| Schedule of Carrying Values and Estimated Fair Values of Debt Instruments |
The fair values of our fixed rate notes were estimated using quoted market prices for these instruments. The fair value of other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of June 30, 2023. | | | | | | | | | | | | | As of June 30, 2023 | | (in millions) | Debt: | Carrying Amount | | Fair value | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3.65% Senior Notes due May 23, 2025 | $ | 1,245 | | | $ | 1,226 | | 3.75% Senior Notes due December 1, 2025 | 1,248 | | | 1,214 | | 4.00% Senior Notes due September 15, 2027 | 1,488 | | | 1,463 | | 3.10% Senior Notes due September 15, 2027 | 498 | | | 468 | | 3.75% Senior Notes due September 21, 2028 | 595 | | | 571 | | 4.35% Senior Notes due June 15, 2029 | 1,240 | | | 1,225 | | 2.10% Senior Notes due June 15, 2030 | 1,237 | | | 1,046 | | 1.85% Senior Notes due September 15, 2032 | 1,485 | | | 1,157 | | 4.60% Senior Notes due March 15, 2033 | 1,488 | | | 1,455 | | 2.65% Senior Notes due September 15, 2040 | 1,232 | | | 892 | | 4.25% Senior Notes due September 21, 2048 | 1,232 | | | 1,091 | | 3.00% Senior Notes due June 15, 2050 | 1,221 | | | 871 | | 4.95% Senior Notes due June 15, 2052 | 1,465 | | | 1,435 | | 3.00% Senior Notes due September 15, 2060 | 1,471 | | | 985 | | 5.20% Senior Notes due June 15, 2062 | 983 | | | 996 | | Total debt | $ | 18,128 | | | $ | 16,095 | |
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