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Long-Term Debt and Short-Term Borrowings (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Long -Term Debt and Short-Term Debt

The carrying value includes the impact of debt issuance costs. Long-term debt and short-term borrowings as of June 30, 2026 and December 31, 2025 consisted of the following:

(Millions)						Currency						Effective Interest Rate						Final Maturity Date						Carrying Value
Description																								June 30, 2026						December 31, 2025
Three year senior term loan credit facility						USD						4.98						2027						$	110					$	110
$1 billion 5.45 percent three year senior notes						USD						5.37						2027						349						349
$1.5 billion 5.40 percent five year senior notes						USD						5.31						2029						698						698
$1 billion 5.45 percent seven year senior notes						USD						5.32						2031						991						991
$1.65 billion 5.60 percent ten year senior notes						USD						5.47						2034						1,632						1,636
$1.25 billion 5.90 percent thirty year senior notes						USD						6.00						2054						1,210						1,209
$500 million 6.00 percent forty year senior notes						USD						6.09						2064						42						42
Other borrowings												2.15						2027						47						—
Total debt																								5,079						5,035
Less: short-term borrowings and current portion of long-term debt																								506						—
Long-term debt (excluding current portion)																								$	4,573					$	5,035

Schedule of Maturities of Long-Term Debt

The maturities of long-term debt for the periods subsequent to June 30, 2026 are as follows (in millions):

Remainder of 2026						2027						2028						2029						2030						2031						After 2031						Total
$	—					$	460					$	—					$	703					$	—					$	1,000					$	2,920					$	5,083

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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