v3.24.3
DEBT (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Summary of Outstanding Debt
Outstanding debt at September 30, 2024 and December 31, 2023 consists of the following (in millions): 
September 30, 2024December 31, 2023
Outstanding
 Principal 
Amount
Carrying
 Value (1)
Outstanding
 Principal 
Amount
Carrying
 Value (1)
2.375% (€1 Billion) Senior Notes due September 2024 (2)
$— $— $1,105 $1,104 
3.65% Senior Notes due March 2025 (3)
500 500 500 499 
0.1% (€950 Million) Senior Notes due March 2025 (3)
1,060 1,059 1,050 1,048 
0.75% Convertible Senior Notes due May 2025 (2) (3)
862 860 862 857 
3.6% Senior Notes due June 2026
1,000 999 1,000 998 
4.0% (€750 Million) Senior Notes due November 2026
837 835 828 825 
1.8% (€1 Billion) Senior Notes due March 2027
1,116 1,115 1,105 1,103 
3.55% Senior Notes due March 2028
500 499 500 499 
0.5% (€750 Million) Senior Notes due March 2028
837 835 828 825 
3.625% (€500 Million) Senior Notes due November 2028
558 556 552 549 
3.5% (€500 Million) Senior Notes due March 2029
558 556 — — 
4.25% (€750 Million) Senior Notes due May 2029
837 832 828 823 
4.625% Senior Notes due April 2030
1,500 1,493 1,500 1,492 
4.5% (€1 Billion) Senior Notes due November 2031
1,116 1,109 1,105 1,098 
3.625% (€650 Million) Senior Notes due March 2032
725 720 — — 
4.125% (€1.25 Billion) Senior Notes due May 2033
1,396 1,381 1,381 1,367 
4.75% (€1 Billion) Senior Notes due November 2034
1,116 1,108 1,105 1,097 
3.75% (€850 Million) Senior Notes due March 2036
949 934 — — 
4.0% (€750 Million) Senior Notes due March 2044
837 821 — — 
Total outstanding debt$16,304 $16,212 $14,249 $14,184 
Short-term debt$2,422 $2,419 $1,967 $1,961 
Long-term debt$13,882 $13,793 $12,282 $12,223 
(1)    The carrying values differ from the outstanding principal amounts due to unamortized debt discounts and debt issuance costs of $92 million and $65 million as of September 30, 2024 and December 31, 2023, respectively.
(2)    Included in "Short-term debt" in the Consolidated Balance Sheet as of December 31, 2023.
(3)    Included in "Short-term debt" in the Unaudited Consolidated Balance Sheet as of September 30, 2024.
Schedule of other senior notes issued
The following table summarizes the information related to other senior notes issued in March 2024:
Other Senior Notes
Effective Interest Rate (1)
Timing of Interest Payments
3.5% Senior Notes due March 2029
3.61%Annually in March
3.625% Senior Notes due March 2032
3.71%Annually in March
3.75% Senior Notes due March 2036
3.92%Annually in March
4.0% Senior Notes due March 2044
4.15%Annually in March
(1)    Represents the coupon interest rate adjusted for deferred debt issuance costs and premiums or discounts existing at the origination of the debt.