| Schedule of Long-term Debt Instruments |
The components of long-term debt are as follows: | | | | | | | | | | | | | | | | | | (Dollars in Millions) | 2025 | | 2024 | | | | 2.625% Notes due 2025 | $— | | 750 | | | | 0.55% Notes due 2025 | — | | 999 | | | | 2.45% Notes due 2026 | 2,000 | | 1,999 | | | | 2.95% Notes due 2027 | 968 | | 927 | | | | 0.95% Notes due 2027 | 1,499 | | 1,458 | | | | 4.50% Notes due 2027(4) | 749 | | — | | | | 1.150% Notes due 2028 (750MM Euro 1.1785)(1)/(750MM Euro 1.0401)(2) | 882 | | 777 | | | | 2.90% Notes due 2028 | 1,498 | | 1,498 | | | | 4.55% Notes due 2028(4) | 748 | | — | | | | 6.95% Notes due 2029 | 299 | | 298 | | | | 4.80% Notes due 2029 | 1,147 | | 1,146 | | | | 2.70% Notes due 2029 (4) (600MM Euro 1.1785)(1) | 707 | | — | | | | 1.30% Notes due 2030 | 1,693 | | 1,646 | | | | 4.70% Notes due 2030(4) | 996 | | — | | | | 4.90% Notes due 2031 | 1,146 | | 1,145 | | | | 3.20% Notes due 2032 (700MM Euro 1.1785)(1)/($700MM Euro 1.0401)(2) | 822 | | 725 | | | | 4.85% Notes due 2032(4) | 1,243 | | — | | | | 4.95% Notes due 2033 | 499 | | 499 | | | | 4.375% Notes due 2033 | 853 | | 854 | | | | 3.05% Notes due 2033(4) ( 700MM Euro 1.1785)(1) | 823 | | — | | | | 4.95% Notes due 2034 | 847 | | 846 | | |
| 1.650% Notes due 2035 (1.5B Euro 1.1785)(1)/(1.5B Euro 1.0401)(2) | 1,758 | | 1,550 | | | | 5.00% Notes due 2035(4) | 1,244 | | — | | | | 3.35% Notes due 2036 (800MM Euro 1.1785)(1)(800MM Euro 1.0401)(2) | 938 | | 827 | | | | 3.587% Notes due 2036 | 919 | | 869 | | | | 5.95% Notes due 2037 | 995 | | 994 | | | | 3.625% Notes due 2037 | 1,409 | | 1,358 | | | | 3.35% Notes due 2037(4) (1B Euro 1.1785)(1) | 1,176 | | — | | | | 5.85% Notes due 2038 | 697 | | 697 | | | | 3.40% Notes due 2038 | 994 | | 993 | | | | 4.50% Notes due 2040 | 542 | | 541 | | | | 2.10% Notes due 2040 | 898 | | 845 | | | | 4.85% Notes due 2041 | 298 | | 297 | | | | 4.50% Notes due 2043 | 497 | | 496 | | | | 3.55% Notes due 2044 (1B Euro 1.1785)(1)(1B Euro 1.0401)(2) | 1,168 | | 1,030 | | | | 3.60% Notes due 2045(4) (700MM Euro 1.1785)(1) | 819 | | — | | | | 3.73% Notes due 2046 | 1,979 | | 1,978 | | | | 3.75% Notes due 2047 | 876 | | 822 | | | | 3.50% Notes due 2048 | 744 | | 744 | | | |
| | | | | | | | | | | | | | | | | 2.25% Notes due 2050 | 861 | | 808 | | | | 5.25% Notes due 2054 | 843 | | 843 | | | | 3.70% Notes due 2055(4) (1B Euro 1.1785)(1) | 1,173 | | — | | | | 2.45% Notes due 2060 | 1,112 | | 1,058 | | | | | Other | 79 | | 83 | | | | | Subtotal | 41,438 | (3) | 32,400 | | | (3) | | Less current portion | 2,000 | | 1,749 | | | | | Total long-term debt | $39,438 | | $30,651 | | | |
(1)Translation rate at December 28, 2025. (2)Translation rate at December 29, 2024. (3)The excess of the carrying value over the fair value of debt was $1.7 billion and $2.0 billion at the end of the fiscal year 2025 and the fiscal year 2024, respectively. (4)In the fiscal first quarter of 2025, the Company issued senior unsecured notes for approximately $9.2 billion. The net proceeds from this offering were used to fund the Intra-Cellular Therapies, Inc. acquisition which closed on April 2, 2025, and for general corporate purposes.
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