v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Effective interest
rate as of March 31,
As of
March 31,
As of
December 31,
(In millions)
2026
2026
2025
3.500% Unsecured Notes due 2026
3.53%
$326
$326
4.750% Unsecured Notes due 2046
4.81%
554
554
4.600% Unsecured Notes due 2027
4.65%
700
700
4.700% Unsecured Notes due 2028
4.76%
700
700
4.950% Unsecured Notes due 2030
5.01%
1,000
1,000
5.400% Unsecured Notes due 2035
5.47%
1,000
1,000
7.125% Unsecured Notes due 2036
7.25%
445
445
6.875% Unsecured Notes due 2039
6.99%
191
191
6.500% Unsecured Notes due 2043
6.61%
239
239
4.200% Unsecured Notes due 2033
4.24%
50
50
7.650% Private Placement due 2031
7.80%
50
50
Other
11
12
Total principal
5,266
5,267
Unamortized (discounts), premiums and debt issuance costs
3
2
Total long-term debt
5,269
5,269
Less: current portion of long-term debt
(333)
(333)
Long-term debt
$4,936
$4,936
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The fair value of the Company’s long-term debt was as follows:
(In millions)
As of March 31, 2026
Carrying amount
$4,936
Fair value
$5,011