Debt and Credit Facilities

3 Months Ended

Mar. 31, 2019

Long-term Debt, Unclassified [Abstract]

Debt And Credit Facilities

DEBT AND CREDIT FACILITIES

In January 2019 we repaid $500 of our senior unsecured notes with a coupon of 1.800% that were due on January 15, 2019. In March 2019 we repaid $750 of our senior unsecured notes with a coupon of 2.000% that were due on March 8, 2019. Our commercial paper program allows us to have a maximum of $1,500 in commercial paper outstanding with maturities up to 397 days from the date of issuance. On March 31, 2019 there were no amounts outstanding under our commercial paper program.

We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on March 31, 2019.

Summary of Total Debt			March 2019		December 2018
Senior unsecured notes:
	Rate	Due
	1.800%	January 15, 2019	$	—	$	500
	2.000%	March 8, 2019	—		750
	4.375%	January 15, 2020	499		499
	Variable	November 30, 2020	338		343
	2.625%	March 15, 2021	748		747
	1.125%	November 30, 2023	618		627
	3.375%	May 15, 2024	585		584
	3.375%	November 1, 2025	746		746
	3.500%	March 15, 2026	990		990
	2.125%	November 30, 2027	840		853
	3.650%	March 7, 2028	595		595
	2.625%	November 30, 2030	722		733
	4.100%	April 1, 2043	391		391
	4.375%	May 15, 2044	395		395
	4.625%	March 15, 2046	980		980
Other			24		126
Total debt			$	8,471	$	9,859
Less current maturities of debt			521		1,373
Total long-term debt			$	7,950	$	8,486
Unamortized debt issuance costs			$	48	$	50
Available borrowing capacity			$	1,562	$	1,548
Fair value of senior unsecured notes			$	8,855	$	9,746

The fair value of the senior unsecured notes was estimated using quoted interest rates, maturities and amounts of borrowings based on quoted active market prices and yields that took into account the underlying terms of the debt instruments. Substantially all our debt is classified within Level 2 of the fair value hierarchy.