v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt Obligations
As of June 30, 2026, we had $132.1 billion of unsecured senior notes outstanding (the “Notes”), including foreign currency-denominated Notes issued for general corporate purposes, the carrying values of which are subject to foreign exchange rate fluctuations. Our total long-term debt obligations are as follows (in millions):
Maturities (1)Stated Interest RatesEffective Interest RatesDecember 31, 2025June 30, 2026
2014 Notes issuance of $6.0 billion
2034 - 2044
4.80% - 4.95%
4.93% - 5.12%
2,750 2,750 
2017 Notes issuance of $17.0 billion
2027 - 2057
3.15% - 4.25%
3.25% - 4.33%
12,000 12,000 
2020 Notes issuance of $10.0 billion
2027 - 2060
1.20% - 2.70%
1.26% - 2.77%
7,750 7,750 
2021 Notes issuance of $18.5 billion
2028 - 2061
1.65% - 3.25%
1.70% - 3.31%
15,000 12,250 
April 2022 Notes issuance of $12.8 billion
2027 - 2062
3.30% - 4.10%
3.40% - 4.15%
9,750 9,750 
December 2022 Notes issuance of $8.3 billion
2027 - 2032
4.55% - 4.70%
4.61% - 4.74%
5,750 5,750 
2025 Notes issuance of $15.0 billion
2028 - 2065
3.90% - 5.55%
3.99% - 5.62%
15,000 15,000 
March 2026 Notes issuance of $37.0 billion (2)
2028 - 2076
3.85% - 6.05%
3.96% - 6.12%
— 37,000 
March 2026 Euro-denominated Notes issuance of €14.5 billion (3)
2028 - 2064
2.50% - 4.85%
2.59% - 4.88%
— 16,550 
May 2026 Swiss franc-denominated Notes issuance of CHF2.8 billion
2029 - 2051
0.84% - 2.08%
0.90% - 2.10%
— 3,487 
June 2026 Canadian Dollar-denominated Notes issuance of C$14.0 billion
2029 - 2056
3.40% - 5.00%
3.46% - 5.05%
— 9,853 
Other long-term debt836 855 
Total face value of long-term debt68,836 132,995 
Unamortized discount and issuance costs, net(440)(771)
Less: current portion of long-term debt(2,748)(3,330)
Long-term debt$65,648 $128,894 
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(1) The weighted-average remaining lives of the 2014, 2017, 2020, 2021, April 2022, December 2022, 2025, March 2026, March 2026 Euro-denominated, May 2026 Swiss franc-denominated, and June 2026 Canadian Dollar-denominated Notes were 13.9, 14.9, 17.6, 15.6, 13.3, 3.9, 15.1, 16.4, 10.1, 8.9, and 14.8 years as of June 30, 2026. The combined weighted-average remaining life of the Notes was 14.2 years as of June 30, 2026.
(2) Includes $2.8 billion of floating rate Notes due in 2028 and 2029. Interest is calculated using the compounded Secured Overnight Financing Rate (“SOFR”) plus 0.44% and 0.59%, respectively, and payable quarterly in arrears.
(3) Includes €1.8 billion of floating rate Notes due in 2028. Interest is calculated using Euro Interbank Offered Rate (“EURIBOR”) plus 0.35%, payable quarterly in arrears.