| Schedule of Carrying Value of Debt Outstanding |
The carrying value of debt outstanding was as follows at December 31, 2019 and 2018: | | | | | | | | | | 2019 | | 2018 | | (in millions) | Short-term debt: | | Commercial paper | $ | 300 |
| | $ | 645 |
| Term note | — |
| | 650 |
| Senior notes: | | | | $400 million, 2.625% due October 1, 2019 | — |
| | 399 |
| $400 million, 2.50% due December 15, 2020 | 399 |
| | — |
| Total short-term debt | $ | 699 |
| | $ | 1,694 |
| | | Long-term debt: | | Senior notes: | | $400 million, 2.50% due December 15, 2020 | $ | — |
| | $ | 398 |
| $600 million, 3.15% due December 1, 2022 | 598 |
| | 596 |
| $400 million, 2.90% due December 15, 2022 | 397 |
| | 396 |
| $600 million, 3.85% due October 1, 2024 | 597 |
| | 597 |
| $600 million, 3.95% due March 15, 2027 | 595 |
| | 594 |
| $500 million, 3.125% due August 15, 2029 | 495 |
| | — |
| $250 million, 8.15% due June 15, 2038 | 262 |
| | 263 |
| $400 million, 4.625% due December 1, 2042 | 396 |
| | 396 |
| $750 million, 4.95% due October 1, 2044 | 739 |
| | 739 |
| $400 million, 4.80% due March 15, 2047 | 396 |
| | 396 |
| $500 million, 3.95% due August 15, 2049 | 492 |
| | — |
| Total long-term debt | $ | 4,967 |
| | $ | 4,375 |
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| Schedule of Maturities of Long-term Debt |
Maturities of the short-term and long-term debt for the years ending December 31, are as follows: | | | | | For the years ending December 31, | (in millions) | 2020 | $ | 700 |
| 2021 | — |
| 2022 | 1,000 |
| 2023 | — |
| 2024 | 600 |
| Thereafter | 3,400 |
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