Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt outstanding and interest rates at December 31 were as follows (in millions):

					Interest Rates
	Debt				Average Contractual				Average Effective
	2019		2020		2019		2020		2019		2020
Short-term debt
Unsecured debt
Floating rate demand notes	$	6,545	$	6,458
Commercial paper	3,560		163
Other short-term debt	2,731		3,777
Asset-backed debt	881		1,031
Total short-term debt	13,717		11,429		2.8	%	1.5	%	2.8	%	1.6	%
Long-term debt
Unsecured debt
Notes payable within one year	15,062		17,185
Notes payable after one year	55,148		54,197
Asset-backed debt
Notes payable within one year	23,609		21,345
Notes payable after one year	32,162		32,276
Unamortized (discount) / premium	7		30
Unamortized issuance costs	(214)		(252)
Fair value adjustments (a)	538		1,467
Total long-term debt	126,312		126,248		3.0	%	2.7	%	3.0	%	2.7	%
Total debt	$	140,029	$	137,677	2.9	%	2.6	%	3.0	%	2.6	%
Fair value of debt	$	141,678	$	139,796
Interest rate characteristics of debt payable after one year
Fixed interest rate	67,090		71,515
Variable interest rate (generally based on LIBOR or other short-term rates)	20,220		14,958
Total payable after one year	$	87,310	$	86,473

__________

(a)These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $7 million and $299 million at December 31, 2019 and 2020, respectively. The carrying value of hedged debt was $39.4 billion and $45.5 billion at December 31, 2019 and 2020, respectively.

Schedule of Maturities of Long-term Debt [Table Text Block]

Debt maturities at December 31, 2020 were as follows (in millions):

	2021 (a)		2022		2023		2024		2025		Thereafter (b)		Total
Unsecured debt	$	27,583	$	13,983	$	10,835	$	10,323	$	9,117	$	9,939	$	81,780
Asset-backed debt	22,376		14,419		7,850		3,148		6,159		700		54,652
Total	49,959		28,402		18,685		13,471		15,276		10,639		136,432
Unamortized (discount) / premium													30
Unamortized issuance costs													(252)
Fair value adjustments													1,467
Total debt													$	137,677

__________

(a)Includes $11,429 million for short-term and $38,530 million for long-term debt.

(b)Matures between 2026 and 2030.