v3.20.4
Borrowings (Tables)
12 Months Ended
Dec. 31, 2020
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, 2020 included the following:

 

(in millions)

Maturity Amount

 

 

Unamortized

Discount and Debt Issuance Costs

 

 

Carrying Value

 

 

Fair Value

 

4.25% Notes due 2021

$

750

 

 

$

 

 

$

750

 

 

$

761

 

3.375% Notes due 2022

 

750

 

 

 

(2

)

 

 

748

 

 

 

782

 

3.50% Notes due 2024

 

1,000

 

 

 

(3

)

 

 

997

 

 

 

1,098

 

1.25% Notes due 2025

 

856

 

 

 

(3

)

 

 

853

 

 

 

911

 

3.20% Notes due 2027

 

700

 

 

 

(5

)

 

 

695

 

 

 

790

 

3.25% Notes due 2029

 

1,000

 

 

 

(11

)

 

 

989

 

 

 

1,146

 

2.40% Notes due 2030

 

1,000

 

 

 

(7

)

 

 

993

 

 

 

1,090

 

1.90% Notes due 2031

 

1,250

 

 

 

(11

)

 

 

1,239

 

 

 

1,305

 

Total Long-term Borrowings

$

7,306

 

 

$

(42

)

 

$

7,264

 

 

$

7,883