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Debt (Tables)
12 Months Ended
Dec. 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 December 31:

    

2019

    

2018

Revolving credit facility (weighted average interest rate of 3.1% as of December 31, 2018)

$

$

11

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

990

Senior notes, maturing through 2049, interest rates ranging from 2.4% to 7.75% (weighted average interest rate of 3.9% as of December 31, 2019 and 4.3% as of December 31, 2018)

 

9,965

 

6,222

Canadian senior notes, maturing September 2026, interest rate of 2.6%

385

Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 1.35% to 4.3% (weighted average interest rate of 2.3% as of December 31, 2019 and 2.35% as of December 31, 2018)

 

2,523

 

2,388

Financing leases and other, maturing through 2071, weighted average interest rate of 4.7%

 

710

 

467

Debt issuance costs, discounts and other

 

(85)

 

(52)

 

13,498

 

10,026

Current portion of long-term debt

 

218

 

432

$

13,280

$

9,594