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Debt (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

The following table sets forth our outstanding debt:



	December 31,
	2019			2018
	(In millions)
5.95% senior notes due 2020	$	749		$	748
2.5% (€650 million) senior notes due 2022	725			740
4.5% senior notes due 2024	497			496
5.0% senior notes due 2026	743			742
3.8% senior notes due 2028	992			991
3.25% senior dues due 2030	1,232			—
Total debt⁽¹⁾	4,938			3,717
Current maturities of long-term debt	(749		)	—
Long-term debt,excluding current maturities	$	4,189		$	3,717

___________________________________

(1)

Net of discounts and debt issuance costs.

Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long Term Debt Outstanding

The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs):



	December 31,
	2019		2018
	(In millions)
5.95% senior notes due 2020	$	767	$	778
2.5% (€650 million) senior notes due 2022⁽¹⁾	764		771
4.5% senior notes due 2024	536		504
5.0% senior notes due 2026	825		760
3.8% senior notes due 2028	1,021		915
3.25% senior notes due 2030	1,206		—

___________________________________

(1)

Approximately 682 million Euro as of December 31, 2019 and 674 million Euro as of December 31, 2018.

- 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.

+ References

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+ Details