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Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Components of Debt
Debt consisted of the following:
(DOLLARS IN MILLIONS)Effective Interest RateMarch 31, 2025December 31, 2024
2025 Notes(1)
1.22 %$1,000 $1,000 
2026 Euro Notes(1)
1.93 %864 827 
2027 Notes(1)
1.56 %1,208 1,209 
2028 Notes(1)
4.57 %399 398 
2030 Notes(1)
2.21 %1,507 1,507 
2040 Notes(1)
3.04 %771 771 
2047 Notes(1)
4.44 %495 495 
2048 Notes(1)
5.12 %787 787 
2050 Notes(1)
3.21 %1,567 1,568 
2026 Term Loan Facility(1)
4.98 %397 413 
Revolving Credit Facility(2)
— — 
Commercial paper(3)
292 — 
Bank overdrafts and other3 2 
Total debt9,290 8,977 
Less: Short-term borrowings(1,689)(1,413)
Total Long-term debt$7,601 $7,564 
_______________________ 
(1)Amount is net of unamortized discount and debt issuance costs.
(2)The interest rate on the Revolving Credit Facility is, at the applicable borrower’s option, a per annum rate equal to either (x) an eurocurrency rate plus an applicable margin varying from 1.125% to 1.750% or (y) a base rate plus an applicable margin varying from 0.125% to 0.750%, in each case depending on the public debt ratings for non-credit enhanced long-term senior unsecured debt issued by the Company.
(3)The effective interest rate of commercial paper issuances fluctuates as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Additionally, the effective interest rate of commercial paper is not meaningful as issuances do not materially differ from short-term interest rates.