Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt

Components of Debt

The following table summarizes the major components of debt at principal amounts as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of March 31, 2023:

	March 31,		December 31,
	2023		2022
Commercial paper program (weighted average interest rate of 5.2% as of March 31, 2023 and 4.9% as of December 31, 2022)	$	863	$	1,730
Senior notes, maturing through 2050, interest rates ranging from 0.75% to 7.75% (weighted average interest rate of 3.4% as of March 31, 2023 and 3.2% as of December 31, 2022)		9,876		8,626
Term Loan maturing May 2024, (interest rate of 5.6% as of March 31, 2023 and 5.1% as of December 31, 2022)		1,000		1,000
Canadian senior notes, C$500 million maturing September 2026, interest rate of 2.6%		370		369
Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 0.4% to 4.4% (weighted average interest rate of 2.8% as of March 31, 2023 and 2.7% as of December 31, 2022)		2,648		2,648
Financing leases and other, maturing through 2071 (weighted average interest rate of 4.7% as of March 31, 2023 and December 31, 2022) (a)		704		699
Debt issuance costs, discounts and other		(91)		(88)
		15,370		14,984
Current portion of long-term debt		336		414
Long-term debt, less current portion	$	15,034	$	14,570

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