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Debt and Redeemable Preferred Securities of Subsidiaries
 12 Months Ended
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 RateMaturitiesDecember 31
20242023
Notes and debentures3.5%2025 - 2050$7,310 $7,851 
Industrial development revenue bonds4.1%2029 - 204559 59 
Bank loans and other financings in various currencies4.2%2025 - 203971 72 
Total long-term debt7,440 7,982 
Less current portion565 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.