Debt (Tables)

12 Months Ended

Dec. 31, 2021

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
	2020		2021		2020		2021		2020		2021
Short-term debt
Unsecured debt
Floating rate demand notes	$	6,458	$	9,400
Other short-term debt	3,940		4,701
Asset-backed debt	1,031		709
Total short-term debt	11,429		14,810		1.5	%	1.2	%	1.6	%	1.3	%
Long-term debt
Unsecured debt
Notes payable within one year	17,185		13,660
Notes payable after one year	54,197		44,337
Asset-backed debt
Notes payable within one year	21,345		18,049
Notes payable after one year	32,276		26,654
Unamortized (discount)/premium	30		29
Unamortized issuance costs	(252)		(212)
Fair value adjustments (a)	1,467		390
Total long-term debt	126,248		102,907		2.7	%	2.6	%	2.7	%	2.6	%
Total debt	$	137,677	$	117,717	2.6	%	2.4	%	2.6	%	2.4	%
Fair value of debt	$	139,796	$	120,204
Interest rate characteristics of debt payable after one year
Fixed interest rate	71,515		60,411
Variable interest rate (generally based on LIBOR or other short-term rates)	14,958		10,580
Total payable after one year	$	86,473	$	70,991

__________

(a)These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $299 million and $257 million at December 31, 2020 and 2021, respectively. The carrying value of hedged debt was $45.5 billion and $37.5 billion at December 31, 2020 and 2021, respectively.

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

Debt maturities at December 31, 2021 were as follows (in millions):

	2022 (a)		2023		2024		2025		2026		Thereafter (b)		Total
Unsecured debt	$	27,761	$	11,319	$	10,730	$	8,870	$	5,150	$	8,268	$	72,098
Asset-backed debt	18,758		11,791		5,207		6,736		2,220		700		45,412
Total	46,519		23,110		15,937		15,606		7,370		8,968		117,510
Unamortized (discount)/premium													29
Unamortized issuance costs													(212)
Fair value adjustments													390
Total debt													$	117,717

__________

(a)Includes $14,810 million for short-term and $31,709 million for long-term debt.

(b)Matures between 2027 and 2031.