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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,
202620252025
Long-term debt (including current portion)$9,323.2 $9,670.8 $8,977.9 
Short-term borrowings2,376.6 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,
202620252025
Domestic:
Domestic commercial paper$1,487.3 $281.4 $1,782.2 
USD delayed draw term loan (DDTL)600.0 625.0 — 
Foreign:
EUR DDTL288.8 293.6 — 
Foreign facilities0.5 0.5 16.3 
Total$2,376.6 $1,200.5 $1,798.5 
Weighted average interest rate:
Domestic4.1 %4.4 %4.6 %
Foreign2.8 %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.