Debt (Tables)

6 Months Ended

Jun. 30, 2026


	June 30, 2026				December 31, 2025
	Principal		Carrying		Principal		Carrying
	outstanding		amount		outstanding		amount
Short-term debt	$	44	$	44	$	83	$	83

Long-term debt
Senior secured borrowings:
Revolving credit facilities	105		105		—		—
Term loan facilities
U.S. dollar due 2031	1,175		1,170		1,175		1,173

Euro due 20311	571		569		587		587

Senior notes and debentures:
U.S. dollar at 4.25% due 2026	400		400		400		400
€500 at 5.00% due 2028	571		567		587		583
€500 at 4.75% due 2029	571		566		587		582
€600 at 4.50% due 2030	685		679		705		697
U.S. dollar at 5.25% due 2030	500		497		500		496
€500 at 3.750% due 2031	571		563		587		578
U.S. dollar at 5.875% due 2033	700		692		700		691
U.S. dollar at 7.50% due 2096	40		40		40		40
Other indebtedness in various currencies	170		170		54		54
Total long-term debt	6,059		6,018		5,922		5,881
Less current maturities	(519)		(519)		(480)		(480)
Total long-term debt, less current maturities	$	5,540	$	5,499	$	5,442	$	5,401

(1) €500 at June 30, 2026 and December 31, 2025

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details