FINANCING ARRANGEMENTS |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FINANCING ARRANGEMENTS | FINANCING ARRANGEMENTS Short-term debt obligations include:
Under its commercial paper program, BMS may issue a maximum of $5.0 billion of unsecured notes with maturities of not more than 365 days from the date of issuance. Long-term debt and the current portion of Long-term debt include:
The fair value of Long-term debt, including the current portion, was $39.2 billion as of June 30, 2026 and $41.5 billion as of December 31, 2025 valued using Level 2 inputs, which are based upon the quoted market prices for the same or similar debt instruments. The fair value of Short-term debt obligations approximates the carrying value due to the short maturities of the debt instruments. During the six months ended June 30, 2026, $1.7 billion of debt matured and was repaid, including the $1.2 billion 3.20% Notes and $500 million of floating rate notes. During the six months ended June 30, 2025, the €575 million 1.000% Euro Notes matured and were repaid. Interest payments were $789 million and $1.0 billion for the six months ended June 30, 2026 and 2025, respectively, net of amounts related to interest rate swap contracts. Guarantees See “Note 10. Financing Arrangements” in our 2025 Form 10-K for information on BMS’s guarantee of debt. Credit Facilities As of June 30, 2026 and December 31, 2025, BMS had a five-year $5.0 billion revolving credit facility, which is extendable annually by one year with the consent of the lenders. In January 2026, the Company extended the termination date of the credit facility from January 2030 to January 2031. The facility provides for customary terms and conditions with no financial covenants and is used to provide backup liquidity for the Company's commercial paper borrowings. No borrowings were outstanding under the revolving credit facility as of June 30, 2026 and December 31, 2025.
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