Borrowings and Lines of Credit (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Short-Term Debt [Table Text Block]

(dollars in millions)	September 30, 2019		December 31, 2018
Commercial paper	$	984	$	1,257
Other borrowings	343		212
Total short-term borrowings	$	1,327	$	1,469

Schedule of Long-term Debt [Table Text Block]

Long-term debt consisted of the following:

(dollars in millions)	September 30, 2019		December 31, 2018
LIBOR plus 0.350% floating rate notes due 2019 3	$	350	$	350
1.500% notes due 2019 1	650		650
1.950% notes due 2019 4	—		300
EURIBOR plus 0.15% floating rate notes due 2019 (€750 million principal value) 2	824		858
5.250% notes due 2019 4	—		300
8.875% notes due 2019	271		271
4.875% notes due 2020 1	171		171
4.500% notes due 2020 1	1,250		1,250
1.900% notes due 2020 1	1,000		1,000
EURIBOR plus 0.20% floating rate notes due 2020 (€750 million principal value) 2	824		858
8.750% notes due 2021	250		250
3.100% notes due 2021 4	250		250
3.350% notes due 2021 1	1,000		1,000
LIBOR plus 0.650% floating rate notes due 2021 1,3	750		750
1.950% notes due 2021 1	750		750
1.125% notes due 2021 (€950 million principal value) 1	1,044		1,088

2.300% notes due 2022 1	500			500
2.800% notes due 2022 4	1,100			1,100
3.100% notes due 2022 1	2,300			2,300
1.250% notes due 2023 (€750 million principal value) 1	824			858
3.650% notes due 2023 1	2,250			2,250
3.700% notes due 2023 4	400			400
2.800% notes due 2024 1	800			800
3.200% notes due 2024 4	950			950
1.150% notes due 2024 (€750 million principal value) 1	824			858
3.950% notes due 2025 1	1,500			1,500
1.875% notes due 2026 (€500 million principal value) 1	549			573
2.650% notes due 2026 1	1,150			1,150
3.125% notes due 2027 1	1,100			1,100
3.500% notes due 2027 4	1,300			1,300
7.100% notes due 2027	141			141
6.700% notes due 2028	400			400
4.125% notes due 2028 1	3,000			3,000
7.500% notes due 2029 1	550			550
2.150% notes due 2030 (€500 million principal value) 1	549			573
5.400% notes due 2035 1	600			600
6.050% notes due 2036 1	600			600
6.800% notes due 2036 1	134			134
7.000% notes due 2038	159			159
6.125% notes due 2038 1	1,000			1,000
4.450% notes due 2038 1	750			750
5.700% notes due 2040 1	1,000			1,000
4.500% notes due 2042 1	3,500			3,500
4.800% notes due 2043 4	400			400
4.150% notes due 2045 1	850			850
3.750% notes due 2046 1	1,100			1,100
4.050% notes due 2047 1	600			600
4.350% notes due 2047 4	1,000			1,000
4.625% notes due 2048 1	1,750			1,750
Project financing obligations 5	307			287
Other (including finance leases)	279			287
Total principal long-term debt	43,600			44,416
Other (fair market value adjustments, discounts and debt issuance costs)	(323		)	(348		)
Total long-term debt	43,277			44,068
Less: current portion	5,495			2,876
Long-term debt, net of current portion	$	37,782		$	41,192

1 We may redeem these notes at our option pursuant to their terms.

2 The three-month EURIBOR rate as of September 30, 2019 was approximately -0.418%. The notes may be redeemed at our option in whole, but not in part, at any time in the event of certain developments affecting U.S. taxation.

3 The three-month LIBOR rate as of September 30, 2019 was approximately 2.0851%.

4 Rockwell Collins debt which remained outstanding following the Rockwell Acquisition.

5

Project financing obligations are associated with the sale of rights to unbilled revenues related to the ongoing activity of an entity owned by Carrier.

Schedule of Weighted average interest rates [Table Text Block]

The average interest expense rate on our total borrowings for the quarters and nine months ended September 30, 2019 and 2018 were as follows:

	Quarter Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Average interest expense rate	3.7	%	3.6	%	3.7	%	3.5	%