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Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
Long-term debt as of December 31, 2025 and 2024, consisted of the following (in millions):
December 31, 2025
Weighted
StatedAverage
InterestInterestDecember 31,
RatesRate (1)Maturities20252024
Fixed Rate Notes
Senior USD Notes
1.2% - 5.6%
3.6%2026 - 2052$6,094 $6,381 
Senior Euro Notes
1.0% - 3.0%
3.0%2027 - 20393,963 4,154 
Senior GBP Notes
2.3% - 3.4%
6.6%2029 - 2031229 214 
Revolving Credit Facility (2)4.9%2029215 151 
Incremental Revolving Credit Facility (3)
2027— — 
Financing arrangements for certain hardware and software116 66 
Other (4)(264)(312)
Total long-term debt, including current portion10,353 10,654 
Current portion of long-term debt(1,284)(968)
Long-term debt, excluding current portion$9,069 $9,686 
(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 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)Interest on the Incremental Revolving Credit Facility is generally payable at SOFR 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.
(4)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, 2025 and 2024, consisted of the following (in millions):
December 31, 2025
Weighted
Average
InterestDecember 31,
RateMaturities20252024
Euro-commercial paper notes ("ECP Notes")2.2 %
Up to 183 days
$117 $104 
U.S. commercial paper notes ("USCP Notes")4.0 %
Up to 397 days
2,612 532 
Total Short-term borrowings$2,729 $636 
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, 2025, based on maturity date.
Total
2026
$1,284 
2027
1,729 
2028
1,736 
2029
769 
2030
1,181 
Thereafter3,918 
Total principal payments10,617 
Other debt per the long-term debt table(264)
Total long-term debt, including current portion$10,353