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v3.24.2

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions | 6 Months Ended |
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) |  | 5.64% | 6.06%
Total debt | [1] | $ 21,688 | $ 21,995
Less: unamortized debt issuance costs |  | (571) | (543)
Total debt, net of unamortized debt issuance costs |  | 21,117 | 21,452
Less—current portion |  | (1,332) | (1,720)
Long-term portion |  | 19,785 | 19,732
Total fixed rate debt |  |  |
Debt Instrument [Line Items] |  |  |
Long-term debt |  | $ 18,182 | 16,618
Unsecured senior notes |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 6.09% |
Long-term debt |  | $ 7,899 | 7,899
Secured senior notes |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 8.25% |
Long-term debt |  | $ 1,000 | 1,000
Unsecured term loans |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 3.26% |
Long-term debt |  | $ 8,133 | 6,569
Convertible notes |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 6.00% |
Long-term debt |  | $ 1,150 | 1,150
Total variable rate debt |  |  |
Debt Instrument [Line Items] |  |  |
Long-term debt |  | $ 3,149 | 5,008
Unsecured revolving credit facilities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2],[3] | 6.76% |
Long-term debt | [3] | $ 325 | 899
Unsecured revolving credit facilities | Unsecured Revolving Credit Facility Due 2024 |  |  |
Debt Instrument [Line Items] |  |  |
Credit adjustment spread |  | 0.10% |
Margin on floating rate base (as a percent) |  | 1.33% |
Facility fee |  | 0.17% |
USD unsecured term loan |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 6.81% |
Long-term debt |  | $ 2,574 | 3,666
Euro unsecured term loan |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 4.95% |
Long-term debt |  | $ 250 | 443
Finance lease liabilities |  |  |
Debt Instrument [Line Items] |  |  |
Long-term debt |  | $ 357 | $ 369
Maximum | Unsecured revolving credit facilities | Unsecured Revolving Credit Facility Due 2024 |  |  |
Debt Instrument [Line Items] |  |  |
Long term debt, stated interest rate (as a percent) |  | 6.77% |
[1] | At June 30, 2024 and December 31, 2023, the weighted average interest rate for total debt was 5.64% and 6.06%, respectively
[2] | Weighted average interest rates are based on outstanding loan balance as of June 30, 2024, and for variable rate debt include either EURIBOR or Term SOFR plus the applicable margin.
[3] | Advances under our unsecured revolving credit facilities accrue interest at Term SOFR plus a 0.10% credit adjustment spread plus an interest rate margin of 1.33%. Based on applicable Term SOFR rates, as of June 30, 2024, the maximum interest rate under the unsecured credit facilities was 6.77%. We also pay a facility fee of 0.17% of the total commitments under such facility.

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