v3.26.1
Debt and Credit Facilities
 3 Months Ended
Mar. 31, 2026
Long-Term Debt, Unclassified [Abstract]  
Debt And Credit Facilities DEBT AND CREDIT FACILITIES
We have lines of credit issued by various financial institutions that
are available to fund our day-to-day operating needs. Certain of
our credit facilities require us to comply with financial and other
covenants. We were in compliance with all covenants on
March 31, 2026.
On March 31, 2026 there were no borrowings outstanding under
our revolving credit facility or our commercial paper program
which allows for maturities up to 397 days from the date of
issuance. The maximum amount of our commercial paper that
can be outstanding at any time is $3,000.                                                       
In March 2026 we repaid $1,000 of 3.500% senior unsecured
notes. The following table summarizes our total debt at March 31:
Summary of Total Debt
March 31
December 31
Rate
Due
2026
2025
Senior unsecured notes:
3.500%
March 15, 2026
—
1,000
4.550%
February 10, 2027
499
498
2.125%
November 30, 2027
860
881
4.700%
February 10, 2028
697
697
3.650%
March 7, 2028
599
599
4.850%
December 8, 2028
597
597
3.375%
December 11, 2028
687
704
0.750%
March 1, 2029
916
939
4.250%
September 11, 2029
745
744
4.850%
February 10, 2030
794
794
1.950%
June 15, 2030
995
995
2.625%
November 30, 2030
741
759
1.000%
December 3, 2031
855
876
3.375%
September 11, 2032
911
934
4.625%
September 11, 2034
741
741
5.200%
February 10, 2035
990
990
3.625%
September 11, 2036
679
695
4.100%
April 1, 2043
393
393
4.375%
May 15, 2044
396
396
4.625%
March 15, 2046
985
984
2.900%
June 15, 2050
643
643
Other
—
—
Total debt
$14,723
$15,859
Less current maturities
499
1,000
Total long-term debt
$14,224
$14,859
March 31
December 31
2026
2025
Unamortized debt issuance costs
$67
$70
Borrowing capacity on existing facilities
$2,907
$2,911
Fair value of senior unsecured notes
$13,975
$15,344
The fair value of the senior unsecured notes was estimated using
quoted interest rates, maturities and amounts of borrowings
based on quoted active market prices and yields that took into
account the underlying terms of the debt instruments.
Substantially all of our debt is classified within Level 2 of the fair
value hierarchy.
Interest expense on outstanding debt and credit facilities,
including required fees incurred totaled $142 and $132 for the
three months 2026 and 2025