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DEBT AND CREDIT FACILITIES | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
DEBT AND CREDIT FACILITIES | DEBT AND CREDIT FACILITIES The following table summarizes the carrying amount of our borrowings under various financing arrangements:
(in millions) |  | Carrying Amount
Type of Borrowing |  | Issue Date |  | Maturity Date |  | Interest Rate |  | March 31, 2025 |  | December 31, 2024
Senior Unsecured |  | November 2014 |  | February 2025 |  | 3.50% |  | $ | — |  |  | $ | 1,750 |
Senior Unsecured |  | September 2015 |  | March 2026 |  | 3.65% |  | 2,748 |  |  | 2,747 |
Senior Unsecured |  | September 2016 |  | March 2027 |  | 2.95% |  | 1,249 |  |  | 1,249 |
Senior Unsecured |  | September 2020 |  | October 2027 |  | 1.20% |  | 748 |  |  | 748 |
Senior Unsecured |  | November 2024 |  | November 2029 |  | 4.80% |  | 746 |  |  | 746 |
Senior Unsecured |  | September 2020 |  | October 2030 |  | 1.65% |  | 995 |  |  | 995 |
Senior Unsecured |  | September 2023 |  | October 2033 |  | 5.25% |  | 993 |  |  | 993 |
Senior Unsecured |  | November 2024 |  | June 2035 |  | 5.10% |  | 991 |  |  | 991 |
Senior Unsecured |  | September 2015 |  | September 2035 |  | 4.60% |  | 994 |  |  | 994 |
Senior Unsecured |  | September 2016 |  | September 2036 |  | 4.00% |  | 744 |  |  | 744 |
Senior Unsecured |  | September 2020 |  | October 2040 |  | 2.60% |  | 989 |  |  | 989 |
Senior Unsecured |  | December 2011 |  | December 2041 |  | 5.65% |  | 997 |  |  | 997 |
Senior Unsecured |  | March 2014 |  | April 2044 |  | 4.80% |  | 1,738 |  |  | 1,738 |
Senior Unsecured |  | November 2014 |  | February 2045 |  | 4.50% |  | 1,735 |  |  | 1,735 |
Senior Unsecured |  | September 2015 |  | March 2046 |  | 4.75% |  | 2,224 |  |  | 2,224 |
Senior Unsecured |  | September 2016 |  | March 2047 |  | 4.15% |  | 1,730 |  |  | 1,730 |
Senior Unsecured |  | September 2020 |  | October 2050 |  | 2.80% |  | 1,479 |  |  | 1,479 |
Senior Unsecured |  | September 2023 |  | October 2053 |  | 5.55% |  | 988 |  |  | 988 |
Senior Unsecured |  | November 2024 |  | November 2054 |  | 5.50% |  | 989 |  |  | 989 |
Senior Unsecured |  | November 2024 |  | November 2064 |  | 5.60% |  | 739 |  |  | 738 |
Total senior unsecured notes |  | 23,816 |  |  | 25,562 |
Liability related to future royalties |  | 1,136 |  |  | 1,148 |
Total debt, net |  | 24,952 |  |  | 26,710 |
Less: Current portion of long-term debt, net |  | 2,806 |  |  | 1,815 |
Total Long-term debt, net |  | $ | 22,146 |  |  | $ | 24,896 |
Senior Unsecured Notes We are required to comply with certain covenants under our note indentures governing our senior unsecured notes. As of March 31, 2025, we were not in violation of any covenants. In February 2025, we repaid $1.75 billion of principal balance related to our senior unsecured notes due at maturity. Revolving Credit Facility As of March 31, 2025 and December 31, 2024, there were no amounts outstanding under our $2.5 billion revolving credit facility maturing in June 2029, and we were in compliance with all covenants.

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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 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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