v3.25.2
Borrowings and Lines of Credit (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt
(dollars in millions)June 30, 2025December 31, 2024
Commercial paper$472$—
Other borrowings5651
Total short-term borrowings$528$51
Schedule of Long-Term Debt Long-term debt consisted of the following:
(dollars in millions)June 30, 2025December 31, 2024
2.056% notes due 2025
$— $1,300 
0.370% notes due 2026 (¥21.5 billion principal value)
147 137 
0.318% notes due 2026 (€600 million principal value)
696 624 
2.293% notes due 2027
500 500 
2.875% notes due 2027 (€850 million principal value)
985 885 
5.250% notes due 2028
750 750 
2.565% notes due 2030
1,500 1,500 
5.125% notes due 2031
600 600 
0.934% notes due 2031 (€500 million principal value)
580 520 
3.112% notes due 2040
750 750 
3.362% notes due 2050
750 750 
Other (including finance leases)7 6 
Total principal long-term debt7,265 8,322 
Other (discounts and debt issuance costs)(44)(49)
Total long-term debt7,221 8,273 
Less: current portion147 1,300 
Long-term debt, net of current portion$7,074 $6,973 
Schedule of Debt The Condensed Consolidated Statements of Operations for the quarters and six months ended June 30, 2025 and 2024 reflects the following:
Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Debt issuance costs amortization$2 $2 $5 $4 
Total interest expense on external debt50 43 107 86 
The weighted average interest expense rate on our borrowings outstanding as of June 30, 2025 and December 31, 2024 was as follows:
June 30, 2025December 31, 2024
Short-term commercial paper3.2%—%
Total long-term debt2.8%2.7%
Schedule of Average Interest Expense Rate
The weighted average interest expense rate on our borrowings during the quarters and six months ended June 30, 2025 and 2024 was as follows:

Quarter Ended June 30,Six Months Ended June 30,
2025202420252024
Short-term commercial paper4.2%5.5%4.2%5.5%
Total long-term debt2.8%2.5%2.8%2.5%