term debt			1,738			1,957			1,748			1,751
Term loan credit agreement due April 12, 2021			—			—			380			380
Commercial paper			250			250			—			—
Other short-term borrowings			58			58			58			58
Total short-term borrowings			308			308			438			438
Total debt		$	2,046		$	2,265		$	2,186		$	2,189