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Debt and Financing Arrangements | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Debt and Financing Arrangements | Debt and Financing Arrangements At September 30, 2025 and December 31, 2024, the fair value of the Company’s long-term debt, excluding current portion, was $6.3 billion and $7.1 billion, respectively, as estimated using market values that utilize observable inputs, where available (a Level 2 measurement under applicable accounting standards), compared to a carrying value of $6.6 billion and $7.6 billion as of September 30, 2025 and December 31, 2024, respectively. At September 30, 2025 and December 31, 2024, the Company had lines of credit, including the accounts receivable securitization programs described in Note 15. Sale of Accounts Receivable, totaling $12.2 billion and $13.0 billion, respectively, of which $9.8 billion and $9.1 billion, respectively, was unused. At each of September 30, 2025 and December 31, 2024, $5.1 billion of the Company’s total lines of credit supported the combined U.S. and European commercial paper borrowing programs. The weighted average interest rates on short-term borrowings outstanding at September 30, 2025 and December 31, 2024, were 4.6% and 4.7%, respectively. As of September 30, 2025 and December 31, 2024, there was $190 million and $1.7 billion of commercial paper outstanding, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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