| Schedule of Long Term Debt |
We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ 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 | |
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