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DEBT AND CREDIT FACILITIES
 9 Months Ended
Sep. 30, 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 BorrowingIssue DateMaturity DateInterest RateSeptember 30, 2025December 31, 2024
Senior UnsecuredNovember 2014February 20253.50%$— $1,750 
Senior UnsecuredSeptember 2015March 20263.65%2,749 2,747 
Senior UnsecuredSeptember 2016March 20272.95%1,249 1,249 
Senior UnsecuredSeptember 2020October 20271.20%749 748 
Senior UnsecuredNovember 2024November 20294.80%747 746 
Senior UnsecuredSeptember 2020October 20301.65%996 995 
Senior UnsecuredSeptember 2023October 20335.25%994 993 
Senior UnsecuredNovember 2024June 20355.10%991 991 
Senior UnsecuredSeptember 2015September 20354.60%994 994 
Senior UnsecuredSeptember 2016September 20364.00%744 744 
Senior UnsecuredSeptember 2020October 20402.60%989 989 
Senior UnsecuredDecember 2011December 20415.65%997 997 
Senior UnsecuredMarch 2014April 20444.80%1,738 1,738 
Senior UnsecuredNovember 2014February 20454.50%1,736 1,735 
Senior UnsecuredSeptember 2015March 20464.75%2,225 2,224 
Senior UnsecuredSeptember 2016March 20474.15%1,730 1,730 
Senior UnsecuredSeptember 2020October 20502.80%1,479 1,479 
Senior UnsecuredSeptember 2023October 20535.55%989 988 
Senior UnsecuredNovember 2024November 20545.50%989 989 
Senior UnsecuredNovember 2024November 20645.60%739 738 
Total senior unsecured notes23,823 25,562 
Liability related to future royalties1,119 1,148 
Total debt, net24,941 26,710 
Less: Current portion of long-term debt, net2,806 1,815 
Total Long-term debt, net$22,135 $24,896 
Senior Unsecured Notes
We are required to comply with certain covenants under our note indentures governing our senior unsecured notes. As of September 30, 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 September 30, 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.