| Schedule of Long-Term Debt |
Long-term debt consisted of the following:
|
|
|
|
|
|
|
|
|
(in millions) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Current portion of long-term debt: |
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|
|
|
|
|
Current portion of 5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.50%, expires June 5, 2031 |
|
$ |
13 |
|
|
$ |
— |
|
Current portion of 5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.750%, expires October 27, 2026 |
|
|
— |
|
|
|
169 |
|
4.600% senior notes, semi-annual interest payments, balloon due 2026 |
|
|
400 |
|
|
|
400 |
|
Current portion of 5-year revolving loan facility, periodic interest payments,
SOFR plus up to 1.525%, plus commitment fees up to 0.225%, expires October 27, 2026 |
|
|
— |
|
|
|
100 |
|
Current portion of 5-year term loan facility expires 2027 |
|
|
— |
|
|
|
50 |
|
Total current portion of long-term debt |
|
|
413 |
|
|
|
719 |
|
Long-term debt: |
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|
|
|
|
|
4.700% senior notes, semi-annual interest payments, balloon due 2028 |
|
|
500 |
|
|
|
500 |
|
4.500% senior notes, semi-annual interest payments, balloon due 2029 |
|
|
350 |
|
|
|
350 |
|
4.900% senior notes, semi-annual interest payments, balloon due 2030 |
|
|
800 |
|
|
|
800 |
|
2.375% senior notes, semi-annual interest payments, balloon due 2031 |
|
|
700 |
|
|
|
700 |
|
4.200% senior notes, semi-annual interest payments, balloon due 2032 |
|
|
600 |
|
|
|
600 |
|
5.250% senior notes, semi-annual interest payments, balloon due 2032 |
|
|
500 |
|
|
|
500 |
|
5.650% senior notes, semi-annual interest payments, balloon due 2034 |
|
|
600 |
|
|
|
600 |
|
5.550% senior notes, semi-annual interest payments, balloon due 2035 |
|
|
1,000 |
|
|
|
1,000 |
|
4.950% senior notes, semi-annual interest payments, balloon due 2052 |
|
|
600 |
|
|
|
600 |
|
6.250% senior notes, semi-annual interest payments, balloon due 2055 |
|
|
1,000 |
|
|
|
1,000 |
|
Total notes |
|
|
6,650 |
|
|
|
6,650 |
|
Credit agreements: |
|
|
|
|
|
|
3-year term loan facility, periodic interest payments, SOFR plus up to 1.375%, expires June 5, 2029 |
|
|
250 |
|
|
|
— |
|
5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.50%, expires June 5, 2031 |
|
|
237 |
|
|
|
— |
|
5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.750%, expires March 31, 2027 |
|
|
— |
|
|
|
313 |
|
5-year revolving loan facility, periodic interest payments,
SOFR plus up to 1.30%, plus commitment fees up to 0.20%, expires June 5, 2031 |
|
|
275 |
|
|
|
— |
|
Total credit agreements |
|
|
762 |
|
|
|
313 |
|
Unamortized portion of debt discounts related to note agreements (contra) |
|
|
(17 |
) |
|
|
(18 |
) |
Debt issuance costs (contra) |
|
|
(49 |
) |
|
|
(51 |
) |
Total long-term debt, less unamortized discount and debt issuance costs |
|
|
7,346 |
|
|
|
6,894 |
|
Current portion of long-term debt |
|
|
413 |
|
|
|
719 |
|
Total debt |
|
$ |
7,759 |
|
|
$ |
7,613 |
|
|