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Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Summary of Debt

Debt is comprised of the following at the dates indicated (in millions):

			June 30, 2020						December 31, 2019
4.70% senior notes due 2020			$	305					$	305
3.15% senior notes due 2021			94						94
3.75% senior notes due 2021			341						342
4.00% senior notes due 2022			249						249
3.85% senior notes due 2023			1,388						1,388
4.00% senior notes due 2024			200						199
4.875% senior notes due 2025			492						—
3.90% senior notes due 2025			47						47
4.20% senior notes due 2026			1,972						1,986
5.375% senior notes due 2036			416						416
5.50% senior notes due 2046			657						657
Commercial paper			—						25
Other debt			22						15
Total debt			6,183						5,723
Short-term debt and current portion of long-term debt			(402)						(332)
Long-term debt			$	5,781					$	5,391

Schedule of Fair Value of Senior Notes

The fair value of the Company’s senior notes are based upon prices of similar instruments in the marketplace and are as follows (in millions):

			June 30, 2020																		December 31, 2019
			Fair Value						Book Value						Fair Value						Book Value
Senior notes			$	6,466					$	6,161					$	5,990					$	5,683

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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.

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