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BORROWINGS
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
BORROWINGS BORROWINGS
The Company’s borrowings include the senior unsecured notes and credit agreements detailed below.

Senior Unsecured Notes
As of June 30, 2026, the Company’s borrowings include $9,500 million aggregate principal amount of senior unsecured notes in nine series with maturity dates ranging from 2027 through 2052.

Credit Facilities
In the first quarter of 2026, the Company terminated its existing $500 million 364-day senior unsecured revolving credit facility and replaced it with a new $500 million 364-day senior unsecured revolving credit facility with terms that are substantially similar to those of the terminated facility.
The Company has credit agreements providing for:
•a five-year senior unsecured revolving credit facility in an aggregate committed amount of $3,000 million, maturing on March 27, 2030;
•a 364-day senior unsecured revolving credit facility in an aggregate committed amount of $500 million, maturing on February 25, 2027; and
•a three-year senior unsecured delayed draw term loan credit facility in an aggregate principal amount of $650 million, maturing on March 16, 2029 (the “Delayed Draw Term Loan Facility” and, together with the five-year senior unsecured revolving credit facility and the 364-day senior unsecured revolving credit facility, the “Credit Facilities”).
In the first quarter of 2026, in connection with the acquisition of Intelerad, the Company borrowed $500 million under the 364-day senior unsecured revolving credit facility and subsequently completed a $650 million drawdown of the Delayed Draw Term Loan Facility, which had aggregate lender commitments of $750 million. The $100 million of unused lender commitments for the Delayed Draw Term Loan Facility automatically terminated upon completion of the drawdown. Immediately following the acquisition, the Company repaid $500 million under the 364-day senior unsecured revolving credit facility. Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for more information on our Intelerad acquisition.
There were no outstanding amounts under the five-year senior unsecured revolving credit facility or the 364-day senior unsecured revolving credit facility as of June 30, 2026 and December 31, 2025, respectively.

Borrowings Composition
As of
June 30, 2026
December 31, 2025
5.650% senior notes due November 15, 2027
$
1,750 
$
1,750 
4.150% senior notes due December 15, 2028
600 
600 
4.800% senior notes due August 14, 2029
1,000 
1,000 
5.857% senior notes due March 15, 2030
1,250 
1,250 
4.800% senior notes due January 15, 2031
650 
650 
5.905% senior notes due November 22, 2032
1,750 
1,750 
5.500% senior notes due June 15, 2035
850 
850 
4.950% senior notes due December 15, 2035
650 
650 
6.377% senior notes due November 22, 2052
1,000 
1,000 
Floating rate Delayed Draw Term Loan Facility due March 16, 2029
650 
— 
Floating rate Term Loan Facility due January 2, 2026(1)
— 
500 
Other
13 
24 
Total principal debt issued
10,163 
10,024 
Less: Unamortized debt issuance costs and discounts
44 
49 
Add: Cumulative basis adjustment for fair value hedges
(25)
27 
Total borrowings
10,093 
10,003 
Less: Short-term borrowings(2)
2 
508 
Long-term borrowings
$
10,091 
$
9,495 
(1) In the first quarter of 2026, the Company repaid $500 million of the remaining Term Loan Facility upon maturity.
(2) Short-term borrowings as of June 30, 2026 and December 31, 2025 includes $2 million and $502 million, respectively, related to the current portion of our long-term borrowings, net of unamortized debt issuance costs and discounts.
See Note 12, “Financial Instruments and Fair Value Measurements” for further information about borrowings and associated derivatives contracts.

LETTERS OF CREDIT, GUARANTEES, AND OTHER COMMITMENTS.

As of June 30, 2026 and December 31, 2025, the Company had bank guarantees and surety bonds of approximately $1,189 million and $1,149 million, respectively, related to certain commercial contracts. Additionally, we have issued approximately $20 million and $22 million of guarantees as of June 30, 2026 and December 31, 2025, respectively, primarily related to residual value and credit guarantees on equipment sold to third-party finance companies. Our Condensed Consolidated Statements of Financial Position reflect a liability of $3 million as of both June 30, 2026 and December 31, 2025 related to these guarantees. For credit-related guarantees, we estimate our expected credit losses related to off-balance sheet credit exposure consistent with the method used to estimate the allowance for credit losses on financial assets held at amortized cost.