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Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Long-term debt was:
|  | March 31 | December 31 | March 31
in $ millions | Effective interest rate | 2024 | 2023 | 2023
Long-term debt |  |
(U.S. Dollar denominated unless otherwise noted) |  |  |  |
3.125% € notes due 2023 | 3.23 | % | - | - | 815
0.875% € notes due 2023 | 0.92 | % | - | - | 543
1.875% € notes due 2024 | 2.02 | % | - | 663 | 652
3.875% U.S. Dollar notes due 2025 | 3.93 | % | 1,250 | 1,250 | 1,250
1.250% € notes due 2026 | 1.25 | % | 810 | 829 | 815
3.400% U.S. Dollar notes due 2027 | 3.49 | % | 600 | 600 | 600
4.000% € notes due 2027 | 4.13 | % | 540 | 553 | -
3.950% U.S. Dollar notes due 2028 | 4.07 | % | 900 | 900 | 900
1.375% € notes due 2028 | 1.42 | % | 648 | 663 | 652
4.125% Sterling notes due 2029 | 4.22 | % | 509 | 509 | 495
1.625% € notes due 2030 | 1.72 | % | 810 | 829 | 815
4.000% € notes due 2031 | 4.10 | % | 810 | 829 | -
6.400% U.S. Dollar notes due 2033 (i) | 6.43 | % | 213 | 213 | 213
4.250% € notes due 2035 | 4.38 | % | 810 | 829 | -
5.125% U.S. Dollar notes due 2045 | 5.25 | % | 500 | 500 | 500
4.400% U.S. Dollar notes due 2047 | 4.44 | % | 400 | 400 | 400
4.500% U.S. Dollar notes due 2048 | 4.63 | % | 600 | 600 | 600
PHP interest bearing loan due 2027 | 6.03 | % | 400 | 396 | 443
U.S. Dollar Commercial Paper | 5.72 | % | 1,863 | 1,002 | -
Euro Commercial Paper | 4.08 | % | 929 | - | -
Other |  | 26 | 37 | 37
Unamortized discounts and debt issuance costs |  | (64) | (67) | (52)
Total long-term debt (ii) |  | 12,554 | 11,535 | 9,678
Less: current portion of long-term debt (iii) |  | (2,874) | (1,759) | (2,095)
Long-term debt |  | 9,680 | 9,776 | 7,583
(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 in the Condensed Consolidated Balance Sheets was $29 million, $30 million, and $32 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively. (ii) Of the Company’s nominal fixed rate debt at March 31, 2024 and December 31, 2023, $1,375 million, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal fixed rate debt at March 31, 2023, $1,782 million was hedged to a mix of U.S. Dollar London Interbank Offered Rate (LIBOR) and Euro Interbank Offered Rate (EURIBOR) floating rates using interest rate swaps. (iii) Excludes borrowings from bank overdrafts of $118 million, $107 million and $156 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at March 31, 2024, December 31, 2023, and March 31, 2023, 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 March 31, 2024 are as follows:
in $ millions | Remainder of 2024 | 2025 | 2026 | 2027 | 2028 | 2029 and thereafter | Total
Long-term debt maturities | 2,874 | 1,219 | 814 | 1,431 | 1,516 | 4,700 | 12,554

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