As of September 30, 2025 and December 31, 2024, the Company had debt outstanding as follows: | | | | | | | | | | | | | September 30, | | December 31, | (in millions) | 2025 | | 2024 | | Short-term borrowings | $ | 3 | | | $ | 61 | | | | | | | Long-term debt | | | | 3.375% Senior notes due 03/15/25 | — | | | 334 | | 2.650% Senior notes due 07/01/27 ($1,100 million par value) | 1,097 | | | 1,095 | | 7.125% Senior notes due 02/15/29 ($121 million par value) | 120 | | | 120 | | 4.950% Senior notes due 08/15/29 ($500 million par value) | 496 | | | 495 | | 1.000% Senior notes due 05/19/31 (€1,000 million par value) | 1,161 | | | 1,022 | | 5.400% Senior notes due 08/15/34 ($500 million par value) | 493 | | | 493 | | 4.375% Senior notes due 03/15/45 ($500 million par value) | 495 | | | 495 | | | Term loan facilities, finance leases and other | 35 | | | 46 | | | Total long-term debt | 3,897 | | | 4,100 | | | Less: current portion | 3 | | | 337 | | | Long-term debt, net of current portion | $ | 3,894 | | | $ | 3,763 | |
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