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Financing arrangements (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Borrowings | Our borrowings consisted of the following (in millions):
| December 31,
| 2024 |  | 2023
3.625% notes due 2024 (3.625% 2024 Notes) | $ | — |  |  | $ | 1,400 |
1.90% notes due 2025 (1.90% 2025 Notes) | 500 |  |  | 500 |
5.25% notes due 2025 (5.25% 2025 Notes) | 2,000 |  |  | 2,000 |
Term loan due April 2025 | — |  |  | 2,000 |
3.125% notes due 2025 (3.125% 2025 Notes) | 1,000 |  |  | 1,000 |
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) | 777 |  |  | 828 |
5.507% notes due 2026 (5.507% 2026 Notes) | 1,500 |  |  | 1,500 |
2.60% notes due 2026 (2.60% 2026 Notes) | 1,250 |  |  | 1,250 |
Term loan due October 2026 | 1,800 |  |  | 2,000 |
5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) | 595 |  |  | 605 |
2.20% notes due 2027 (2.20% 2027 Notes) | 1,724 |  |  | 1,724 |
3.20% notes due 2027 (3.20% 2027 Notes) | 1,000 |  |  | 1,000 |
5.15% notes due 2028 (5.15% 2028 Notes) | 3,750 |  |  | 3,750 |
1.65% notes due in 2028 (1.65% 2028 Notes) | 1,234 |  |  | 1,234 |
3.00% notes due 2029 (3.00% 2029 Notes) | 750 |  |  | 750 |
4.05% notes due 2029 (4.05% 2029 Notes) | 1,250 |  |  | 1,250 |
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) | 876 |  |  | 892 |
2.45% notes due 2030 (2.45% 2030 Notes) | 1,250 |  |  | 1,250 |
5.25% notes due 2030 (5.25% 2030 Notes) | 2,750 |  |  | 2,750 |
2.30% notes due 2031 (2.30% 2031 Notes) | 1,250 |  |  | 1,250 |
2.00% notes due 2032 (2.00% 2032 Notes) | 1,001 |  |  | 1,001 |
3.35% notes due 2032 (3.35% 2032 Notes) | 1,000 |  |  | 1,000 |
4.20% notes due 2033 (4.20% 2033 Notes) | 750 |  |  | 750 |
5.25% notes due 2033 (5.25% 2033 Notes) | 4,250 |  |  | 4,250 |
6.375% notes due 2037 (6.375% 2037 Notes) | 478 |  |  | 478 |
6.90% notes due 2038 (6.90% 2038 Notes) | 254 |  |  | 254 |
6.40% notes due 2039 (6.40% 2039 Notes) | 333 |  |  | 333 |
3.15% notes due 2040 (3.15% 2040 Notes) | 1,668 |  |  | 1,803 |
5.75% notes due 2040 (5.75% 2040 Notes) | 373 |  |  | 373 |
2.80% notes due 2041 (2.80% 2041 Notes) | 776 |  |  | 949 |
4.95% notes due 2041 (4.95% 2041 Notes) | 600 |  |  | 600 |
5.15% notes due 2041 (5.15% 2041 Notes) | 729 |  |  | 729 |
5.65% notes due 2042 (5.65% 2042 Notes) | 415 |  |  | 415 |
5.60% notes due 2043 (5.60% 2043 Notes) | 2,750 |  |  | 2,750 |
5.375% notes due 2043 (5.375% 2043 Notes) | 185 |  |  | 185 |
4.40% notes due 2045 (4.40% 2045 Notes) | 2,250 |  |  | 2,250 |
4.563% notes due 2048 (4.563% 2048 Notes) | 1,415 |  |  | 1,415 |
3.375% notes due 2050 (3.375% 2050 Notes) | 1,764 |  |  | 2,132 |
4.663% notes due 2051 (4.663% 2051 Notes) | 3,541 |  |  | 3,541 |
3.00% notes due 2052 (3.00% 2052 Notes) | 890 |  |  | 999 |
4.20% notes due 2052 (4.20% 2052 Notes) | 895 |  |  | 950 |
4.875% notes due 2053 (4.875% 2053 Notes) | 1,000 |  |  | 1,000 |
5.65% notes due 2053 (5.65% 2053 Notes) | 4,250 |  |  | 4,250 |
2.77% notes due 2053 (2.77% 2053 Notes) | 940 |  |  | 940 |
| December 31,
| 2024 |  | 2023
4.40% notes due 2062 (4.40% 2062 Notes) | 1,165 |  |  | 1,200 |
5.75% notes due 2063 (5.75% 2063 Notes) | 2,750 |  |  | 2,750 |
Other notes due 2097 | 100 |  |  | 100 |
Total principal amount of debt | 61,778 |  |  | 66,330 |
Unamortized bond discounts, premiums and issuance costs, net | (1,360) |  |  | (1,420) |
Fair value adjustments | (343) |  |  | (314) |
Other | 24 |  |  | 17 |
Total carrying value of debt | 60,099 |  |  | 64,613 |
Less current portion | (3,550) |  |  | (1,443) |
Total long-term debt | $ | 56,549 |  |  | $ | 63,170 |
In March 2023, in connection with the acquisition of Horizon (see Note 4, Acquisitions and divestitures—Acquisition of Horizon Therapeutics plc), we issued the following series of notes (in millions):
| Principal Amount
5.25% 2025 Notes | $ | 2,000 |
5.507% 2026 Notes | 1,500 |
5.15% 2028 Notes | 3,750 |
5.25% 2030 Notes | 2,750 |
5.25% 2033 Notes | 4,250 |
5.60% 2043 Notes | 2,750 |
5.65% 2053 Notes | 4,250 |
5.75% 2063 Notes | 2,750 |
Total | $ | 24,000 |
Schedule of Aggregate Contractual Maturities of Debt Obligations | The aggregate contractual maturities of our debt obligations as of December 31, 2024, were as follows (in millions):
Maturity dates |  | Amounts
2025 |  | $ | 3,500 |
2026 |  | 5,922 |
2027 |  | 2,724 |
2028 |  | 4,984 |
2029 |  | 2,876 |
Thereafter |  | 41,772 |
Total |  | $ | 61,778 |

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