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NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Short-term Debt |
Notes Payable | Mar 31, 2025 | Dec 31, 2024
In millions
Notes payable to banks and other lenders | $ | 136 | $ | 135
Period-end average interest rates | 28.93 | % | 36.03 | %
Schedule of Long-term Debt Instruments |
Long-Term Debt | 2025 Average Rate | Mar 31, 2025 | 2024 Average Rate | Dec 31, 2024 |
In millions |
Promissory notes and debentures: |  |  |  |  |
Final maturity 2025 | 5.63 | % | $ | 333 |  | 5.63 | % | $ | 333 |  |
Final maturity 2028 | 4.80 | % | 600 |  | 4.80 | % | 600 |  |
Final maturity 2029 1 | 7.53 | % | 951 |  | 7.58 | % | 1,368 |  |
Final maturity 2030 | 2.10 | % | 818 |  | 2.10 | % | 818 |  |
Final maturity 2031 and thereafter 1 | 5.41 | % | 10,209 |  | 5.37 | % | 9,192 |  |
Other facilities: |  |  |  |  |
Foreign currency notes and loans, various rates and maturities 1 | 2.18 | % | 2,094 |  | 2.01 | % | 2,540 |  |
InterNotes®, varying maturities through 2053 | 4.34 | % | 668 |  | 4.31 | % | 661 |  |
Medium-term notes, maturity 2025 | 4.75 | % | 1 |  | 4.75 | % | 1 |  |
Finance lease obligations 2 |  | 985 |  |  | 939 |  |
Unamortized debt discount and issuance costs |  | (225) |  |  | (244) |  |
Long-term debt due within one year 3 |  | (502) |  |  | (497) |  |
Long-term debt |  | $ | 15,932 |  |  | $ | 15,711 |  |
1.Cost includes net fair value hedge adjustment gains o f $29 million at March 31, 2025 ($9 million at December 31, 2024). See Note 16 for additional information. 2.See Note 11 for additional information. 3.Presented net of current portion of unamortized debt issuance costs.
Schedule of Maturities of Long-term Debt |
Maturities of Long-Term Debt for Next Five Years at Mar 31, 2025
In millions
2025 | $ | 472 |
2026 | $ | 149 |
2027 | $ | 746 |
2028 | $ | 702 |
2029 | $ | 1,045 |
2030 | $ | 911 |
Schedule of Line of Credit Facilities | The following table summarizes the Company's credit facilities:
Committed and Available Credit Facilities at Mar 31, 2025
In millions | Committed Credit | Available Credit | Maturity Date | Interest
Five Year Competitive Advance and Revolving Credit Facility | $ | 5,000 |  | $ | 5,000 |  | November 2028 | Floating rate
Bilateral Revolving Credit Facility | 200 |  | 200 |  | September 2025 | Floating rate
Bilateral Revolving Credit Facility | 175 |  | 175 |  | September 2025 | Floating rate
Bilateral Revolving Credit Facility | 300 |  | 300 |  | November 2025 | Floating rate
Bilateral Revolving Credit Facility | 300 |  | 300 |  | February 2026 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | March 2026 | Floating rate
Bilateral Revolving Credit Facility | 375 |  | 375 |  | October 2026 | Floating rate
Bilateral Revolving Credit Facility | 150 |  | 150 |  | November 2026 | Floating rate
Bilateral Revolving Credit Facility | 200 |  | 200 |  | November 2026 | Floating rate
Bilateral Revolving Credit Facility | 250 |  | 250 |  | March 2027 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | May 2027 | Floating rate
Bilateral Revolving Credit Facility | 350 |  | 350 |  | June 2027 | Floating rate
Bilateral Revolving Credit Facility | 200 |  | 200 |  | September 2027 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | October 2027 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | November 2027 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | March 2028 | Floating rate
Bilateral Revolving Credit Facility | 100 |  | 100 |  | March 2028 | Floating rate
Bilateral Revolving Credit Facility | 300 |  | 300 |  | May 2028 | Floating rate
Total committed and available credit facilities | $ | 8,400 |  | $ | 8,400 |  |  |

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