v3.26.1
Financing Arrangements
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Financing Arrangements Financing Arrangements
Debt carrying amounts, net of related discounts, premiums and debt issuance costs, were as follows:
As of
March 31, 2026		As of
December 31, 2025
2.900% senior notes due June 1, 2030
$597 $597 
3.200% senior notes due October 1, 2026 (i)
499 499 
3.900% senior notes due June 1, 2050
392 392 
6.625% senior notes due April 15, 2037
253 253 
Revolving credit agreement— — 
Other long-term borrowings1 1 
Total long-term debt1,742 1,742 
Commercial paper— — 
Other short-term borrowings83 48 
Total short-term borrowings83 48 
Total debt$1,825 $1,790 
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(i)The senior notes due October 1, 2026 are classified as long-term debt as we have the intent and ability to refinance the notes on a long-term basis.
We maintain a commercial paper program under which we may issue senior unsecured notes of short-term maturities up to a maximum aggregate principal amount of $1.0 billion outstanding at any time. The notes may be sold from time to time on customary terms in the U.S. commercial paper market, and we may use the note proceeds for general corporate purposes. As of March 31, 2026 and December 31, 2025, there was no commercial paper outstanding. During the first quarter of 2026 and 2025, there was no activity related to this program. The amount of commercial paper outstanding under this program for the remainder of 2026, if any, may fluctuate.
Other short-term borrowings as of March 31, 2026 and December 31, 2025 primarily include amounts outstanding under various unsecured local country operating lines of credit.