v3.24.0.1
Borrowings (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Carrying Value and Fair Value of Long-Term Borrowings Determined Market Prices EUR/USD Foreign Exchange Rate

The carrying value and fair value of long-term borrowings determined using market prices and EUR/USD foreign exchange rate at December 31, 2023 included the following:

(in millions)

Maturity Amount

 

 

Unamortized
Discount and Debt Issuance Costs
(1)

 

 

Carrying Value

 

 

Fair Value

 

3.50% Notes due 2024

$

1,000

 

 

$

 

 

$

1,000

 

 

$

995

 

1.25% Notes due 2025

 

772

 

 

 

(1

)

 

 

771

 

 

 

752

 

3.20% Notes due 2027

 

700

 

 

 

(2

)

 

 

698

 

 

 

677

 

3.25% Notes due 2029

 

1,000

 

 

 

(7

)

 

 

993

 

 

 

948

 

2.40% Notes due 2030

 

1,000

 

 

 

(4

)

 

 

996

 

 

 

893

 

1.90% Notes due 2031

 

1,250

 

 

 

(8

)

 

 

1,242

 

 

 

1,053

 

2.10% Notes due 2032

 

1,000

 

 

 

(12

)

 

 

988

 

 

 

834

 

4.75% Notes due 2033

 

1,250

 

 

 

(20

)

 

 

1,230

 

 

 

1,261

 

Total long-term borrowings

$

7,972

 

 

$

(54

)

 

$

7,918

 

 

$

7,413

 

(1)
The unamortized discount and debt issuance costs are being amortized over the term of the notes.