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Debt and lines of credit | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Debt and lines of credit | Debt and lines of credit Short-term borrowings We maintain a line of credit to provide additional liquidity through bank loans and, if necessary, to support commercial paper borrowings. As of March 31, 2026, the aforementioned line of credit was a variable-rate, revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $1 billion until March 2027. The interest rate on borrowings under this credit facility, if drawn, is indexed to the applicable Term Secured Overnight Financing Rate (Term SOFR). As of March 31, 2026, our credit facility was undrawn, and we had no commercial paper outstanding. Long-term debt outstanding is as follows:
| March 31, |  | December 31,
| 2026 |  | 2025
Notes due 2026 at 1.125% | $ | 500 |  |  | $ | 500 |
Notes due 2027 at 4.60% | 650 |  |  | 650 |
Notes due 2027 at 2.90% | 500 |  |  | 500 |
Notes due 2028 at 4.60% | 700 |  |  | 700 |
Notes due 2029 at 4.60% | 650 |  |  | 650 |
Notes due 2029 at 2.25% | 750 |  |  | 750 |
Notes due 2030 at 1.75% | 750 |  |  | 750 |
Notes due 2030 at 4.50% | 550 |  |  | 550 |
Notes due 2031 at 1.90% | 500 |  |  | 500 |
Notes due 2032 at 3.65% | 400 |  |  | 400 |
Notes due 2033 at 4.90% | 950 |  |  | 950 |
Notes due 2034 at 4.85% | 600 |  |  | 600 |
Notes due 2035 at 5.10% | 650 |  |  | 650 |
Notes due 2039 at 3.875% | 750 |  |  | 750 |
Notes due 2048 at 4.15% | 1,500 |  |  | 1,500 |
Notes due 2051 at 2.70% | 500 |  |  | 500 |
Notes due 2052 at 4.10% | 300 |  |  | 300 |
Notes due 2053 at 5.00% | 650 |  |  | 650 |
Notes due 2054 at 5.15% | 750 |  |  | 750 |
Notes due 2063 at 5.05% | 1,550 |  |  | 1,550 |
Total debt | 14,150 |  |  | 14,150 |
Net unamortized discounts, premiums and issuance costs | (100) |  |  | (102) |
Total debt, including net unamortized discounts, premiums and issuance costs | 14,050 |  |  | 14,048 |
Current portion of long-term debt | (1,149) |  |  | (500) |
Long-term debt | $ | 12,901 |  |  | $ | 13,548 |
Interest and debt expense was $141 million and $128 million for the first quarters of 2026 and 2025, respectively. This was net of the amortized discounts, premiums and issuance and other related costs. Capitalized interest was $3 million and $4 million for the first quarters of 2026 and 2025, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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