XML 61 R38.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | The following is a summary of outstanding debt (in millions):
As of December 31 | 2024 |  | 2023
Commercial paper | $ | — |  |  | $ | 597 |
3.50% Senior Notes due June 2024 | — |  |  | 600 |
3.875% Senior Notes due December 2025 | 749 |  |  | 749 |
2.875% Senior Notes due May 2026 (EUR 500M) | 520 |  |  | 550 |
8.205% Junior Subordinated Notes due January 2027 | 521 |  |  | 521 |
5.125% Senior Notes due March 2027 | 596 |  |  | — |
Delayed Draw Term Loan due April 2027 | 1,099 |  |  | — |
2.85% Senior Notes due May 2027 | 598 |  |  | 597 |
4.50% Senior Notes due December 2028 | 348 |  |  | 348 |
5.150% Senior Notes due March 2029 | 993 |  |  | — |
3.75% Senior Notes due May 2029 | 747 |  |  | 746 |
2.80% Senior Notes due May 2030 | 995 |  |  | 995 |
5.300% Senior Notes due March 2031 | 644 |  |  | — |
2.05% Senior Notes due August 2031 | 397 |  |  | 397 |
2.60% Senior Notes due December 2031 | 497 |  |  | 497 |
5.00% Senior Notes due September 2032 | 496 |  |  | 496 |
5.35% Senior Notes due February 2033 | 745 |  |  | 744 |
5.450% Senior Notes due March 2034 | 1,735 |  |  | — |
6.25% Senior Notes due September 2040 | 297 |  |  | 297 |
4.25% Senior Notes due December 2042 | 206 |  |  | 204 |
4.45% Senior Notes due May 2043 | 247 |  |  | 247 |
4.60% Senior Notes due June 2044 | 545 |  |  | 545 |
4.75% Senior Notes due May 2045 | 594 |  |  | 594 |
2.90% Senior Notes due August 2051 | 592 |  |  | 592 |
3.90% Senior Notes due February 2052 | 878 |  |  | 878 |
5.750% Senior Notes due March 2054 | 1,966 |  |  | — |
Other | 11 |  |  | 5 |
Total debt | 17,016 |  |  | 11,199 |
Less: Short-term debt and current portion of long-term debt | 751 |  |  | 1,204 |
Total long-term debt | $ | 16,265 |  |  | $ | 9,995 |
Schedule of Repayments of Long-term Debt | Repayments of total debt as of December 31, 2024 are as follows (in millions):
2025 | $ | 751 |
2026 | 523 |
2027 | 2,823 |
2028 | 352 |
2029 | 1,752 |
Thereafter | 11,006 |
Total Repayments | 17,207 |
Unamortized discounts, premiums, and debt issuance costs | (191) |
Total Debt | $ | 17,016 |
Schedule of Commercial Paper | Commercial paper outstanding, which is included in Short-term debt and current portion of long-term debt in the Company’s Consolidated Statements of Financial Position, is as follows (in millions):
As of December 31 |  | 2024 |  | 2023
Commercial paper outstanding |  | $ | — |  |  | $ | 597 |
The weighted average commercial paper outstanding and its related interest rates are as follows (in millions, except percentages):
|  | Years Ended December 31
|  | 2024 |  | 2023
Weighted average commercial paper outstanding |  | $ | 121 |  |  | $ | 471 |
Weighted average interest rate of commercial paper outstanding |  | 5.59 | % |  | 4.93 | %

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration