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v3.26.1

LONG-TERM DEBT (Tables) | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following:
| Effective Interest Rate |  | Face Value |  | March 31, 2026 |  | December 31, 2025
In millions |  |  | Book Value |  | Fair Value 1 |  | Book Value |  | Fair Value 1
2025 Credit Agreement: |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility | 4.2 | % |  | N/A |  | $ | 427 |  |  | $ | 427 |  |  | $ | — |  |  | $ | — |
Term Loan Facility, due 2030 | 5.1 | % |  | $ | 725 |  |  | 721 |  |  | 725 |  |  | 721 |  |  | 725 |
2025 Term Credit Agreement: |  |  |  |  |  |  |  |  |  |  |
Term Loan, due 2026 | 4.8 | % |  | $ | 500 |  |  | 500 |  |  | 500 |  |  | 500 |  |  | 500 |
Senior Notes: |  |  |  |  |  |  |  |  |  |  |
3.45% Senior Notes, due 2026 | 3.5 | % |  | $ | 750 |  |  | 750 |  |  | 746 |  |  | 750 |  |  | 746 |
1.25% Senior Notes (EUR), due 2027 | 1.5 | % |  | € | 500 |  |  | 574 |  |  | 556 |  |  | 583 |  |  | 575 |
4.70% Senior Notes, due 2028 | 4.8 | % |  | $ | 1,250 |  |  | 1,247 |  |  | 1,251 |  |  | 1,247 |  |  | 1,266 |
4.90% Senior Notes, due 2030 | 5.1 | % |  | $ | 500 |  |  | 496 |  |  | 503 |  |  | 496 |  |  | 512 |
5.611% Senior Notes, due 2034 | 5.7 | % |  | $ | 500 |  |  | 496 |  |  | 512 |  |  | 496 |  |  | 526 |
5.50% Senior Notes, due 2035 | 5.6 | % |  | $ | 750 |  |  | 743 |  |  | 760 |  |  | 743 |  |  | 783 |
Uncommitted Money Market Line Credit Agreement | 4.1 | % |  | N/A |  | 51 |  |  | 51 |  |  | — |  |  | — |
Revolving Receivables Program | 4.8 | % |  | N/A |  | 445 |  |  | 445 |  |  | — |  |  | — |
Other Borrowings |  |  |  |  | 88 |  |  | 88 |  |  | 5 |  |  | 5 |
Total |  |  |  |  | 6,538 |  |  | 6,564 |  |  | 5,541 |  |  | 5,638 |
Less: current portion |  |  |  |  | (1,830) |  |  | (1,826) |  |  | (1,250) |  |  | (1,246) |
Long-term portion |  |  |  |  | $ | 4,708 |  |  | $ | 4,738 |  |  | $ | 4,291 |  |  | $ | 4,392 |
1. See Note 13 for information on the fair value measurement of the Company's long-term debt.
Schedule of Line of Credit Facilities | The following table presents availability under the 2025 Credit Agreement at March 31, 2026:
In millions |  | Revolving Credit Facility |  | Term Loan Facility |  | Total
Maximum Availability |  | $ | 2,000 |  |  | $ | 725 |  |  | $ | 2,725 |
Outstanding Borrowings |  | (427) |  |  | (725) |  |  | (1,152) |
Letters of Credit Under Credit Agreement |  | — |  |  | — |  |  | — |
Current Availability |  | $ | 1,573 |  |  | $ | — |  |  | $ | 1,573 |

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