Debt and Banking Arrangements

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt and Banking Arrangements [Text Block]

Note 8 – Debt and Banking Arrangements

Long-Term Debt

Issuances and retirements

On January 18, 2022, we early retired $1.25 billion of 3.6 percent senior unsecured notes due March 15, 2022.

Commercial Paper Program

At March 31, 2022, no commercial paper was outstanding under our $3.5 billion commercial paper program.

Credit Facility

	March 31, 2022
	Stated Capacity		Outstanding
	(Millions)
Long-term credit facility (1)	$	3,750	$	—
Letters of credit under certain bilateral bank agreements			16

(1)In managing our available liquidity, we do not expect a maximum outstanding amount in excess of the capacity of our credit facility inclusive of any outstanding amounts under our commercial paper program.