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Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Long-term debt as of December 31, 2024 and 2023, consisted of the following (in millions):

						December 31, 2024
												Weighted
						Stated						Average
						Interest						Interest												December 31,
						Rates						Rate (1)						Maturities						2024						2023
Fixed Rate Notes
Senior USD Notes						1.2% - 5.6%						3.7%						2025 - 2052						$	6,381					$	8,659
Senior Euro Notes						0.6% - 3.0%						2.7%						2025 - 2039						4,154						4,968
Senior GBP Notes						2.3% - 3.4%						9.6%						2029 - 2031						214						1,178
Revolving Credit Facility (2)												5.6%						2029						151						127
Financing arrangements for certain hardware and software																								66						96
Other (3)																								(312)						(710)
Total long-term debt, including current portion																								10,654						14,318
Current portion of long-term debt																								(968)						(1,348)
Long-term debt, excluding current portion																								$	9,686					$	12,970

(1)The weighted average interest rate includes the impact of the fair value basis adjustments due to interest rate swaps and the impact of cross-currency interest rate swaps designated as fair value hedges and excludes the impact of cross-currency interest rate swaps designated as net investment hedges (see Note 15). The impact of the included fair value basis adjustments and cross-currency interest rate swaps in certain cases results in an effective weighted average interest rate being outside the stated interest rate range on the fixed rate notes.

(2)Interest on the Revolving Credit Facility is generally payable at Secured Overnight Financing Rate ("SOFR") plus a spread of 0.100% plus an applicable margin of up to 1.625% and an unused commitment fee of up to 0.200%, each based upon the Company's corporate credit ratings. The weighted average interest rate on the Revolving Credit Facility excludes fees.

(3)Other includes the amount of fair value basis adjustments due to interest rate swaps (see further discussion below and in Note 15), unamortized debt issuance costs and unamortized non-cash bond discounts.

Schedule of Short-term Debt

Short-term borrowings as of December 31, 2024 and 2023, consisted of the following (in millions):

			December 31, 2024
			Weighted
			Average
			Interest												December 31,
			Rate						Maturities						2024						2023
Euro-commercial paper notes ("ECP Notes")			3.1		%				Up to 183 days						$	104					$	2,118
U.S. commercial paper notes ("USCP Notes")			4.6		%				Up to 397 days						532						2,642
Total Short-term borrowings															$	636					$	4,760

Schedule of Principal Maturities of Debt

The following table summarizes the amount of our long-term debt, including financing obligations for certain hardware and software, as of December 31, 2024, based on maturity date.

			Total
2025			$	969
2026			1,275
2027			1,535
2028			1,629
2029			680
Thereafter			4,878
Total principal payments			10,966
Other debt per the long-term debt table			(312)
Total long-term debt, including current portion			$	10,654

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