DEBT AND CREDIT FACILITIES

3 Months Ended

Mar. 31, 2023

The following table summarizes the carrying amount of our borrowings under various financing arrangements:


(in millions)				Carrying Amount
Type of Borrowing	Issue Date	Maturity Date	Interest Rate	March 31, 2023		December 31, 2022
Senior Unsecured	September 2016	September 2023	2.50%	$	750	$	749
Senior Unsecured	September 2020	September 2023	0.75%	1,499		1,498
Senior Unsecured	March 2014	April 2024	3.70%	1,749		1,748
Senior Unsecured	November 2014	February 2025	3.50%	1,748		1,748
Senior Unsecured	September 2015	March 2026	3.65%	2,742		2,742
Senior Unsecured	September 2016	March 2027	2.95%	1,247		1,247
Senior Unsecured	September 2020	October 2027	1.20%	747		747
Senior Unsecured	September 2020	October 2030	1.65%	994		993
Senior Unsecured	September 2015	September 2035	4.60%	993		993
Senior Unsecured	September 2016	September 2036	4.00%	743		742
Senior Unsecured	September 2020	October 2040	2.60%	988		988
Senior Unsecured	December 2011	December 2041	5.65%	996		996
Senior Unsecured	March 2014	April 2044	4.80%	1,736		1,736
Senior Unsecured	November 2014	February 2045	4.50%	1,734		1,733
Senior Unsecured	September 2015	March 2046	4.75%	2,221		2,221
Senior Unsecured	September 2016	March 2047	4.15%	1,728		1,728
Senior Unsecured	September 2020	October 2050	2.80%	1,477		1,477
Total senior unsecured notes				24,092		24,088
Liability related to future royalties				1,146		1,141
Total debt, net				25,238		25,229
Less: Current portion of long-term debt and other obligations, net				2,283		2,273
Total Long-term debt, net				$	22,956	$	22,957

Senior Unsecured Notes

We are required to comply with certain covenants under our note indentures governing our senior unsecured notes. As of March 31, 2023, we were not in violation of any covenants.

Revolving Credit Facility

As of March 31, 2023 and December 31, 2022, there were no amounts outstanding under our $2.5 billion revolving credit facility maturing in June 2025, and we were in compliance with all covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details