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Debt (Tables)
3 Months Ended
Mar. 31, 2019
Debt  
Components of Debt

The following table summarizes the major components of debt as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of March 31, 2019:

 

 

 

 

 

 

 

 

 

March 31, 

 

December 31, 

 

    

2019

    

2018

$2.75 billion revolving credit facility (weighted average interest rate of 3.1% as of December 31, 2018)

 

$

 —

 

$

11

Commercial paper program (weighted average interest rate of 2.8% as of March 31, 2019 and 2.9% as of December 31, 2018)

 

 

1,354

 

 

990

Senior notes, maturing through 2045, interest rates ranging from 2.4% to 7.75% (weighted average interest rate of 4.3% as of March 31, 2019 and December 31, 2018)

 

 

6,222

 

 

6,222

Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 1.35% to 4.3% (weighted average interest rate of 2.4% as of March 31, 2019 and 2.35% as of December 31, 2018)

 

 

2,354

 

 

2,388

Financing leases and other, maturing through 2040, interest rates up to 9%

 

 

486

 

 

467

Debt issuance costs, discounts and other

 

 

(50)

 

 

(52)

 

 

 

10,366

 

 

10,026

Current portion of long-term debt

 

 

1,043

 

 

432

 

 

$

9,323

 

$

9,594