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Debt and Borrowing Arrangements (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings and Related Weighted-Average Interest Rates

Our short-term borrowings and related weighted-average interest rates consisted of:

			As of March 31, 2025												As of December 31, 2024
			Amount Outstanding						Weighted- Average Rate						Amount Outstanding						Weighted- Average Rate
			(in millions, except percentages)
Commercial paper			$	1,843					4.6		%				$	—					—		%
Bank loans			71						10.8		%				71						12.1		%
Total short-term borrowings			$	1,914											$	71

Schedule of Uncommitted and Committed Credit Lines Available

Our uncommitted credit lines and committed credit lines available include:

			As of March 31, 2025												As of December 31, 2024
			Facility Amount						Borrowed Amount						Facility Amount						Borrowed Amount
			(in millions)
Uncommitted credit facilities			$	864					$	71					$	784					$	71
Credit facilities (1):
February 19, 2025			—						—						1,500						—
February 18, 2026			1,500						—						—						—
February 23, 2027			—						—						4,500						—
February 19, 2030			4,500						—						—						—

(1)On February 19, 2025, our $1.5 billion 364-day senior unsecured revolving credit agreement dated as of February 21, 2024 expired and we entered into a $1.5 billion 364-day senior unsecured revolving credit agreement that will expire on February 18, 2026. Additionally, we early terminated our $4.5 billion five-year senior unsecured revolving credit agreement dated as of February 23, 2022, and entered into a $4.5 billion five-year senior unsecured revolving credit agreement that will expire on February 19, 2030.

Schedule of Debt Repayments

Debt Repayments

During the three months ended March 31, 2025, we repaid the following notes (in millions):

Interest Rate

Maturity Date

Amount

USD Equivalent

3.250%

March 2025

C$600

$417

During the three months ended March 31, 2024, we repaid the following notes (in millions):

Interest Rate

Maturity Date

Amount

USD Equivalent

2.125%

March 2024

$500

$500

Schedule of Debt Issuances

During the three months ended March 31, 2024, we issued the following notes (in millions):

Issuance Date

Interest Rate

Maturity Date

Principal Amount

Principal Amount USD Equivalent

February 2024

4.750%

February 2029

$550

$550

Schedule of Fair Value of Debt

The fair value of our short-term borrowings reflects current market interest rates and approximates the amounts we have recorded on our condensed consolidated balance sheets. The fair value of substantially all of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data).

			As of March 31, 2025						As of December 31, 2024
			(in millions)
Fair Value			$	17,683					$	15,846
Carrying Value			$	19,538					$	17,749

Schedule of Interest and Other Expense

Interest and other expense, net consisted of:

			For the Three Months Ended March 31,
			2025						2024
			(in millions)
Interest expense			$	137					$	122
Other expense/(income), net			16						(54)
Interest and other expense, net			$	153					$	68

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