
	December 31,
	2025		2024
	(in millions)
Senior secured term loan facility with a rate of 5.48%, due 2030	$	3,119	$	3,119
Senior notes with a rate of 5.375%, due 2025(1)	—		500
Senior notes with a rate of 4.875%, due 2027(1)	600		600
Senior notes with a rate of 5.750%, due 2028(1)	—		500
Senior notes with a rate of 5.875%, due 2029(1)	550		550
Senior notes with a rate of 3.750%, due 2029(1)	800		800
Senior notes with a rate of 4.875%, due 2030(1)	1,000		1,000
Senior notes with a rate of 4.000%, due 2031(1)	1,100		1,100
Senior notes with a rate of 3.625%, due 2032(1)	1,500		1,500
Senior notes with a rate of 6.125%, due 2032(1)	450		450
Senior notes with a rate of 5.875%, due 2033(1)	1,000		1,000
Senior notes with a rate of 5.750%, due 2033(1)	1,000		—
Senior notes with a rate of 5.500%, due 2034(1)	1,000		—
Finance lease liabilities with a weighted average rate of 4.65%, due 2026 to 2060(2)	340		117
	12,459		11,236
Less: unamortized deferred financing costs and discount	(96)		(85)
Less: current maturities of long-term debt(3)	(25)		(535)
	$	12,338	$	10,616

(1)These notes are collectively referred to as the Senior Notes and are jointly and severally guaranteed on a senior unsecured basis by the Parent and substantially all of its direct and indirect wholly owned domestic restricted subsidiaries, other than Hilton Domestic Operating Company Inc. ("HOC"), an indirect wholly owned subsidiary of the Parent and the issuer of all of the series of Senior Notes.

(2)Includes long-term debt of our consolidated VIEs. Refer to Note 5: "Consolidated Variable Interest Entities" for additional information, as well as an explanation of the increase in the total finance lease liabilities as of December 31, 2025, when compared to December 31, 2024.

(3)Amount as of December 31, 2025 represents current maturities of finance lease liabilities. Amount as of December 31, 2024 represents current maturities of finance lease liabilities and the 5.375% Senior Notes due 2025 (the "May 2025 Senior Notes").