DEBT AND FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 30, 2020

The carrying value of our outstanding debt as of September 30, 2020 and December 31, 2019 consisted of the following (in millions):


	Principal Amount			Carrying Value
			Maturity	2020		2019
Commercial paper	$	1,202	2021	$	1,202	$	3,234

Fixed-rate senior notes:
3.125% senior notes	1,500		2021	1,516		1,524
2.050% senior notes	700		2021	700		699
2.450% senior notes	1,000		2022	1,031		1,003
2.350% senior notes	600		2022	599		598
2.500% senior notes	1,000		2023	996		995
2.800% senior notes	500		2024	497		497
2.200% senior notes	400		2024	398		398
3.900% senior notes	1,000		2025	995		—
2.400% senior notes	500		2026	498		498
3.050% senior notes	1,000		2027	993		992
3.400% senior notes	750		2029	745		745
2.500% senior notes	400		2029	397		397
4.450% senior notes	750		2030	743		—
6.200% senior notes	1,500		2038	1,483		1,483
5.200% senior notes	500		2040	493		—
4.875% senior notes	500		2040	490		490
3.625% senior notes	375		2042	368		368
3.400% senior notes	500		2046	491		491
3.750% senior notes	1,150		2047	1,137		1,136
4.250% senior notes	750		2049	742		742
3.400% senior notes	700		2049	688		688
5.300% senior notes	1,250		2050	1,231		—
Floating-rate senior notes:
Floating-rate senior notes	350		2021	350		349
Floating-rate senior notes	400		2022	399		399
Floating-rate senior notes	500		2023	499		499
Floating-rate senior notes	1,039		2049-2067	1,027		1,028
8.375% Debentures:
8.375% debentures	—		2020	—		426
8.375% debentures	276		2030	281		281
Pound Sterling notes:
5.500% notes	86		2031	85		86
5.125% notes	585		2050	554		566
Euro senior notes:
0.375% notes	820		2023	816		779
1.625% notes	820		2025	816		779
1.000% notes	585		2028	582		556
1.500% notes	585		2032	582		556
Floating-rate senior notes	—		2020	—		559
Canadian senior notes:
2.125% notes	560		2024	558		571
Finance lease obligations	411		2020-2210	411		498
Facility notes and bonds	320		2029-2045	320		320
Other debt	5		2020-2025	5		8
Total debt	$	25,869		25,718		25,238
Less: Current maturities				(2,382)		(3,420)
Long-term debt				$	23,336	$	21,818

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details