A summary of long-term debt at March 31, 2025 and December 31, 2024, including related interest rates at March 31, 2025, follows (dollars in millions):


	March 31, 2025			December 31, 2024
Senior secured term loan facility	$	—			1,238
Other senior secured debt (effective interest rate of 4.6%)		1,022			1,046
Senior secured debt		1,022			2,284
Senior unsecured credit facility (effective interest rate of 5.7%)		220			—
Senior unsecured notes (effective interest rate of 5.2%)		43,766			41,116
Debt issuance costs and discounts		(432	)		(369	)
Total debt (average life of 11.7 years, rates averaging 5.2%)		44,576			43,031
Less amounts due within one year		3,519			4,698
	$	41,057		$	38,333

During February 2025, we repaid all $2.600 billion aggregate principal amount of 5.375% senior notes due 2025 at maturity. We entered into a new credit agreement that provides for $8.000 billion of senior unsecured revolving credit commitments with a term of five years (“senior unsecured credit facility”). Currently, borrowings under the senior unsecured credit facility bear interest at a rate equal to the Secured Overnight Financing Rate plus 1.250% (plus a 0.10% credit spread adjustment). We concurrently borrowed funds from the senior unsecured credit facility and repaid outstanding borrowings under our $4.5 billion senior secured asset-based revolving credit facility and our senior secured term loan facility of $1.238 billion. We terminated these senior secured credit facilities along with our $3.5 billion senior secured revolving cash flow credit facility.

During February 2025, we also issued $5.250 billion aggregate principal amount of senior notes comprised of (i) $700 million aggregate principal amount of 5.000% senior notes due 2028, (ii) $300 million aggregate principal amount of floating rate senior notes due 2028, (iii) $750 million aggregate principal amount of 5.250% senior notes due 2030, (iv) $750 million aggregate principal amount of 5.500% senior notes due 2032, (v) $1.500 billion aggregate principal amount of 5.750% senior notes due 2035 and (vi) $1.250 billion aggregate principal amount of 6.200% senior notes due 2055. We used the net proceeds to repay borrowings under the senior unsecured credit facility and for general corporate purposes.