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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Long-term debt at December 31 was:
in $ millions | Effective interest rate | 2023 | 2022
Long-term debt |  |  |
(U.S. dollar denominated unless otherwise noted) |  |  |
3.125% € notes due 2023 | 3.23 | % | – | 801
0.875% € notes due 2023 | 0.92 | % | – | 534
1.875% € notes due 2024 | 2.02 | % | 663 | 640
3.875% U.S. Dollar notes due 2025 | 3.93 | % | 1,250 | 1,250
1.250% € notes due 2026 | 1.25 | % | 829 | 801
3.400% U.S. Dollar notes due 2027 | 3.49 | % | 600 | 600
4.000% € notes due 2027 | 4.13 | % | 553 | –
3.950% U.S. Dollar notes due 2028 | 4.07 | % | 900 | 900
1.375% € notes due 2028 | 1.42 | % | 663 | 640
4.125% Sterling notes due 2029 | 4.22 | % | 509 | 481
1.625% € notes due 2030 | 1.72 | % | 829 | 801
4.000% € notes due 2031 | 4.10 | % | 829 | –
6.400% U.S. Dollar notes due 2033 (i) | 6.43 | % | 213 | 213
4.250% € notes due 2035 | 4.38 | % | 829 | –
5.125% U.S. Dollar notes due 2045 | 5.25 | % | 500 | 500
4.400% U.S. Dollar notes due 2047 | 4.44 | % | 400 | 400
4.500% U.S. Dollar notes due 2048 | 4.63 | % | 600 | 600
PHP interest bearing loan due 2027 | 5.95 | % | 396 | 420
U.S. Dollar Commercial Paper | 5.85 | % | 1,002 | –
Other |  | 37 | 11
Unamortized discounts and debt issuance costs |  | (67) | (50)
Total long-term debt (ii) |  | 11,535 | 9,542
Less: current portion of long-term debt (iii) |  | (1,759) | (1,397)
Long-term debt |  | 9,776 | 8,145
(i) The $300 million bond was issued in September 2003, and at the time of issuance the bond was partially swapped to floating interest rates. In August 2009 and December 2010, $87 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken and the interest rate hedge was closed out. The remaining fair value hedge adjustment on the hedged item on the Consolidated Balance Sheets was $30 million and $33 million at December 31, 2023 and 2022, respectively. (ii) Of the Company’s nominal fixed rate debt at December 31, 2023, $1,375 million is hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal fixed rate debt at December 31, 2022, $1,775 million was hedged to a mix of U.S. Dollar LIBOR and EURIBOR floating rates using interest rate swaps. (iii) Excludes borrowings from bank overdrafts of $107 million and $94 million, which are recorded within Current portion of long-term debt in the Consolidated Balance Sheets at December 31, 2023 and 2022, respectively.
Schedule of Maturities of Long-Term Debt | The long-term debt maturities, net of the unamortized discounts and debt issuance costs, for the periods subsequent to December 31, 2023 are as follows:
in $ millions | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 and thereafter | Total
Long-term debt maturities | 1,759 | 1,219 | 824 | 1,436 | 1,537 | 4,760 | 11,535

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