v3.26.1
LONG-TERM DEBT (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following:
Effective Interest RateFace ValueJune 30, 2026December 31, 2025
In millionsBook Value
Fair Value1
Book Value
Fair Value1
2025 Credit Agreement:
Revolving Credit Facility4.4 %N/A$638 $638 $— $— 
Term Loan Facility, due 20304.9 %$725 721 725 721 725 
2025 Term Credit Agreement:
Term Loan, due 20264.8 %$500 500 500 500 500 
Senior Notes:
3.45% Senior Notes, due 2026
3.5 %$750 750 748 750 746 
1.25% Senior Notes (EUR), due 2027
1.5 %€500 568 555 583 575 
4.70% Senior Notes, due 2028
4.8 %$1,250 1,248 1,252 1,247 1,266 
4.90% Senior Notes, due 2030
5.1 %$500 496 505 496 512 
5.611% Senior Notes, due 2034
5.7 %$500 496 516 496 526 
5.50% Senior Notes, due 2035
5.6 %$750 743 769 743 783 
Revolving Receivables Program
4.5 %N/A400 400 — — 
Other Borrowings11 11 5 5 
Total6,571 6,619 5,541 5,638 
Less: current portion(1,656)(1,654)(1,250)(1,246)
Long-term portion$4,915 $4,965 $4,291 $4,392 
1. See Note 13 for information on the fair value measurement of the Company's long-term debt.
Schedule of Line of Credit Facilities
The following table presents availability under the 2025 Credit Agreement at June 30, 2026:
In millionsRevolving Credit FacilityTerm Loan FacilityTotal
Maximum Availability$2,000 $725 $2,725 
Outstanding Borrowings(638)(725)(1,363)
Letters of Credit Under Credit Agreement— — — 
Current Availability$1,362 $— $1,362