Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Outstanding Amounts of Debt and Finance Leases

The outstanding amounts of debt and finance leases were as follows:

(In millions)	December 31, 2020		December 31, 2019
Short-term debt
$1,000 million, Floating Rate Notes due 3/2020	$	—	$	999
$300 million, 5.125% Notes due 6/2020	—		300
$1,750 million, 3.2% Notes due 9/2020	—		1,748
$349 million, 4.125% Notes due 9/2020	—		351
$500 million, 2.6% Notes due 11/2020	—		496
$400 million, Floating Rate Notes due 11/2020	—		400
$250 million, 4.375% Notes due 12/2020	—		249
$78 million, 6.37% Notes due 6/2021	78		—
$1,000 million, Floating Rate Notes due 9/2021	999		—
$1,250 million, 3.4% Notes due 9/2021	1,249		—
Commercial paper	1,030		944
Other, including finance leases	18		27
Total short-term debt	$	3,374	$	5,514
Long-term debt
$500 million, 3.3% Notes due 2021	$	—	$	499
$300 million, 4.5% Notes due 2021	—		298
$78 million, 6.37% Notes due 2021	—		78
$1,000 million, Floating Rate Notes due 2021	—		998
$1,250 million, 3.4% Notes due 2021	—		1,247
$1,248 million, 4.75% Notes due 2021	—		1,272
$277 million, 4% Notes due 2022	276		747
$973 million, 3.9% Notes due 2022	972		999
$500 million, 3.05% Notes due 2022	490		485
$17 million, 8.3% Notes due 2023	17		17
$63 million, 7.65% Notes due 2023	63		100
$700 million, Floating Rate Notes due 2023	698		698
$1,000 million, 3% Notes due 2023	975		966
$2,187 million, 3.75% Notes due 2023	2,181		3,088
$1,000 million, 3.5% Notes due 2024	977		970
$900 million, 3.25% Notes due 2025	896		895
$2,200 million, 4.125% Notes due 2025	2,191		2,188
$1,500 million, 4.5% Notes due 2026	1,505		1,506
$1,500 million, 3.4% Notes due 2027	1,410		1,396
$259 million, 7.875% Debentures due 2027	259		259
$600 million, 3.05% Notes due 2027	595		595
$3,800 million, 4.375% Notes due 2028	3,780		3,776
$1,500 million, 2.4% Notes due 2030	1,489		—
$45 million, 8.3% Step Down Notes due 2033	45		45
$190 million, 6.15% Notes due 2036	190		190
$2,200 million, 4.8% Notes due 2038	2,180		2,178
$750 million, 3.2% Notes due 2040	742		—
$121 million, 5.875% Notes due 2041	119		119
$448 million, 6.125% Notes due 2041	490		491
$317 million, 5.375% Notes due 2042	315		315
$1,500 million, 4.8% Notes due 2046	1,465		1,465
$1,000 million, 3.875% Notes due 2047	988		988
$3,000 million, 4.9% Notes due 2048	2,966		2,964
$1,250 million, 3.4% Notes due 2050	1,235		—
Other, including finance leases	36		61
Total long-term debt	$	29,545	$	31,893

Summary of Debt Issuances

The proceeds of this issuance were mainly used to pay the consideration for the cash tender and redemption offer as described below. Interest on this debt is paid semi-annually.

Principal	Maturity Date	Interest Rate	Net Proceeds
$1,500 million	March 15, 2030	2.4%	$1,491 million
$750 million	March 15, 2040	3.2%	$743 million
$1,250 million	March 15, 2050	3.4%	$1,237 million

Maturities of Outstanding Long-Term Debt

Maturities of outstanding long-term debt are as follows:

(in millions)	Scheduled Maturities (1)
2021	$	2,328
2022	$	1,749
2023	$	3,967
2024	$	1,000
2025	$	3,100
Maturities after 2025	$	19,981

(1)Long-term debt maturity amounts include current maturities of long-term debt.