v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following (in millions):

June 30, 2026
Weighted
Average
InterestInterestJune 30,December 31,
RatesRate (1)Maturities20262025
Fixed Rate Notes
Senior USD Notes
1.7% - 5.6%
4.5%2027 - 2052$11,145 $6,094 
Senior Euro Notes
1.0% - 3.5%
3.1%2027 - 20394,420 3,963 
Senior GBP Notes
2.3% - 3.4%
6.6%2029 - 2031225 229 
Senior USD Floating Rate Notes (2)2029500 — 
Senior Euro Floating Rate Notes (3)2028570 — 
Revolving Credit Facility (4)4.9%2029167 215 
Incremental Revolving Credit Facility (5)2027— — 
Financing arrangements for certain hardware and software2026 - 2030213 116 
Other (6)(292)(264)
Total long-term debt, including current portion16,948 10,353 
Current portion of long-term debt(1,516)(1,284)
Long-term debt, excluding current portion$15,432 $9,069 
    
(1)The weighted average interest rate includes the impact of the fair value basis adjustments due to interest rate swaps, the impact of cross-currency interest rate swaps designated as fair value hedges, and the impact of interest rate swaps designated as cash flow hedges, and excludes the impact of cross-currency interest rate swaps designated as net investment hedges (see Note 8). These impacts, in certain cases, result in an effective weighted average interest rate being outside the stated interest rate range on the fixed rate notes.
(2)Interest on the Senior USD Floating Rate Notes is payable quarterly at Compound Secured Overnight Financing Rate ("SOFR") plus 1.21%.
(3)Interest on the Senior EUR Floating Rate Notes is payable quarterly at Three-month Euro Interbank Offered Rate ("EURIBOR") plus 0.85%.
(4)Interest on the Revolving Credit Facility is generally payable at SOFR plus an applicable margin of up to 1.625% and an unused commitment fee of up to 0.200%, each based upon the Company's corporate credit ratings. The weighted average interest rate on the Revolving Credit Facility excludes fees.
(5)Interest on the Incremental Revolving Credit Facility is generally payable at SOFR plus an applicable margin of up to 1.625% and an unused commitment fee of up to 0.200%, each based upon the Company's corporate credit ratings.
(6)Other includes the amount of fair value basis adjustments due to interest rate swaps (see further discussion below and in Note 8), unamortized debt issuance costs and unamortized non-cash bond discounts.
Schedule of Short-Term Debt
Short-term borrowings as of June 30, 2026, and December 31, 2025, consisted of the following (in millions):

June 30, 2026
Weighted
Average
InterestJune 30,December 31,
RateMaturities20262025
Euro-commercial paper notes ("ECP Notes")2.4 %
Up to 183 days
$114 $117 
U.S. commercial paper notes ("USCP Notes")4.0 %
Up to 397 days
4,112 2,612 
Total Short-term borrowings$4,226 $2,729 
Schedule of Principal Maturities of Long-Term Debt The following table summarizes the amount of our long-term debt, including financing arrangements for certain hardware and software, as of June 30, 2026, based on maturity date.
Total
2026$63 
20271,710 
20284,300 
20293,534 
20301,731 
Thereafter5,902 
Total principal payments17,240 
Other debt per the long-term debt table(292)
Total long-term debt, including current portion$16,948