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Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt Debt
Our total debt, including short-term and long-term debt, consisted of the following (in millions):
As of March 31, 2022As of December 31, 2021
Debt:
Short-term debt:
Commercial Paper$1,268 $1,012 
2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)
500 499 
Other short-term debt9 10 
Total short-term debt1,777 1,521 
Long-term debt:
2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)
998 997 
2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023)
399 399 
2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023)
798 797 
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)
1,246 1,246 
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)
497 497 
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)
594 594 
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
1,235 1,234 
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
1,483 1,483 
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
1,230 1,230 
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)
1,231 1,230 
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
1,220 1,220 
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
1,470 1,470 
Total long-term debt12,401 12,397 
Total debt $14,178 $13,918 
Our senior notes of $12.9 billion have a weighted average maturity of 15 years and a weighted average cost of 2.9% per annum.
Credit Facilities
We have a $3.8 billion senior unsecured revolving credit facility, or the Credit Facility, with a maturity date of October 15, 2026 and future capacity to increase our borrowings under the Credit Facility by an additional $1.0 billion, subject to the consent of the lenders funding the increase and certain other conditions. No amounts were outstanding under the Credit Facility as of March 31, 2022.
As of March 31, 2022, of the $3.8 billion that is currently available for borrowing under the Credit Facility, $1.3 billion is required to backstop the amount outstanding under our U.S. dollar commercial paper program, or the Commercial Paper Program, and $171 million is required to support certain broker-dealer and other subsidiary commitments. The amount required to backstop the amounts outstanding under the Commercial Paper Program will fluctuate as we increase or decrease our commercial paper borrowings. The remaining $2.3 billion is available for working capital and general corporate purposes including, but not limited to, acting as a backstop to future increases in the amounts outstanding under the Commercial Paper Program.
Our India subsidiaries maintain $20 million of credit lines for their general corporate purposes. As of March 31, 2022, they had borrowed $9 million, which is reflected as “other short-term debt” in the table above.
Commercial Paper Program
Our Commercial Paper Program is currently backed by the borrowing capacity available under the Credit Facility, as described above. The effective interest rate of commercial paper issuances does not materially differ from short-term interest rates, which fluctuate due to market conditions and as a result may impact our interest expense. During the three months ended March 31, 2022, we had net issuances of $256 million under the Commercial Paper Program.
Commercial paper notes of $1.3 billion with original maturities ranging from one to 43 days were outstanding as of March 31, 2022, with a weighted average interest rate of 0.99% per annum, and a weighted average remaining maturity of 21 days.