| Schedule of long-term debt and current portion of long-term debt |
Long-term debt and the current portion of long-term debt includes: | | | | | | | | | | | | | | December 31, | | Dollars in millions | 2025 | | 2024 | | Principal Value: | | | | | | | | | | | | 0.750% Notes due 2025 | $ | — | | | $ | 1,000 | | 1.000% Euro Notes due 2025 | — | | | 598 | | 3.875% Notes due 2025 | — | | | 229 | | 3.200% Notes due 2026 | 1,220 | | | 1,750 | | Floating Rate Notes due 2026 (a) | 500 | | | 500 | | 4.950% Notes due 2026 | — | | | 1,000 | | 6.800% Notes due 2026 | 256 | | | 256 | | 1.125% Notes due 2027 | 1,000 | | | 1,000 | | 3.250% Notes due 2027 | 512 | | | 512 | | 3.450% Notes due 2027 | 534 | | | 534 | | 4.900% Notes due 2027 | — | | | 1,000 | | 3.900% Notes due 2028 | 544 | | | 1,500 | | 3.400% Notes due 2029 | 1,427 | | | 2,400 | | 4.900% Notes due 2029 | 727 | | | 1,750 | | 1.450% Notes due 2030 | 1,250 | | | 1,250 | | 2.973% Euro Notes due 2030 | 881 | | | — | | 5.100% Notes due 2031 | 1,250 | | | 1,250 | | 5.750% Notes due 2031 | 1,000 | | | 1,000 | | 2.950% Notes due 2032 | 1,750 | | | 1,750 | | 3.363% Euro Notes due 2033 | 1,351 | | | — | | 5.900% Notes due 2033 | 750 | | | 1,000 | | 5.200% Notes due 2034 | 2,500 | | | 2,500 | | 1.750% Euro Notes due 2035 | 676 | | | 598 | | 5.875% Notes due 2036 | 279 | | | 279 | | 3.857% Euro Notes due 2038 | 1,351 | | | — | | 6.125% Notes due 2038 | 219 | | | 219 | | 4.125% Notes due 2039 | 2,000 | | | 2,000 | | 2.350% Notes due 2040 | 750 | | | 750 | | 5.700% Notes due 2040 | 153 | | | 153 | | 3.250% Notes due 2042 | 500 | | | 500 | | 3.550% Notes due 2042 | 1,250 | | | 1,250 | | 5.250% Notes due 2043 | 226 | | | 226 | | 4.500% Notes due 2044 | 342 | | | 342 | | 4.625% Notes due 2044 | 748 | | | 748 | | 5.500% Notes due 2044 | 500 | | | 500 | | 4.289% Euro Notes due 2045 | 881 | | | — | | 5.000% Notes due 2045 | 758 | | | 758 | | 4.350% Notes due 2047 | 1,250 | | | 1,250 | | 4.550% Notes due 2048 | 1,272 | | | 1,272 | | 4.250% Notes due 2049 | 3,750 | | | 3,750 | | 2.550% Notes due 2050 | 1,500 | | | 1,500 | | 3.700% Notes due 2052 | 2,000 | | | 2,000 | | 6.250% Notes due 2053 | 439 | | | 1,250 | | 5.550% Notes due 2054 | 2,750 | | | 2,750 | | 4.581% Euro Notes due 2055 | 1,410 | | | — | | 3.900% Notes due 2062 | 1,000 | | | 1,000 | | 6.400% Notes due 2063 | 371 | | | 1,250 | | 5.650% Notes due 2064 | 440 | | | 1,750 | | 6.875% Notes due 2097 | 56 | | | 63 | | | Total | $ | 44,323 | | | $ | 48,937 | |
(a) As of December 31, 2025, floating rate equals SOFR+0.49%. | | | | | | | | | | | | | | December 31, | | Dollars in millions | 2025 | | 2024 | | Principal Value | $ | 44,323 | | | $ | 48,937 | | Adjustments to principal value: | | | | | Fair value of interest rate swap contracts | 41 | | | (10) | | | Unamortized basis adjustment from swap terminations | 60 | | | 71 | | | Unamortized bond discounts and issuance costs | (347) | | | (390) | | | Unamortized purchase price adjustments of Celgene debt | 751 | | | 823 | | | Total | $ | 44,827 | | | $ | 49,431 | | | | | | Current portion of Long-term debt | $ | 1,977 | | | $ | 1,828 | | | Long-term debt | 42,850 | | | 47,603 | | | Total | $ | 44,827 | | | $ | 49,431 | |
In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes ("2025 Senior Unsecured Notes"), with proceeds, net of loan issuance costs, of $5.7 billion, consisting of:
| | | | | | | Principal Amount (in € millions) | 2.973% Notes due 2030 | € | 750 | | 3.363% Notes due 2033 | 1,150 | | 3.857% Notes due 2038 | 1,150 | | 4.289% Notes due 2045 | 750 | | 4.581% Notes due 2055 | 1,200 | | Total | € | 5,000 | |
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