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Financing arrangements (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of borrowings
Our borrowings consisted of the following (in millions):
 June 30, 2020December 31, 2019
4.50% notes due 2020 (4.50% 2020 Notes)$—  $300  
2.125% notes due 2020 (2.125% 2020 Notes)—  750  
Floating Rate Notes due 2020—  300  
2.20% notes due 2020 (2.20% 2020 Notes)—  700  
3.45% notes due 2020 (3.45% 2020 Notes)—  900  
4.10% notes due 2021 (4.10% 2021 Notes)—  1,000  
1.85% notes due 2021 (1.85% 2021 Notes)—  750  
3.875% notes due 2021 (3.875% 2021 Notes)1,450  1,750  
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes)1,404  1,402  
2.70% notes due 2022 (2.70% 2022 Notes)500  500  
2.65% notes due 2022 (2.65% 2022 Notes)1,500  1,500  
3.625% notes due 2022 (3.625% 2022 Notes)750  750  
0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds)739  725  
2.25% notes due 2023 (2.25% 2023 Notes)750  750  
3.625% notes due 2024 (3.625% 2024 Notes)1,400  1,400  
1.90% notes due 2025 (1.90% 2025 Notes)500  —  
3.125% notes due 2025 (3.125% 2025 Notes)1,000  1,000  
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes)843  841  
2.60% notes due 2026 (2.60% 2026 Notes)1,250  1,250  
5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes)589  630  
2.20% notes due 2027 (2.20% 2027 Notes)1,750  —  
3.20% notes due 2027 (3.20% 2027 Notes)1,000  1,000  
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes)868  928  
2.45% notes due 2030 (2.45% 2030 Notes)1,250  —  
2.30% notes due 2031 (2.30% 2031 Notes)1,250  —  
6.375% notes due 2037 (6.375% 2037 Notes)552  552  
6.90% notes due 2038 (6.90% 2038 Notes)291  291  
6.40% notes due 2039 (6.40% 2039 Notes)466  466  
3.15% notes due 2040 (3.15% 2040 Notes)2,000  —  
5.75% notes due 2040 (5.75% 2040 Notes)412  412  
4.95% notes due 2041 (4.95% 2041 Notes)600  600  
5.15% notes due 2041 (5.15% 2041 Notes)974  974  
5.65% notes due 2042 (5.65% 2042 Notes)487  487  
5.375% notes due 2043 (5.375% 2043 Notes)261  261  
4.40% notes due 2045 (4.40% 2045 Notes)2,250  2,250  
4.563% notes due 2048 (4.563% 2048 Notes)1,415  1,415  
3.375% notes due 2050 (3.375% 2050 Notes)2,250  —  
4.663% notes due 2051 (4.663% 2051 Notes)3,541  3,541  
Other notes due 2097100  100  
Unamortized bond discounts, premiums and issuance costs, net(849) (868) 
Fair value adjustments678  296  
Other3  —  
Total carrying value of debt34,224  29,903  
Less current portion(91) (2,953) 
Total long-term debt$34,133  $26,950  
Schedule of interest rate swaps
The effective interest rates on notes for which we have entered into interest rate swap contracts and the related notional amounts of these contracts were as follows (dollar amounts in millions):
June 30, 2020December 31, 2019
NotesNotional amountsEffective interest ratesNotional amountsEffective interest rates
3.45% 2020 Notes$—  LIBOR + 1.1%$900  LIBOR + 1.1%
4.10% 2021 Notes—  LIBOR + 1.7%1,000  LIBOR + 1.7%
3.875% 2021 Notes1,450  LIBOR + 2.0%1,750  LIBOR + 2.0%
3.625% 2022 Notes750  LIBOR + 2.7%750  LIBOR + 1.6%
3.625% 2024 Notes1,400  LIBOR + 3.2%1,400  LIBOR + 1.4%
3.125% 2025 Notes1,000  LIBOR + 1.8%1,000  LIBOR + 0.9%
2.60% 2026 Notes1,250  LIBOR + 1.8%1,250  LIBOR + 0.3%
4.663% 2051 Notes(1)
1,500  LIBOR + 2.6%1,500  LIBOR + 0.0%
Total notional amounts$7,350  $9,550  
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(1)  Excludes an additional 1.5% of interest for the difference between the coupon rate paid to note holders and the fixed rate received under the interest rate swap contracts.