Schedule of Long-term Debt Instruments |
The carrying value of our outstanding debt obligations as of June 30, 2025 and December 31, 2024 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Principal Amount | | | | Carrying Value | | | | | | | | | | | Maturity | | 2025 | | 2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fixed-rate senior notes: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3.900% senior notes | $ | — | | | 2025 | | $ | — | | | $ | 1,000 | | | | | | | | | | 2.400% senior notes | 500 | | | 2026 | | 500 | | | 499 | | | | | | | | | | 3.050% senior notes | 1,000 | | | 2027 | | 997 | | | 997 | | | | | | | | | | 3.400% senior notes | 750 | | | 2029 | | 748 | | | 748 | | | | | | | | | | 2.500% senior notes | 400 | | | 2029 | | 398 | | | 398 | | | | | | | | | | 4.450% senior notes | 750 | | | 2030 | | 746 | | | 746 | | | | | | | | | | 4.650% senior notes | 500 | | | 2030 | | 498 | | | — | | | | | | | | | | 4.875% senior notes | 900 | | | 2033 | | 895 | | | 895 | | | | | | | | | | 5.150% senior notes | 900 | | | 2034 | | 894 | | | 894 | | | | | | | | | | 5.250% senior notes | 1,250 | | | 2035 | | 1,240 | | | — | | | | | | | | | | 6.200% senior notes | 1,500 | | | 2038 | | 1,486 | | | 1,486 | | | | | | | | | | 5.200% senior notes | 500 | | | 2040 | | 494 | | | 495 | | | | | | | | | | 4.875% senior notes | 500 | | | 2040 | | 492 | | | 492 | | | | | | | | | | 3.625% senior notes | 375 | | | 2042 | | 369 | | | 369 | | | | | | | | | | 3.400% senior notes | 500 | | | 2046 | | 492 | | | 492 | | | | | | | | | | 3.750% senior notes | 1,150 | | | 2047 | | 1,138 | | | 1,138 | | | | | | | | | | 4.250% senior notes | 750 | | | 2049 | | 743 | | | 743 | | | | | | | | | | 3.400% senior notes | 700 | | | 2049 | | 690 | | | 689 | | | | | | | | | | 5.300% senior notes | 1,250 | | | 2050 | | 1,232 | | | 1,232 | | | | | | | | | | 5.050% senior notes | 1,100 | | | 2053 | | 1,083 | | | 1,083 | | | | | | | | | | 5.500% senior notes | 1,100 | | | 2054 | | 1,087 | | | 1,087 | | | | | | | | | | 5.950% senior notes | 1,250 | | | 2055 | | 1,232 | | | — | | | | | | | | | | 5.600% senior notes | 600 | | | 2064 | | 590 | | | 590 | | | | | | | | | | 6.050% senior notes | 1,000 | | | 2065 | | 985 | | | — | | | | | | | | | | Floating-rate senior notes: | | | | | | | | | | | | | | | | Floating-rate senior notes | 1,944 | | | 2049-2075 | | 1,921 | | | 1,755 | | | | | | | | | | Debentures: | | | | | | | | | | | | | | | | 7.620% debentures | 276 | | | 2030 | | 279 | | | 279 | | | | | | | | | | Pound Sterling notes: | | | | | | | | | | | | | | | | 5.500% notes | 91 | | | 2031 | | 91 | | | 83 | | | | | | | | | | 5.125% notes | 624 | | | 2050 | | 594 | | | 544 | | | | | | | | | | Euro senior notes: | | | | | | | | | | | | | | | | 1.625% senior notes | 820 | | | 2025 | | 820 | | | 731 | | | | | | | | | | 1.000% senior notes | 586 | | | 2028 | | 584 | | | 521 | | | | | | | | | | 1.500% senior notes | 586 | | | 2032 | | 584 | | | 521 | | | | | | | | | | Finance lease obligations (see note 10) | 516 | | | 2025-2118 | | 516 | | | 455 | | | | | | | | | | Facility notes and bonds | 320 | | | 2029-2045 | | 320 | | | 320 | | | | | | | | | | Other debt | 2 | | | 2025-2026 | | 2 | | | 2 | | | | | | | | | | Total debt | $ | 24,990 | | | | | $ | 24,740 | | | $ | 21,284 | | | | | | | | | | Less: current maturities | | | | | (920) | | | (1,838) | | | | | | | | | | Long-term debt | | | | | $ | 23,820 | | | $ | 19,446 | | | | | | | | | |
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