Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Carrying value of outstanding debt

The following table summarizes the carrying value of our outstanding debt as of the dates indicated (in millions, except percentages):

	Coupon		As of		Effective		As of		Effective
	Rate		June 30, 2023		Interest Rate		December 31, 2022		Interest Rate
Long-Term Debt
Floating Rate Notes:
Senior notes due 2023	LIBOR plus 0.87%		$	—	—	%	$	400	3.786	%
Fixed Rate Notes:
Senior notes due 2023	2.750	%	—		—	%	750		2.866	%
Senior notes due 2024	3.450	%	750		3.531	%	750		3.531	%
Senior notes due 2025	1.900	%	800		1.803	%	800		1.803	%
Senior notes due 2025	5.900	%	425		6.036	%	425		6.036	%
Senior notes due 2026	1.400	%	750		1.252	%	750		1.252	%
Senior notes due 2027	3.600	%	850		3.689	%	850		3.689	%
Senior notes due 2027	5.950	%	300		6.064	%	300		6.064	%
Senior notes due 2030	2.700	%	950		2.623	%	950		2.623	%
Senior notes due 2031	2.600	%	750		2.186	%	750		2.186	%
Senior notes due 2032	6.300	%	425		6.371	%	425		6.371	%
Senior notes due 2042	4.000	%	750		4.114	%	750		4.114	%
Senior notes due 2051	3.650	%	1,000		2.517	%	1,000		2.517	%
Total senior notes			7,750				8,900
Hedge accounting fair value adjustments (1)			3				5
Unamortized premium/(discount) and debt issuance costs			(32)				(34)
Less: Current portion of long-term debt			—				(1,150)
Total long-term debt			7,721				7,721
Short-Term Debt
Current portion of long-term debt			—				1,150
Total short-term debt			—				1,150
Total Debt			$	7,721			$	8,871

(1) Includes the fair value adjustments to debt associated with terminated interest rate swaps which are being recorded as a reduction to interest expense over the remaining term of the related notes.