XML 52 R33.htm IDEA: XBRL DOCUMENT
v3.26.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2026
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Debt consisted of the following:
|  |  |  |  | March 31, 2026 |  | December 31, 2025 |  | Effective Interest Rate
|  |  |  |  | (in millions) |  |
Senior Notes |  |  |  |  |  |  |  |  |
2025 USD Notes |  | Floating Rate | Senior Notes due March 2028 |  | $ | 300 |  |  | $ | 300 |  |  | **
|  | 4.550 | % | Senior Notes due March 2028 |  | 450 |  |  | 450 |  |  | 4.727 | %
|  | 4.950 | % | Senior Notes due March 2032 |  | 500 |  |  | 500 |  |  | 5.063 | %
2024 USD Notes |  | 4.100 | % | Senior Notes due January 2028 |  | 750 |  |  | 750 |  |  | 4.262 | %
|  | 4.350 | % | Senior Notes due January 2032 |  | 1,150 |  |  | 1,150 |  |  | 4.446 | %
|  | 4.550 | % | Senior Notes due January 2035 |  | 1,100 |  |  | 1,100 |  |  | 4.633 | %
|  | 4.875 | % | Senior Notes due May 2034 |  | 1,000 |  |  | 1,000 |  |  | 5.047 | %
2023 USD Notes |  | 4.875 | % | Senior Notes due March 2028 |  | 750 |  |  | 750 |  |  | 5.003 | %
|  | 4.850 | % | Senior Notes due March 2033 |  | 750 |  |  | 750 |  |  | 4.923 | %
2022 EUR Notes |  | 1.000 | % | Senior Notes due February 2029 |  | 861 |  |  | 882 |  |  | 1.138 | %
2021 USD Notes |  | 2.000 | % | Senior Notes due November 2031 |  | 750 |  |  | 750 |  |  | 2.112 | %
|  | 1.900 | % | Senior Notes due March 2031 |  | 600 |  |  | 600 |  |  | 1.981 | %
|  | 2.950 | % | Senior Notes due March 2051 |  | 700 |  |  | 700 |  |  | 3.013 | %
2020 USD Notes |  | 3.300 | % | Senior Notes due March 2027 |  | 1,000 |  |  | 1,000 |  |  | 3.420 | %
|  | 3.350 | % | Senior Notes due March 2030 |  | 1,500 |  |  | 1,500 |  |  | 3.430 | %
|  | 3.850 | % | Senior Notes due March 2050 |  | 1,500 |  |  | 1,500 |  |  | 3.896 | %
2019 USD Notes |  | 2.950 | % | Senior Notes due June 2029 |  | 1,000 |  |  | 1,000 |  |  | 3.030 | %
|  | 3.650 | % | Senior Notes due June 2049 |  | 1,000 |  |  | 1,000 |  |  | 3.689 | %
2018 USD Notes |  | 3.500 | % | Senior Notes due February 2028 |  | 500 |  |  | 500 |  |  | 3.598 | %
|  | 3.950 | % | Senior Notes due February 2048 |  | 500 |  |  | 500 |  |  | 3.990 | %
2016 USD Notes |  | 2.950 | % | Senior Notes due November 2026 |  | 750 |  |  | 750 |  |  | 3.044 | %
|  | 3.800 | % | Senior Notes due November 2046 |  | 600 |  |  | 600 |  |  | 3.893 | %
2015 EUR Notes |  | 2.100 | % | Senior Notes due December 2027 |  | 919 |  |  | 941 |  |  | 2.189 | %
|  | 2.500 | % | Senior Notes due December 2030 |  | 172 |  |  | 176 |  |  | 2.562 | %
|  |  |  |  | 19,102 |  |  | 19,149 |  |  |
Less: Unamortized discount and debt issuance costs | (117) |  |  | (122) |  |  |
Less: Cumulative hedge accounting fair value adjustments 1 |  | (25) |  |  | (27) |  |  |
Total debt outstanding | 18,960 |  |  | 19,000 |  |  |
Less: Short-term debt 2 |  | (1,748) |  |  | (749) |  |  |
Long-term debt | $ | 17,212 |  |  | $ | 18,251 |  |  |
**The $300 million of Senior Notes due March 2028 are Floating Rate Notes that bear interest at a floating rate, reset quarterly, equal to the Compounded Secured Overnight Financing Rate (“SOFR”) plus 0.44%. 1 The Company has an interest rate swap that is accounted for as a fair value hedge. See Note 16 (Derivative and Hedging Instruments) for additional information. 2 As of March 31, 2026, the 2016 USD Notes due November 2026 and the 2020 USD Notes due March 2027 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets. As of December 31, 2025, the 2016 USD Notes due November 2026 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration