Debt (Tables)

12 Months Ended

Dec. 31, 2019

Short-term debt as of December 31, 2019 and 2018 consisted of the following:



In millions	2019		2018
Current maturities of long-term debt	$	4	$	1,350
Bank overdrafts	—		1
Total short-term debt	$	4	$	1,351

Schedule of Long-term Debt at Carrying Value and Fair Value

Long-term debt at carrying value and fair value as of December 31, 2019 and 2018 consisted of the following:



		2019					2018
In millions	Effective Interest Rate	Carrying Value			Fair Value		Carrying Value			Fair Value
1.95% notes due March 1, 2019	1.98%	$	—		$	—	$	650		$	649
6.25% notes due April 1, 2019	6.25%	—			—		700			706
4.88% notes due thru December 31, 2020	4.96%	4			4		4			4
3.375% notes due September 15, 2021	3.43%	349			358		349			354
1.75% Euro notes due May 20, 2022	1.86%	558			584		570			603
1.25% Euro notes due May 22, 2023	1.35%	558			584		569			596
3.50% notes due March 1, 2024	3.54%	697			742		696			712
0.25% Euro notes due December 5, 2024	0.31%	668			677		—			—
2.65% notes due November 15, 2026	2.69%	993			1,032		993			933
0.625% Euro notes due December 5, 2027	0.71%	554			570		—			—
2.125% Euro notes due May 22, 2030	2.18%	555			644		567			620
1.00% Euro notes due June 5, 2031	1.09%	552			580		—			—
3.00% Euro notes due May 19, 2034	3.13%	548			724		560			678
4.875% notes due September 15, 2041	4.97%	637			829		636			719
3.90% notes due September 1, 2042	3.96%	1,082			1,283		1,081			1,087
Other borrowings		3			3		4			4
Total		$	7,758		$	8,614	$	7,379		$	7,665
Less: Current maturities of long-term debt		(4		)			(1,350		)
Total long-term debt		$	7,754				$	6,029

Schedule of Future Maturities of Long-term Debt Including Current Maturities of Long-term Debt

scheduled future maturities of long-term debt, including current maturities of long-term debt, for the twelve months ending December 31 were as follows:



In millions
2020	$	4
2021	349
2022	558
2023	558
2024	1,365
2025 and future years	4,924
Total	$	7,758