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DEBT
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
The following table summarizes the Company’s outstanding debt:
March 31,December 31,March 31,
202520242024
Long-term debt (including current portion)$8,977.9 $9,226.0 $9,478.6 
Short-term borrowings1,798.5 662.4 1,256.3 
Total debt outstanding$10,776.4 $9,888.4 $10,734.9 
Long-Term Debt
The Company’s long-term debt primarily consists of senior notes. During the first quarter of 2025, the Company repaid the principal of $250.0 million related to the Company’s 3.3% senior notes due February 1, 2025 using commercial paper. For further details on the Company’s long-term debt, see Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
Short-Term Borrowings
In March 2025, the Company amended its credit agreement dated August 2, 2021, as amended, to extend the maturity of $75.0 million of the commitments available for borrowing and issuing letters of credit under the credit agreement from June 20, 2025 to June 20, 2030.
The Company’s available capacity under its committed credit agreements is reduced for amounts outstanding under its domestic commercial paper program, various credit agreements and letters of credit. At March 31, 2025, the Company had unused capacity under its various credit agreements of $2.148 billion. The following table summarizes the Company’s short-term borrowings:
March 31,December 31,March 31,
202520242024
Domestic commercial paper$1,782.2 $655.6 $1,235.3 
Foreign facilities16.3 6.8 21.0 
Total$1,798.5 $662.4 $1,256.3 
Weighted average interest rate:
Domestic4.6 %4.7 %5.5 %
Foreign3.1 %3.1 %3.5 %
For further details on the Company’s short-term borrowings, see Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.