v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Outstanding
The Company had debt outstanding as follows:
December 31,
(in millions)20252024
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)
1,163 1,022 
5.400% Senior notes due 08/15/34 ($500 million par value)
494 493 
4.375% Senior notes due 03/15/45 ($500 million par value)
495 495 
Term loan facilities, finance leases and other31 46 
Total long-term debt3,896 4,100 
Less: current portion2 337 
Long-term debt, net of current portion$3,894 $3,763 
Schedule of Consolidated Statements of Operations
The following table provides details on Interest expense, net included in the Consolidated Statement of Operations:
Year Ended December 31,
(in millions)202520242023
Interest expense$99 $84 $73 
Interest income(60)(54)(35)
Gain on debt extinguishment— (10)(28)
Interest expense, net$39 $20 $10 
Schedule of Annual Principal Payments
Annual principal payments required as of December 31, 2025 are as follows:
(in millions)
2026$5 
20271,106 
20285 
2029633 
20302 
After 20302,179 
Total payments$3,930 
Less: unamortized premiums, net of discount(31)
Total short and long-term debt$3,899