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DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Debt Outstanding | At December 31, 2024 and 2023, we had the following debt outstanding:
as of December 31 (in millions) | Effective interest rate as of December 31,2024¹ | 2024 1 |  | 2023 1
Commercial paper | 4.8 | % | $ | 300 |  |  | $ | — |
0.4% notes due 2024 | — | % | — |  |  | 828 |
1.322% notes due 2024 | — | % | — |  |  | 1,398 |
7.0% notes due 2024 | — | % | — |  |  | 13 |
Floating-rate notes due 2024 | — | % | — |  |  | 300 |
Term loan maturing 2024 | — | % | — |  |  | 130 |
1.3% notes due 2025 | 1.5 | % | 625 |  |  | 662 |
Delayed draw term loan due 2025 | 5.7 | % | 1,826 |  |  | — |
2.6% notes due 2026 | 2.7 | % | 749 |  |  | 748 |
Term loan maturing 2026 | 6.7 | % | 1,643 |  |  | 1,643 |
7.65% debentures due 2027 | 7.7 | % | 5 |  |  | 5 |
1.915% notes due 2027 | 2.0 | % | 1,446 |  |  | 1,445 |
6.625% debentures due 2028 | 5.8 | % | 94 |  |  | 95 |
2.272% notes due 2028 | 2.4 | % | 1,245 |  |  | 1,244 |
1.3% notes due 2029 | 1.5 | % | 776 |  |  | 828 |
3.95% notes due 2030 | 4.1 | % | 497 |  |  | 496 |
1.73% notes due 2031 | 2.7 | % | 646 |  |  | 646 |
2.539% notes due 2032 | 2.6 | % | 1,541 |  |  | 1,540 |
6.25% notes due 2037 | 6.3 | % | 266 |  |  | 265 |
3.65% notes due 2042 | 5.4 | % | 6 |  |  | 6 |
4.5% notes due 2043 | 4.6 | % | 256 |  |  | 256 |
3.5% notes due 2046 | 3.7 | % | 441 |  |  | 440 |
3.132% notes due 2051 | 3.2 | % | 743 |  |  | 741 |
Finance leases and other | 4.2 | % | 21 |  |  | 27 |
Total debt and finance lease obligations |  | 13,126 |  |  | 13,756 |
Short-term debt |  | (2,126) |  |  | — |
Current maturities of long-term debt and finance lease obligations |  | (626) |  |  | (2,667) |
Long-term debt and finance lease obligations |  | $ | 10,374 |  |  | $ | 11,089 |
1 Book values include any discounts, premiums and adjustments related to hedging instruments and effective interest rates reflect amortization of those items.
Future Debt Maturities | Future Debt and Finance Lease Maturities
as of and for the years ended December 31 (in millions) | Debt maturities
2025 | $ | 2,757 |
2026 | 2,398 |
2027 | 1,458 |
2028 | 1,345 |
2029 | 784 |
Thereafter | 4,438 |
Total debt and finance lease maturities | 13,180 |
Discounts, premiums, and adjustments relating to hedging instruments | (54) |
Total debt and finance lease obligations | $ | 13,126 |

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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. + References No definition available. + Details
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