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Debt (Tables)

12 Months Ended

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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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481544/470-10-50-1

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