v3.26.1
Credit Arrangements (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Summary of Credit Facilities
The following is a summary of the Company’s revolving credit facilities as of March 31, 2026:
Facility
Interest Rates
$2,000 million (revolving credit facility)
U.S. Dollar Term SOFR plus a margin of 1.25% as of March 31, 2026
$110 million (receivables financing facility)
U.S. Dollar Term SOFR plus a margin of 1.00% plus a 10 basis credit spread adjustment as of March 31, 2026
Summary of Debt
The following table summarizes the Company’s debt at the dates indicated:
(dollars in millions)March 31, 2026December 31, 2025
Revolving Credit Facility due 2030:
U.S. Dollar denominated borrowings—U.S. Dollar Term SOFR at average floating rates of 4.92%
$1,000 $800 
Senior Secured Credit Facilities:
Term A Loan due 2030—Euribor at floating rates of 3.14%
281 290 
Term A Loan due 2030—U.S. Dollar Term SOFR at floating rates of 4.92%
2,135 2,162 
Term B Loan due 2031—U.S. Dollar Term SOFR at floating rates of 5.45%
1,960 1,965 
5.700% Senior Secured Notes due 2028—U.S. Dollar denominated
750 750 
6.250% Senior Secured Notes due 2029—U.S. Dollar denominated
1,250 1,250 
5.0% Senior Notes due 2027—U.S. Dollar denominated
1,100 1,100 
5.0% Senior Notes due 2026—U.S. Dollar denominated
1,050 1,050 
6.500% Senior Notes due 2030—U.S. Dollar denominated
500 500 
6.250% Senior Notes due 2032—U.S. Dollar denominated
2,000 2,000 
2.25% Senior Notes due 2028—Euro denominated
828 845 
2.875% Senior Notes due 2028—Euro denominated
818 835 
1.750% Senior Notes due 2026—Euro denominated
— 646 
2.250% Senior Notes due 2029—Euro denominated
1,036 1,057 
Term Loan due 2027—U.S. Dollar Term SOFR at floating rates of 4.92%
650 — 
Receivables financing facility due 2027—U.S. Dollar Term SOFR at floating rates of 4.78%:
Revolving Loan Commitment110 110 
Term Loan440 440 
Principal amount of debt15,908 15,800 
Less: unamortized discount and debt issuance costs(75)(76)
Less: current portion(1,844)(1,840)
Long-term debt$13,989 $13,884 
Schedule of Contractual Maturities of Long-term Debt
Contractual maturities of long-term debt as of March 31, 2026 are as follows:
(in millions)
Remainder of 2026$1,158 
20272,444 
20282,540 
20292,429 
20303,471 
Thereafter3,866 
$15,908