XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.1
Debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
March 31, 2025December 31, 2024
PrincipalCarryingPrincipalCarrying
outstandingamountoutstandingamount
Short-term debt$202 $202 $66 $66 
Long-term debt
Senior secured borrowings:
Revolving credit facilities——— — 
Term loan facilities
U.S. dollar due 20271,1751,1721,1751,171
Euro due 20271
558558538538
Senior notes and debentures:
U.S. dollar at 4.25% due 2026
400399400399
U.S. dollar at 4.75% due 2026
875873875873
U.S. dollar at 7.375% due 2026
350350350350
€500 at 2.875% due 2026
541540518517
€500 at 5.00% due 2028
541536518513
€500 at 4.75% due 2029
541535518513
€600 at 4.50% due 2030
649640621611
U.S. dollar at 5.25% due 2030
500496500495
U.S. dollar at 7.50% due 2096
40404040
Other indebtedness in various currencies9595118118
Total long-term debt6,265 6,234 6,171 6,138 
Less current maturities(1,494)(1,491)(80)(80)
Total long-term debt, less current maturities$4,771 $4,743 $6,091 $6,058 
(1) €516 and €520 at March 31, 2025 and December 31, 2024
The estimated fair value of the Company’s debt, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $6,410 at March 31, 2025 and $6,255 at December 31, 2024.

The U.S. dollar term loan interest rate was SOFR plus 1.10% and the Euro term loan interest rate was EURIBOR plus 1.00% at March 31, 2025 and at December 31, 2024.