v3.20.4

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following table summarizes the outstanding long-term debt as of December 31, 2020 and 2019:

			2020																		2019
			Maturities						Amount						Effective rate						Amount						Effective rate
Fixed-rate 4.125% senior unsecured notes			Jun, 2021						—						4.125						1,350						4.125
Fixed-rate 4.625% senior unsecured notes			Jun, 2022						—						4.625						400						4.625
Fixed-rate 3.875% senior unsecured notes			Sep, 2022						1,000						3.875						1,000						3.875
Fixed-rate 4.625% senior unsecured notes			Jun, 2023						900						4.625						900						4.625
Fixed-rate 4.875% senior unsecured notes			Mar, 2024						1,000						4.875						1,000						4.875
Fixed-rate 2.7% senior unsecured notes			May, 2025						500						2.700						—						—
Fixed-rate 5.35% senior unsecured notes			Mar, 2026						500						5.350						500						5.350
Fixed-rate 3.875% senior unsecured notes			Jun, 2026						750						3.875						750						3.875
Fixed-rate 3.15% senior unsecured notes			May, 2027						500						3.150						—						—
Fixed-rate 5.55% senior unsecured notes			Dec, 2028						500						5.550						500						5.550
Fixed-rate 4.3% senior unsecured notes			Jun, 2029						1,000						4.300						1,000						4.300
Fixed-rate 3.4% senior unsecured notes			May, 2030						1,000						3.400						—						—
Floating-rate revolving credit facility (RCF)			Jun, 2024						—						—						—						—
Total principal									7,650												7,400
Unamortized discounts, premiums and debt issuance costs									(41)												(35)
Total debt, including unamortized discounts, premiums, debt issuance costs and fair value adjustments									7,609												7,365
Current portion of long-term debt									—												—
Long-term debt									7,609												7,365

Schedule of Long-Term Debt

			Range of interest rates						Average rate of interest						Principal amount outstanding 2020						Due in 2021						Due after 2021						Due after 2025						Average remaining term (in years)						Principal amount outstanding 2019
USD notes			2.7%-5.6%						4.2		%				7,650						—						7,650						4,250						5.3						7,400
Revolving Credit Facility (1)			—		%				—		%				—						—						—						—						—						—
Bank borrowings			—		%				—		%				—						—						—						—						—						—
									4.2		%				7,650						—						7,650						4,250						5.3						7,400

(1)We do not have any borrowings under the $1,500 million Revolving Credit Facility as of December 31, 2020 and 2019.

Principal Amounts of Long-Term Debt

As of December 31, 2020, the following principal amounts of long-term debt are due in the next 5 years:

2021			—
2022			1,000
2023			900
2024			1,000
2025			500
Due after 5 years			4,250
			7,650

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