v3.22.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Instruments [Abstract]  
Schedule of Debt
Debt consisted of the following at December 31:
20222021Effective
Interest Rate
(in millions)
Senior Notes
2022 EUR Notes 1
1.000 %Senior Notes due February 2029$800 $— 1.138 %
2021 USD Notes2.000 %Senior Notes due November 2031750 750 2.112 %
1.900 %Senior Notes due March 2031600 600 1.981 %
2.950 %Senior Notes due March 2051700 700 3.013 %
2020 USD Notes3.300 %Senior Notes due March 20271,000 1,000 3.420 %
3.350 %Senior Notes due March 20301,500 1,500 3.430 %
3.850 %Senior Notes due March 20501,500 1,500 3.896 %
2019 USD Notes2.950 %Senior Notes due June 20291,000 1,000 3.030 %
3.650 %Senior Notes due June 20491,000 1,000 3.689 %
2.000 %Senior Notes due March 2025750 750 2.147 %
2018 USD Notes3.500 %Senior Notes due February 2028500 500 3.598 %
3.950 %Senior Notes due February 2048500 500 3.990 %
2016 USD Notes2.950 %Senior Notes due November 2026750 750 3.044 %
3.800 %Senior Notes due November 2046600 600 3.893 %
2015 EUR Notes 2
1.100 %Senior Notes due December 2022— 793 1.265 %
2.100 %Senior Notes due December 2027854 906 2.189 %
2.500 %Senior Notes due December 2030160 170 2.562 %
2014 USD Notes3.375 %Senior Notes due April 20241,000 1,000 3.484 %
Other Debt
INR Term Loan 3
8.640 %Term Loan due July 2023275 — 9.090 %
14,239 14,019 
Less: Unamortized discount and debt issuance costs(111)(116)
Less: Cumulative hedge accounting fair value adjustments 4
(105)(2)
Total debt outstanding14,023 13,901 
Less: Short-term debt 5
(274)(792)
Long-term debt$13,749 $13,109 
1€750 million euro-denominated debt issued in February 2022.
2€1.650 billion euro-denominated debt issued in December 2015 of which €700 million ($724 million) matured and was paid during 2022.
3INR22.7 billion Indian rupee-denominated loan issued in July 2022.
4In 2021, the Company entered into an interest rate swap which is accounted for as a fair value hedge. See Note 23 (Derivative and Hedging Instruments) for additional information.
5The INR Term Loan due July 2023 is classified as short-term debt on the consolidated balance sheet as of December 31, 2022. The 2015 EUR Notes due December 2022 are classified as short-term debt on the consolidated balance sheet as of December 31, 2021.
Schedule of Maturities of Long-term Debt
Scheduled annual maturities of the principal portion of long-term debt outstanding at December 31, 2022 are summarized below.
(in millions)
2023$275 
20241,000 
2025750 
2026750 
20271,854 
Thereafter9,610 
Total$14,239