Debt (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 2022:

	September 30,		December 31,
	2022		2021
Commercial paper program (weighted average interest rate of 2.1% as of September 30, 2022 and 0.4% as of December 31, 2021)	$	840	$	1,778
Term Loan maturing May 2024, interest rate of 3.8% as of September 30, 2022		1,000		—
Senior notes, maturing through 2050, interest rates ranging from 0.75% to 7.75% (weighted average interest rate of 3.2% as of September 30, 2022 and 3.1% as of December 31, 2021)		8,626		8,126
Canadian senior notes, C$500 million maturing September 2026, interest rate of 2.6%		362		395
Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 0.3% to 4.3% (weighted average interest rate of 2.2% as of September 30, 2022 and 1.4% as of December 31, 2021)		2,619		2,619
Financing leases and other, maturing through 2085, weighted average interest rate of 4.7% as of September 30, 2022 and 4.5% as of December 31, 2021 (a)		698		567
Debt issuance costs, discounts and other		(82)		(80)
		14,063		13,405
Current portion of long-term debt		258		708
	$	13,805	$	12,697

(a) Excluding our landfill financing leases, the maturities of our financing leases and other debt obligations extend through 2059.