Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value of our commercial paper includes a discount and other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of December 31, 2019 and December 31, 2018.



	As of December 31, 2019				As of December 31, 2018
	(in millions)				(in millions)
Debt:	Carrying Amount		Fair value		Carrying Amount		Fair value
Commercial Paper	$	1,311	$	1,314	$	951	$	953
Other short-term debt	10		10		—		—
2020 Senior Notes	1,248		1,259		1,246		1,244
2022 Senior Notes	497		505		496		484
2023 Senior Notes	398		420		397		402
October 2023 Senior Notes	794		855		793		821
2025 Senior Notes	1,244		1,355		1,243		1,258
2027 Senior Notes	496		526		496		477
2028 Senior Notes	592		657		591		599
2048 Senior Notes	1,229		1,490		1,228		1,236
Total debt	$	7,819	$	8,391	$	7,441	$	7,474