| Long-Term Debt |
| | | | | | | | | ($ in millions) | | | | | | | At December 31: | | Maturities | | 2019 | | 2018* | U.S. dollar debt (weighted-average interest rate at December 31, 2019):** | | | | | | | | | 3.0% | | 2019 | | $ | — | | $ | 5,465 | 2.3% | | 2020 | | | 4,326 | | | 4,344 | 2.5% | | 2021 | | | 8,498 | | | 5,529 | 2.6% | | 2022 | | | 6,289 | | | 3,529 | 3.3% | | 2023 | | | 2,388 | | | 2,428 | 3.3% | | 2024 | | | 5,045 | | | 2,037 | 6.7% | | 2025 | | | 636 | | | 600 | 3.3% | | 2026 | | | 4,350 | | | 1,350 | 4.7% | | 2027 | | | 969 | | | 969 | 6.5% | | 2028 | | | 313 | | | 313 | 3.5% | | 2029 | | | 3,250 | | | — | 5.9% | | 2032 | | | 600 | | | 600 | 8.0% | | 2038 | | | 83 | | | 83 | 4.5% | | 2039 | | | 2,745 | | | 745 | 4.0% | | 2042 | | | 1,107 | | | 1,107 | 7.0% | | 2045 | | | 27 | | | 27 | 4.7% | | 2046 | | | 650 | | | 650 | 4.3% | | 2049 | | | 3,000 | | | — | 7.1% | | 2096 | | | 316 | | | 316 | | | | | $ | 44,594 | | $ | 30,091 | Other currencies (weighted-average interest rate at December 31, 2019, in parentheses):** | | | | | | | | | Euro (1.3%) | | 2020–2031 | | $ | 14,306 | | $ | 10,011 | Pound sterling (2.7%) | | 2020–2022 | | | 1,390 | | | 1,338 | Japanese yen (0.3%) | | 2022–2026 | | | 1,339 | | | 1,325 | Other (6.1%) | | 2020–2022 | | | 375 | | | 390 | | | | | $ | 62,003 | | $ | 43,155 | Finance lease obligations (2.0%) | | 2020–2030 | | | 204 | | | 41 | | | | | $ | 62,207 | | $ | 43,196 | Less: net unamortized discount | | | | | 881 | | | 802 | Less: net unamortized debt issuance costs | | | | | 142 | | | 76 | Add: fair value adjustment+ | | | | | 440 | | | 337 | | | | | $ | 61,624 | | $ | 42,656 | Less: current maturities | | | | | 7,522 | | | 7,051 | Total | | | | $ | 54,102 | | $ | 35,605 |
* Reclassified to conform to 2019 presentation. ** Includes notes, debentures, bank loans and secured borrowings. + The portion of the company’s fixed-rate debt obligations that is hedged is reflected in the Consolidated Balance Sheet as an amount equal to the sum of the debt’s carrying value and a fair value adjustment representing changes in the fair value of the hedged debt obligations attributable to movements in benchmark interest rates.
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| Post-Swap Borrowing (Long-Term Debt, Including Current Portion) |
| | | | | | | | | | | | | | 2019 | | 2018 | | ($ in millions) | | | | Weighted-Average | | | | Weighted-Average | | For the year ended December 31: | | Amount | | Interest Rate | | Amount | | Interest Rate | | Fixed-rate debt | | $ | 52,169 | | 2.9 | % | $ | 28,770 | | 2.7 | % | Floating-rate debt* | | | 9,455 | | 2.2 | % | | 13,886 | | 3.0 | % | Total | | $ | 61,624 | | | | $ | 42,656 | | | |
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| Pre-swap annual contractual obligations of long-term debt outstanding |
Pre-swap annual contractual obligations of long-term debt outstanding at December 31, 2019, are as follows: | | | | ($ in millions) | | Total | 2020 | | $ | 7,526 | 2021 | | | 9,826 | 2022 | | | 7,175 | 2023 | | | 5,374 | 2024 | | | 6,305 | Thereafter | | | 26,000 | Total | | $ | 62,207 |
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