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DEBT (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Summary of Outstanding Debt
Outstanding debt at June 30, 2024 and December 31, 2023 consists of the following (in millions): 
June 30, 2024December 31, 2023
Outstanding
 Principal 
Amount
Carrying
 Value (1)
Outstanding
 Principal 
Amount
Carrying
 Value (1)
2.375% (€1 Billion) Senior Notes due September 2024 (2) (3)
$1,072 $1,071 $1,105 $1,104 
3.65% Senior Notes due March 2025 (2)
500 500 500 499 
0.1% (€950 Million) Senior Notes due March 2025 (2)
1,018 1,017 1,050 1,048 
0.75% Convertible Senior Notes due May 2025 (2) (3)
862 859 862 857 
3.6% Senior Notes due June 2026
1,000 998 1,000 998 
4.0% (€750 Million) Senior Notes due November 2026
804 802 828 825 
1.8% (€1 Billion) Senior Notes due March 2027
1,072 1,070 1,105 1,103 
3.55% Senior Notes due March 2028
500 499 500 499 
0.5% (€750 Million) Senior Notes due March 2028
804 801 828 825 
3.625% (€500 Million) Senior Notes due November 2028
536 533 552 549 
3.5% (€500 Million) Senior Notes due March 2029
536 533 — — 
4.25% (€750 Million) Senior Notes due May 2029
804 799 828 823 
4.625% Senior Notes due April 2030
1,500 1,493 1,500 1,492 
4.5% (€1 Billion) Senior Notes due November 2031
1,072 1,065 1,105 1,098 
3.625% (€650 Million) Senior Notes due March 2032
697 693 — — 
4.125% (€1.25 Billion) Senior Notes due May 2033
1,339 1,326 1,381 1,367 
4.75% (€1 Billion) Senior Notes due November 2034
1,072 1,064 1,105 1,097 
3.75% (€850 Million) Senior Notes due March 2036
910 897 — — 
4.0% (€750 Million) Senior Notes due March 2044
804 788 — — 
Total outstanding debt$16,902 $16,808 $14,249 $14,184 
Short-term debt$3,452 $3,447 $1,967 $1,961 
Long-term debt$13,450 $13,361 $12,282 $12,223 
(1)    The carrying values differ from the outstanding principal amounts due to unamortized debt discounts and debt issuance costs of $94 million and $65 million as of June 30, 2024 and December 31, 2023, respectively.
(2)    Included in "Short-term debt" in the Unaudited Consolidated Balance Sheet as of June 30, 2024.
(3)    Included in "Short-term debt" in the Consolidated Balance Sheet as of December 31, 2023.
Schedule of other senior notes issued
The following table summarizes the information related to other senior notes issued in March 2024:
Other Senior Notes
Effective Interest Rate (1)
Timing of Interest Payments
3.5% Senior Notes due March 2029
3.61%Annually in March
3.625% Senior Notes due March 2032
3.71%Annually in March
3.75% Senior Notes due March 2036
3.92%Annually in March
4.0% Senior Notes due March 2044
4.15%Annually in March
(1)    Represents the coupon interest rate adjusted for deferred debt issuance costs, premiums or discounts existing at the origination of the debt.