The Company’s outstanding debt is as follows:


(In millions)	June 30, 2025		December 31, 2024
Short-term:
Commercial paper	$	150	$	—


Current portion of long-term debt	619		519
	$	769	$	519
Long-term:


Senior notes – 3.50% due 2025	$	—	$	500
Senior notes – 1.349% due 2026	654		579
Senior notes – 3.75% due 2026	600		599
Senior notes – 4.550% due 2027	945		945
Senior notes – Floating due 2027	298		299
Senior notes – 4.375% due 2029	1,499		1,499
Senior notes – 1.979% due 2030	630		566
Senior notes – 2.25% due 2030	743		742
Senior notes – 4.65% due 2030	991		991
Senior notes – 2.375% due 2031	398		397
Senior notes – 4.850% due 2031	992		992
Senior notes – 5.750% due 2032	494		494
Senior notes – 5.875% due 2033	299		299
Senior notes – 5.400% due 2033	593		593
Senior notes – 5.150% due 2034	496		495
Senior notes – 5.00% due 2035	1,982		1,982
Senior notes – 4.75% due 2039	496		496
Senior notes – 5.35% due 2044	494		495
Senior notes – 4.35% due 2047	494		494
Senior notes – 4.20% due 2048	594		593
Senior notes – 4.90% due 2049	1,239		1,239
Senior notes – 2.90% due 2051	346		346
Senior notes – 6.25% due 2052	492		491
Senior notes – 5.450% due 2053	591		591
Senior notes – 5.700% due 2053	989		989
Senior notes – 5.450% due 2054	493		493
Senior notes – 5.40% due 2055	1,479		1,479
Mortgage – 5.70% due 2035	257		267
Other	1		2
	19,579		19,947
Less: current portion	619		519
	$	18,960	$	19,428


	June 30, 2025				December 31, 2024
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value


Short-term debt	$	769	$	767	$	519	$	518
Long-term debt	$	18,960	$	18,613	$	19,428	$	18,734

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details