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v3.25.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | Long-term debt was:
|  | March 31 | December 31 | March 31
in $ millions | Effective interest rate | 2025 | 2024 | 2024
Long-term debt |  |
(U.S. Dollar denominated unless otherwise noted) |  |  |  |
3.875% Senior Notes due 2025 | 3.93 | % | 1,250 | 1,250 | 1,250
1.250% euro Senior Notes due 2026 | 1.25 | % | 812 | 780 | 810
3.400% Senior Notes due 2027 | 3.49 | % | 600 | 600 | 600
4.000% euro Senior Notes due 2027 | 4.13 | % | 541 | 520 | 540
3.950% Senior Notes due 2028 | 4.07 | % | 900 | 900 | 900
1.375% euro Senior Notes due 2028 | 1.42 | % | 650 | 624 | 648
5.200% Senior Notes due 2029 | 5.30 | % | 750 | 750 | –
4.125% Sterling Senior Notes due 2029 | 4.22 | % | 518 | 501 | 509
5.125% Senior Notes due 2030 | 5.25 | % | 1,250 | – | –
1.625% euro Senior Notes due 2030 | 1.72 | % | 812 | 780 | 810
4.000% euro Senior Notes due 2031 | 4.10 | % | 812 | 780 | 810
6.400% Senior Notes due 2033 (i) | 6.43 | % | 213 | 213 | 213
5.400% Senior Notes due 2034 | 5.52 | % | 750 | 750 | –
5.500% Senior Notes due 2035 | 5.57 | % | 1,250 | – | –
4.250% euro Senior Notes due 2035 | 4.38 | % | 812 | 780 | 810
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
5.875% Senior Notes due 2055 | 5.97 | % | 500 | – | –
USD interest bearing loan due 2026 | 4.96 | % | 750 | 750 | –
PHP interest bearing loan due 2027 | 5.93 | % | 399 | 379 | 400
AUD interest bearing loan due 2029 | 4.95 | % | 478 | 478 | –
U.S. Dollar Commercial Paper | 4.73 | % | 56 | 1,189 | 1,863
Euro Commercial Paper | – |  | – | 347 | 929
Other |  | 60 | 48 | 26
Unamortized discounts and debt issuance costs |  | (85) | (68) | (64)
Total long-term debt (ii) |  | 15,578 | 13,851 | 12,554
Less: current portion of long-term debt (iii) |  | (1,365) | (2,882) | (2,874)
Long-term debt |  | 14,213 | 10,969 | 9,680
(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 $26 million, $27 million, and $29 million at March 31, 2025, December 31, 2024, and March 31, 2024, respectively. (ii) Of the Company’s nominal fixed rate debt at March 31, 2025, December 31, 2024, and March 31, 2024, $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 March 31, 2025, December 31, 2024, and March 31, 2024, $nil million, $140 million, and $nil million, respectively, was hedged to fixed rates using interest rate swaps. (iii) Excludes borrowings from bank overdrafts of $93 million, $117 million and $118 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at March 31, 2025, December 31, 2024, and March 31, 2024, 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, 2025 are as follows:
in $ millions | Remainder of 2025 | 2026 | 2027 | 2028 | 2029 | 2030 and thereafter | Total
Long-term debt maturities | 1,364 | 1,954 | 1,452 | 1,536 | 1,333 | 7,939 | 15,578

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