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DEBT | 3 Months Ended
--- | ---
Mar. 31, 2026
Debt Disclosure [Abstract] |
DEBT | DEBT The following table summarizes the Company’s outstanding debt:
| March 31, |  | December 31, |  | March 31,
| 2026 |  | 2025 |  | 2025
Long-term debt (including current portion) | $ | 9,323.2 |  |  | $ | 9,670.8 |  |  | $ | 8,977.9 |
Short-term borrowings | 2,376.6 |  |  | 1,200.5 |  |  | 1,798.5 |
Total debt outstanding | $ | 11,699.8 |  |  | $ | 10,871.3 |  |  | $ | 10,776.4 |
Long-Term Debt The Company’s long-term debt primarily consists of senior notes. In January 2026, the Company repaid the principal of $350.0 million related to the Company’s 3.95% senior notes 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, 2025. Short-Term Borrowings In February 2026, the Company amended its credit agreement dated November 17, 2025, as amended, to extend the maturity of $75.0 million of commitments available for borrowing and issuing letters of credit under the credit agreement from June 20, 2026 to December 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, 2026, the Company had unused capacity under its various credit agreements of $2.443 billion. The following table summarizes the Company’s short-term borrowings:
| March 31, |  | December 31, |  | March 31,
| 2026 |  | 2025 |  | 2025
Domestic: |  |  |  |  |
Domestic commercial paper | $ | 1,487.3 |  |  | $ | 281.4 |  |  | $ | 1,782.2 |
USD delayed draw term loan (DDTL) | 600.0 |  |  | 625.0 |  |  | — |
Foreign: |  |  |  |  |
EUR DDTL | 288.8 |  |  | 293.6 |  |  | — |
Foreign facilities | 0.5 |  |  | 0.5 |  |  | 16.3 |
Total | $ | 2,376.6 |  |  | $ | 1,200.5 |  |  | $ | 1,798.5 |
Weighted average interest rate: |  |  |  |  |
Domestic | 4.1 | % |  | 4.4 | % |  | 4.6 | %
Foreign | 2.8 | % |  | 2.8 | % |  | 3.1 | %
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, 2025.

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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 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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