v3.25.4
Debt Facilities (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2025 and 2024, our mortgage and loans payable balance consisted of the following (in millions):
20252024
Term loans$673 $628 
Mortgage payable and other loans payable30 21 
703 649 
Less current portion(17)(5)
$686 $644 
Our senior notes balance consisted of the following as of December 31 (in millions):
20252024
Senior NotesIssuance DateMaturity DateAmountEffective RateAmountEffective Rate
1.250% Senior Notes due 2025
June 2020July 2025$— — %$500 1.46 %
1.000% Senior Notes due 2025
October 2020September 2025— — %700 1.18 %
1.450% Senior Notes due 2026
May 2021May 2026700 1.64 %700 1.64 %
2.900% Senior Notes due 2026
November 2019November 2026600 3.04 %600 3.04 %
0.250% Euro Senior Notes due 2027
March 2021March 2027587 0.45 %518 0.45 %
1.800% Senior Notes due 2027
June 2020July 2027500 1.96 %500 1.96 %
1.550% Senior Notes due 2028
October 2020March 2028650 1.67 %650 1.67 %
2.000% Senior Notes due 2028
May 2021May 2028400 2.21 %400 2.21 %
2.875% Swiss Franc Senior Notes due 2028
September 2023September 2028378 3.05 %331 3.05 %
3.250% Euro Senior Notes due 2029
May 2025May 2029881 3.45 %— — %
1.558% Swiss Franc Senior Notes due 2029
September 2024September 2029126 1.79 %110 1.79 %
3.200% Senior Notes due 2029
November 2019November 20291,200 3.30 %1,200 3.30 %
3.500% Singapore Dollar Senior Notes due 2030
March 2025March 2030389 3.67 %— — %
2.150% Senior Notes due 2030
June 2020July 20301,100 2.27 %1,100 2.27 %
4.600% Senior Notes due 2030
November 2025November 20301,250 4.81 %— — %
3.250% Euro Senior Notes due 2031
November 2024March 2031763 3.46 %673 3.46 %
2.500% Senior Notes due 2031
May 2021May 20311,000 2.65 %1,000 2.65 %
3.900% Senior Notes due 2032
April 2022April 20321,200 4.07 %1,200 4.07 %
2.900% Singapore Dollar Senior Notes due 2032
August 2025September 2032505 3.01 %— — %
4.000% Canadian Dollar Senior Notes due 2032
November 2025November 2032510 4.29 %— — %
1.000% Euro Senior Notes due 2033
March 2021March 2033705 1.18 %622 1.18 %
3.650% Euro Senior Notes due 2033
September 2024September 2033705 3.78 %622 3.78 %
4.000% Euro Senior Notes due 2034
May 2025May 2034881 4.17 %— — %
5.500% Senior Notes due 2034
May 2024June 2034750 5.74 %750 5.74 %
3.625% Euro Senior Notes due 2034
November 2024November 2034587 3.75 %518 3.75 %
2.000% Japanese Yen Series A Notes due 2035
March 2023March 2035240 2.07 %239 2.07 %
2.130% Japanese Yen Series C Notes due 2035
March 2023March 203594 2.20 %94 2.20 %
2.370% Japanese Yen Series B Notes due 2043
March 2023March 204365 2.42 %65 2.42 %
2.570% Japanese Yen Series D Notes due 2043
March 2023March 204329 2.62 %29 2.62 %
2.570% Japanese Yen Series E Notes due 2043
February 2023March 204364 2.62 %64 2.62 %
3.000% Senior Notes due 2050
June 2020July 2050500 3.09 %500 3.09 %
2.950% Senior Notes due 2051
October 2020September 2051500 3.00 %500 3.00 %
3.400% Senior Notes due 2052
May 2021February 2052500 3.50 %500 3.50 %
18,359 14,685 
Less amount representing unamortized debt discounts and debt issuance costs(150)(123)
18,209 14,562 
Less current portion(1,299)(1,199)
$16,910 $13,363 
Schedule of Optional Redemption
With respect to the notes listed below, we may redeem at our election, at any time or from time to time, some or all of the notes of any series before they mature. The redemption price will equal the sum of (1) an amount equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest up to, but not including, the redemption date and (2) a make-whole premium. If the notes are redeemed on or after the date listed in the table below (the "First Par Call Date"), the redemption price will not include a make-whole premium for the applicable notes.
Senior Notes DescriptionFirst Par Call Date
1.450% Senior Notes due 2026
April 15, 2026
2.900% Senior Notes due 2026
September 18, 2026
0.250% Euro Senior Notes due 2027
January 15, 2027
1.800% Senior Notes due 2027
May 15, 2027
1.550% Senior Notes due 2028
January 15, 2028
2.000% Senior Notes due 2028
March 15, 2028
2.875% Swiss Franc Senior Notes due 2028
June 12, 2028
3.250% Euro Senior Notes due 2029
April 19, 2029
1.558% Swiss Franc Senior Notes due 2029
June 4, 2029
3.200% Senior Notes due 2029
August 18, 2029
3.500% Singapore Dollar Senior Notes due 2030
February 15, 2030
2.150% Senior Notes due 2030
April 15, 2030
4.600% Senior Notes due 2030
October 15, 2030
3.250% Euro Senior Notes due 2031
January 15, 2031
2.500% Senior Notes due 2031
February 15, 2031
3.900% Senior Notes due 2032
January 15, 2032
2.900% Singapore Dollar Senior Notes due 2032
July 15, 2032
4.000% Canadian Dollar Senior Notes due 2032
September 15, 2032
1.000% Euro Senior Notes due 2033
December 15, 2032
3.650% Euro Senior Notes due 2033
June 3, 2033
4.000% Euro Senior Notes due 2034
February 19, 2034
5.500% Senior Notes due 2034
March 15, 2034
3.625% Euro Senior Notes due 2034
August 22, 2034
2.000% Japanese Yen Series A Notes due 2035
March 8, 2035
2.130% Japanese Yen Series C Notes due 2035
March 8, 2035
2.370% Japanese Yen Series B Notes due 2043
March 8, 2043
2.570% Japanese Yen Series D Notes due 2043
March 8, 2043
2.570% Japanese Yen Series E Notes due 2043
March 8, 2043
3.000% Senior Notes due 2050
January 15, 2050
2.950% Senior Notes due 2051
March 15, 2051
3.400% Senior Notes due 2052
August 15, 2051
Schedule of Maturities of Debt Instruments
The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of December 31, 2025 (in millions):
Years ending:
20261,317 
20271,764 
20281,433 
20292,211 
20302,739 
Thereafter9,598 
$19,062 
Schedule of Interest Charges Incurred
The following table sets forth total interest costs incurred, and total interest costs capitalized for the years ended December 31 (in millions):
202520242023
Interest expense$527 $457 $402 
Interest capitalized79 36 26 
Interest charges incurred$606 $493 $428