
		As of		As of
	Maturity	June 30,		December 31,
	Date	2026		2025
5.750% Senior Notes	July 2027	$	348	$	645
4.750% Senior Notes	April 2028	500		500
7.000% euro-denominated Senior Notes	February 2029	685		705
5.375% Senior Notes	March 2029	600		600
8.250% Senior Notes	January 2030	700		700
7.250% euro-denominated Senior Notes	July 2030	686		705
8.000% Senior Notes	February 2031	799		498
8.375% Senior Notes	June 2032	600		600
Floating Rate Term Loan (a)	July 2032	1,127		1,131
Other (b)		36		45
Deferred financing fees		(59)		(56)
Total		6,022		6,073
Less: Short-term debt and current portion of long-term debt		23		24
Long-term debt		$	5,999	$	6,049

(a)The floating rate term loan is part of our senior revolving credit facilities, which is secured by pledges of capital stock of certain of our subsidiaries, and liens on substantially all of our intellectual property and certain other real and personal property. As of June 30, 2026, the floating rate term loan due 2032 bears interest at one-month Secured Overnight Financing Rate (“SOFR”) plus 2.50%, for an aggregate rate of 6.14%. We have entered into a swap to hedge $750 million of interest rate exposure related to the floating rate term loan at an aggregate rate of 4.01%.

In May 2026, we issued an additional $300 million of 8.000% Senior Notes due February 2031. Net proceeds were used to redeem a portion of our 5.750% Senior Notes due July 2027.


	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Senior revolving credit facility maturing 2028 (a)	$	200	$	—	$	—	$	200
Senior revolving credit facility maturing 2031 (a)	$	2,000	$	—	$	1,729	$	271

(a)The senior revolving credit facilities bear interest at one-month SOFR plus 2.00% and are part of our senior credit facilities, which include the floating rate term loan and the senior revolving credit facilities, and which are secured by pledges of capital stock of certain of our subsidiaries, and liens on substantially all of our intellectual property and certain other real and personal property.

In June 2026, we refinanced our existing $2 billion senior revolving credit facility with a new $2 billion senior revolving credit facility with a maturity in June 2031 and also established a new $200 million senior revolving credit facility with a maturity in June 2028.

As of June 30, 2026, we have other uncommitted standby letter of credit facilities (“SBLC facilities”) with an additional letter of credit capacity of up to $464 million. As of June 30, 2026, letters of credit totaling $464 million have been issued on our SBLC facilities, which results in no remaining available capacity.

The agreements governing our indebtedness contain restrictive covenants, including restrictions on dividends paid to us by certain of our subsidiaries, the incurrence of additional indebtedness and/or liens by us and certain of our subsidiaries, acquisitions, mergers, liquidations, and sale and leaseback transactions. Our senior credit facilities also contain a maximum leverage ratio requirement. As of June 30, 2026, we were in compliance with the financial covenants governing our indebtedness.