
			June 30	December 31	June 30
in $ millions	Effective interest rate		2025	2024	2024
Long-term debt
(U.S. Dollar denominated unless otherwise noted)



3.875% Senior Notes due 2025	3.93	%	–	1,250	1,250
1.250% euro Senior Notes due 2026	1.25	%	879	780	802
3.400% Senior Notes due 2027	3.49	%	600	600	600
4.000% euro Senior Notes due 2027	4.13	%	586	520	535
3.950% Senior Notes due 2028	4.07	%	900	900	900
1.375% euro Senior Notes due 2028	1.42	%	703	624	642
5.200% Senior Notes due 2029	5.30	%	750	750	750
4.125% Sterling Senior Notes due 2029	4.22	%	548	501	506
5.125% Senior Notes due 2030	5.25	%	1,250	–	–
1.625% euro Senior Notes due 2030	1.72	%	879	780	802
4.000% euro Senior Notes due 2031	4.10	%	879	780	802
6.400% Senior Notes due 2033 (i)	6.43	%	213	213	213
5.400% Senior Notes due 2034	5.52	%	750	750	750
5.500% Senior Notes due 2035	5.57	%	1,250	–	–
4.250% euro Senior Notes due 2035	4.38	%	879	780	802
5.125% Senior Notes due 2045	5.25	%	500	500	500
4.400% Senior Notes due 2047	4.44	%	400	400	400
4.500% Senior Notes due 2048	4.63	%	600	600	600
5.875% Senior Notes due 2055	5.97	%	500	–	–
USD interest bearing loan due 2026	4.96	%	750	750	–
PHP interest bearing loan due 2027	5.89	%	410	379	386
AUD interest bearing loan due 2029	4.66	%	483	478	–
U.S. Dollar Commercial Paper	4.76	%	1,002	1,189	1,260
Euro Commercial Paper	–		–	347	498
Other			78	48	33
Unamortized discounts and debt issuance costs			(83)	(68)	(72)
Total long-term debt (ii)			15,706	13,851	12,959
Less: current portion of long-term debt (iii)			(1,064)	(2,882)	(3,059)
Long-term debt			14,642	10,969	9,900

(i) The $300 million 6.400% Senior Notes were issued in September 2003, and at the time of issuance the Senior Notes were partially swapped to floating interest rates. In August 2009 and December 2010, $87 million of the issued Senior Notes were acquired by the Company as part of liability management exercises undertaken and the interest rate hedge was closed out. The remaining fair value hedge adjustment on the hedged item in the Condensed Consolidated Balance Sheets was $25 million, $27 million, and $28 million at June 30, 2025, December 31, 2024, and June 30, 2024, respectively.

(ii) Of the Company’s nominal fixed rate debt at June 30, 2025, December 31, 2024, and June 30, 2024, $500 million, $1,375 million and $1,375 million, respectively, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal floating rate debt at June 30, 2025, December 31, 2024, and June 30, 2024, $nil million, $140 million, and $nil million, respectively, was hedged to fixed rates using interest rate swaps.