v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Components of Debt
Debt consisted of the following:
(DOLLARS IN MILLIONS)Effective Interest RateMarch 31, 2026December 31, 2025
2026 Euro Notes(1)
1.93 %$925 $940 
2027 Notes(1)
1.56 %803 804 
2028 Notes(1)
4.57 %399 399 
2030 Notes(1)
2.21 %1,238 1,238 
2040 Notes(1)
3.04 %341 341 
2047 Notes(1)
4.44 %392 392 
2048 Notes(1)
5.12 %674 674 
2050 Notes(1)
3.21 %888 888 
Revolving Credit Facility(2)
— — 
Commercial paper(3)
154 314 
Bank overdrafts and other3 4 
Total debt5,817 5,994 
Less: Short-term borrowings(1,078)(1,254)
Total Long-term debt$4,739 $4,740 
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(1)Amount is net of unamortized discount and debt issuance costs.
(2)Borrowings under the Revolving Credit Facility are subject to interest at varying spreads above quoted market rates and a commitment fee is paid on the total unused borrowings.
(3)The effective interest rate of commercial paper issuances fluctuates as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Refer to “Commercial Paper” below.