
	June 30, 2025		December 31, 2024

Accounts receivable securitization facility expiring 2026 (1) (2)	$	1,184	$	1,085

$4.25 billion ABL facility expiring 2027 (1) (3)	2,091		2,253

Term loan facility expiring 2031 (1)	979		984
5 1/2 percent Senior Notes due 2027	499		499
3 7/8 percent Senior Secured Notes due 2027	747		747
4 7/8 percent Senior Notes due 2028 (4)	1,668		1,667
6 percent Senior Secured Notes due 2029	1,491		1,490
5 1/4 percent Senior Notes due 2030	746		746
4 percent Senior Notes due 2030	746		745
3 7/8 percent Senior Notes due 2031	1,093		1,092
3 3/4 percent Senior Notes due 2032	745		745
6 1/8 percent Senior Notes due 2034	1,091		1,090
Finance leases	305		263




Total debt	13,385		13,406
Less short-term portion (5)	(1,287)		(1,178)
Total long-term debt	$	12,098	$	12,228

(1)The table below presents financial information associated with our variable rate indebtedness as of and for the six months ended June 30, 2025. We have borrowed the full available amount under the term loan facility. The principal obligation under the term loan facility is required to be repaid in quarterly installments in an aggregate amount equal to 1.0 percent per annum, with the balance due at the maturity of the facility. The average amount of debt outstanding under the term loan facility decreases slightly each quarter due to the requirement to repay a portion of the principal obligation.



	ABL facility			Accounts receivable securitization facility			Term loan facility
Borrowing capacity, net of letters of credit	$	2,133		$	315		$	—
Letters of credit	22
Interest rate at June 30, 2025	5.5		%	5.3		%	6.1		%
Average month-end debt outstanding	1,670			1,308			990
Weighted-average interest rate on average debt outstanding	5.5		%	5.3		%	6.1		%
Maximum month-end debt outstanding	2,096			1,420			993

(2)In June 2025, the accounts receivable securitization facility was amended, primarily to extend the maturity date to June 24, 2026. The facility may be extended on a 364-day basis by mutual agreement with the purchasers under the facility. Borrowings under the accounts receivable securitization facility are permitted only to the extent that the face amount of the receivables in the collateral pool, net of applicable reserves and other deductions, exceeds the outstanding loans. As of June 30, 2025, there were $1.539 billion of receivables, net of applicable reserves and other deductions, in the collateral pool.

(4)URNA separately issued 4 7/8 percent Senior Notes in August 2017 and in September 2017. Following the issuances, URNA consummated an exchange offer pursuant to which most of the 4 7/8 percent Senior Notes issued in September 2017 were exchanged for additional notes fungible with the 4 7/8 percent Senior Notes issued in August 2017. As of June 30, 2025, the total above is comprised of two separate 4 7/8 percent Senior Notes, one with a book value of $1.664 billion and one with a book value of $4.