Total principal payments

[Table of Contents](#i82eec5aa49a24290a07e4a9f99c1e608_7)                                  12. DebtThe Company’s debt consisted of the following at December 31:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |
| (In millions) |  | 2021 |  | 2020 |
| Short-term and current maturities of long-term debt: |  |  |  |  |
| Foreign lines of credit |  | $ | 240  |  |  | $ | 144  |  |
| Finance lease and other financing obligations |  | 268  |  |  | 240  |  |
| Total short-term and current maturities of long-term debt |  | $ | 508  |  |  | $ | 384  |  |
|  |  |  |  |  |
| Long-term debt: |  |  |  |  |
|  |  |  |  |  |
| 4.750% senior notes due June 2021 |  | $ | —  |  |  | $ | 400  |  |
| 3.500% senior notes due October 2022 |  | 700  |  |  | 700  |  |
| 0.375% senior notes due July 2023 (Euro-denominated) |  | 566  |  |  | 612  |  |
| 3.800% senior notes due October 2023 |  | 1,000  |  |  | 1,000  |  |
| 2.750% senior notes due July 2024 |  | 2,000  |  |  | 2,000  |  |
| 3.850% senior notes due June 2025 |  | 900  |  |  | 900  |  |
| 2.250% senior notes due July 2025 (British Pound-denominated) |  | 705  |  |  | 709  |  |
| 3.200% senior notes due July 2026 |  | 2,000  |  |  | 2,000  |  |
| 2.250% senior notes due June 2027 |  | 1,000  |  |  | 1,000  |  |
| 1.125% senior notes due July 2027 (Euro-denominated) |  | 566  |  |  | 612  |  |
| 4.200% senior notes due October 2028 |  | 1,000  |  |  | 1,000  |  |
| 3.500% senior notes due July 2029 |  | 3,000  |  |  | 3,000  |  |
| 2.650% senior notes due June 2030 |  | 1,000  |  |  | 1,000  |  |
| 1.625% senior notes due July 2030 (Euro-denominated) |  | 566  |  |  | 612  |  |
| 3.000% senior notes due July 2031 (British Pound-denominated) |  | 705  |  |  | 709  |  |
| 4.400% senior notes due July 2049 |  | 2,000  |  |  | 2,000  |  |
| U.S. commercial paper notes |  | 916  |  |  | —  |  |
| Euro commercial paper notes |  | 905  |  |  | —  |  |
| Revolving credit facility |  | 97  |  |  | 22  |  |
| Receivable securitized loan |  | 500  |  |  | 425  |  |
| Term loan facility |  | 200  |  |  | 1,250  |  |
| Unamortized discount and deferred financing costs |  | (125) |  |  | (155) |  |
| Finance lease and other financing obligations |  | 528  |  |  | 504  |  |
| Total long-term debt |  | $ | 20,729  |  |  | $ | 20,300  |  |

Annual maturities of the Company’s total debt were as follows at December 31, 2021:

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |
| (In millions) |  |
| Year Ending December 31, |  |
| 2022 | $ | 508  |  |
| 2023 | 4,923  |  |
| 2024 | 2,391  |  |
| 2025 | 1,677  |  |
| 2026 | 2,027  |  |
| Thereafter | 9,836  |  |
| Total principal payments | 21,362  |  |
| Unamortized discount and deferred financing costs | (125) |  |
| Total debt | $ | 21,237  |  |
|  |  |

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