Debt (Tables)

3 Months Ended

Mar. 31, 2020

The following table sets forth our outstanding debt:



	March 31, 2020			December 31, 2019
	(In millions)
5.95% senior notes due 2020	$	750		$	749
2.5% (€650 million) senior notes due 2022	715			725
4.5% senior notes due 2024	497			497
5.0% senior notes due 2026	744			743
3.8% senior notes due 2028	992			992
3.25% senior notes due 2030	1,232			1,232
Long-term debt⁽¹⁾	4,930			4,938
Current maturities of long-term debt	(750		)	(749		)
Long-term debt, excluding current maturities	$	4,180		$	4,189

Revolving credit facility	$	1,900		$	—

_______________

(1)

Net of applicable discounts and debt issuance costs.

Level 2

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):



	March 31, 2020		December 31, 2019
	(In millions)
5.95% senior notes due 2020	$	747	$	767
2.5% (€650 million) senior notes due 2022 ⁽¹⁾	691		764
4.5% senior notes due 2024	457		536
5.0% senior notes due 2026	691		825
3.8% senior notes due 2028	875		1,021
3.25% senior notes due 2030	1,150		1,206

_______________

(1)

Approximately 625 million Euro as of March 31, 2020 and 682 million Euro as of December 31, 2019.

- 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