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Debt and Redeemable Preferred Securities of Subsidiaries | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Debt and Redeemable Preferred Securities of Subsidiaries | Debt Long-term debt is composed of the following:
|  | Weighted-Average Interest Rate |  | Maturities |  | December 31
|  | 2024 |  | 2023
Notes and debentures |  | 3.5% |  | 2025 - 2050 |  | $ | 7,310 |  |  | $ | 7,851 |
Industrial development revenue bonds |  | 4.1% |  | 2029 - 2045 |  | 59 |  |  | 59 |
Bank loans and other financings in various currencies |  | 4.2% |  | 2025 - 2039 |  | 71 |  |  | 72 |
Total long-term debt |  |  |  |  |  | 7,440 |  |  | 7,982 |
Less current portion |  |  |  |  |  | 565 |  |  | 565 |
Long-term portion |  |  |  |  |  | $ | 6,875 |  |  | $ | 7,417 |
Scheduled maturities of long-term debt for the next five years are $566 in 2025, $410 in 2026, $606 in 2027, $700 in 2028 and $704 in 2029. In February 2023, we issued $350 aggregate principal amount of 4.50% notes due February 16, 2033. Proceeds from the offering were used for general corporate purposes including the repayment of a portion of our commercial paper indebtedness. We maintain a $2.0 billion revolving credit facility which expires in June 2028 and a $750 revolving credit facility which expires in May 2025. These facilities, currently unused, support our commercial paper program, and would provide liquidity in the event our access to the commercial paper markets is unavailable for any reason.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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