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Debt (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Long-term debt was:
|  | September 30 | December 31 | September 30
in $ millions | Effective interest rate | 2024 | 2023 | 2023
Long-term debt |  |
(U.S. Dollar denominated unless otherwise noted) |  |  |  |
0.875% euro Senior Notes due 2023 | 0.92 | % | – | – | 530
1.875% euro Senior Notes due 2024 | 2.02 | % | – | 663 | 636
3.875% Senior Notes due 2025 | 3.93 | % | 1,250 | 1,250 | 1,250
1.250% euro Senior Notes due 2026 | 1.25 | % | 840 | 829 | 795
3.400% Senior Notes due 2027 | 3.49 | % | 600 | 600 | 600
4.000% euro Senior Notes due 2027 | 4.13 | % | 560 | 553 | 530
3.950% Senior Notes due 2028 | 4.07 | % | 900 | 900 | 900
1.375% euro Senior Notes due 2028 | 1.42 | % | 672 | 663 | 636
5.200% Senior Notes due 2029 | 5.30 | % | 750 | - | -
4.125% Sterling Senior Notes due 2029 | 4.22 | % | 536 | 509 | 490
1.625% euro Senior Notes due 2030 | 1.72 | % | 840 | 829 | 795
4.000% euro Senior Notes due 2031 | 4.10 | % | 840 | 829 | 795
6.400% Senior Notes due 2033 (i) | 6.43 | % | 213 | 213 | 213
5.400% Senior Notes due 2034 | 5.52 | % | 750 | – | –
4.250% euro Senior Notes due 2035 | 4.38 | % | 840 | 829 | 795
5.125% Senior Notes due 2045 | 5.25 | % | 500 | 500 | 500
4.400% Senior Notes due 2047 | 4.44 | % | 400 | 400 | 400
4.500% Senior Notes due 2048 | 4.63 | % | 600 | 600 | 600
PHP interest bearing loan due 2027 | 6.05 | % | 407 | 396 | 400
AUD interest bearing loan due 2029 | 5.10 | % | 565 | – | –
U.S. Dollar Commercial Paper | 5.47 | % | 1,295 | 1,002 | 260
Euro Commercial Paper | 3.69 | % | 383 | – | 159
Other |  | 66 | 37 | 6
Unamortized discounts and debt issuance costs |  | (70) | (67) | (68)
Total long-term debt (ii) |  | 13,737 | 11,535 | 11,222
Less: current portion of long-term debt (iii) |  | (3,065) | (1,759) | (1,687)
Long-term debt |  | 10,672 | 9,776 | 9,535
(i) The $300 million 6.400% Senior Notes were issued in September 2003, and at the time of issuance the Senior Notes were partially swapped to floating interest rates. In August 2009 and December 2010, $87 million of the issued Senior Notes were acquired by the Company 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 $27 million, $30 million, and $30 million at September 30, 2024, December 31, 2023, and September 30, 2023, respectively. (ii) Of the Company’s nominal fixed rate debt at September 30, 2024, December 31, 2023, and September 30, 2023, $1,375 million was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal floating rate debt at September 30, 2024, December 31, 2023, and September 30, 2023, AUD300 million, AUDnil million, and AUDnil million, respectively, was hedged to fixed rates using interest rate swaps. (iii) Excludes borrowings from bank overdrafts of $153 million, $107 million and $173 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at September 30, 2024, December 31, 2023, and September 30, 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 September 30, 2024 are as follows:
in $ millions | Remainder of 2024 | 2025 | 2026 | 2027 | 2028 | 2029 and thereafter | Total
Long-term debt maturities | 1,757 | 1,334 | 1,612 | 1,159 | 1,559 | 6,316 | 13,737

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