
($ in millions)	Interest Rate		Effective Interest Rate		Face Amount		Balance as of June 30, 2026		Balance as of December 31, 2025
Senior Notes (in order of maturity):
Series R Notes, matured June 15, 2026	3.1	%	3.3	%	$	750	$	—	$	749
Series LL Notes, maturing September 15, 2026	5.5	%	5.9	%	450		450		449
Series TT Notes, maturing July 15, 2027	4.2	%	4.5	%	400		399		398
Series JJ Notes, maturing October 15, 2027	5.0	%	5.4	%	1,000		995		994
Series X Notes, maturing April 15, 2028	4.0	%	4.2	%	450		449		448
Series MM Notes, maturing October 15, 2028	5.6	%	5.9	%	700		695		694
Series AA Notes, maturing December 1, 2028	4.7	%	4.8	%	300		299		299
Series KK Notes, maturing April 15, 2029	4.9	%	5.3	%	800		792		790
Series NN Notes, maturing May 15, 2029	4.9	%	5.3	%	500		494		493
Series PP Notes, maturing March 15, 2030	4.8	%	5.0	%	500		496		496
Series FF Notes, maturing June 15, 2030	4.6	%	4.8	%	1,000		993		992
Series HH Notes, maturing April 15, 2031	2.9	%	3.0	%	1,100		1,094		1,094
Series UU Notes, maturing October 15, 2031	4.5	%	4.9	%	500		492		491
Series RR Notes, maturing April 15, 2032	5.1	%	5.4	%	500		494		493
Series GG Notes, maturing October 15, 2032	3.5	%	3.7	%	1,000		991		990
Series WW Notes, maturing May 1, 2033	4.5	%	4.8	%	600		590		—
Series II Notes, maturing October 15, 2033	2.8	%	2.8	%	700		696		695
Series OO Notes, maturing May 15, 2034	5.3	%	5.6	%	1,000		982		982
Series W Notes, maturing October 1, 2034	4.5	%	4.1	%	278		286		287
Series QQ Notes, maturing March 15, 2035	5.4	%	5.5	%	1,000		987		987
Series VV Notes, maturing October 15, 2035	5.3	%	5.5	%	600		580		588
Series SS Notes, maturing April 15, 2037	5.5	%	5.7	%	1,500		1,466		1,475
Series XX Notes, maturing May 1, 2038	5.1	%	5.3	%	850		820		—
Commercial paper							1,242		1,177
Credit Facility							—		—
Finance lease obligations							110		120
Other							23		23
							$	16,915	$	16,204
Less current portion							(460)		(1,209)
							$	16,455	$	14,995

We are party to a $4.5 billion multicurrency revolving credit agreement (as amended, the “Credit Facility”). Available borrowings under the Credit Facility support our commercial paper program and general corporate needs. U.S. dollar borrowings under the Credit Facility bear interest at SOFR (the Secured Overnight Financing Rate) plus a spread based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating. We classify outstanding borrowings under the Credit Facility and outstanding commercial paper borrowings (which generally have short-term maturities of 45 days or less) as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on December 14, 2027.

In February 2026, we issued $600 million aggregate principal amount of 4.500 percent Series WW Notes due May 1, 2033 (the “Series WW Notes”) and $850 million aggregate principal amount of 5.100 percent Series XX Notes due May 1, 2038 (the “Series XX Notes”). We will pay interest on the Series WW Notes and Series XX Notes in May and November of each year, commencing in November 2026. Net proceeds from the offering of the Series WW Notes and Series XX Notes were approximately $1.425 billion, after deducting the underwriting discount and expenses, and were made available for general corporate purposes, including working capital, capital expenditures, acquisitions, stock repurchases, or repayment of outstanding indebtedness.

We determine the fair value of our Senior Notes using quoted market prices, which are directly observable Level 1 inputs. As of June 30, 2026 and December 31, 2025, the fair value of our noncurrent Senior Notes was $15,039 million (carrying amount of $15,090 million) and $13,836 million (carrying amount of $13,686 million), respectively. The carrying amount of our commercial paper borrowings approximates fair value due to their short maturity and because they bear interest at a market rate. See the “Fair Value Measurements” caption of Note 2 and Note 12 of our 2025 Form 10-K for more information on the input levels we use in determining fair value.