Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair values of our senior notes were estimated using quoted market prices for these 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 September 30, 2020. The fair value for our $750 million term loan approximates par value since the interest rates on this debt approximate market rates as of September 30, 2020.

	As of September 30, 2020
	(in millions)
Debt:	Carrying Amount		Fair value
Commercial Paper	$	2,460	$	2,463
Other short-term debt	3		3
2022 Term Loan	747		750
2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)	498		518
2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023)	1,244		1,258
2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)	994		1,004
2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023)	398		433
2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023)	795		881
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)	1,245		1,419
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)	496		553
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)	593		696
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)	1,231		1,293
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)	1,481		1,497
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)	1,229		1,253
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)	1,230		1,553
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)	1,219		1,316
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)	1,469		1,519
Total debt	$	17,332	$	18,409