| Schedule of Long-term Debt Instruments |
The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | | | | | (in millions) | | | | | | | | | | | | | | | | | | | | | | | | | 1.60%, Euro-denominated senior notes, due 2028 (net of $1 and $1 unamortized issuance costs, respectively) | $ | 568 | | | $ | 586 | | 4.35%, senior notes, due 2029 (net of $0 and $1 unamortized issuance costs, respectively) | — | | | 265 | | 4.650%, senior notes, due 2029 (net of $0 and $3 unamortized issuance costs, respectively) | — | | | 398 | | 3.25%, senior notes, due 2032 (net of $1 and $4 unamortized issuance costs and $1 and $2 discount, respectively) | 259 | | | 711 | | 5.150%, senior notes, due 2034 (net of $1 and $4 unamortized issuance costs and $0 and $1 discount, respectively) | 144 | | | 511 | | 4.25%, Euro-denominated senior notes, due 2036 (net of $6 and $6 unamortized issuance costs and $2 and $2 discount, respectively) | 846 | | | 872 | | 4.40%, senior notes, due 2046 (net of $1 and $3 unamortized issuance costs and $1 and $1 discount, respectively) | 186 | | | 296 | | 5.40%, senior notes, due 2049 (net of $2 and $3 unamortized issuance costs and $1 and $1 discount, respectively) | 224 | | | 346 | | 3.10%, senior notes, due 2051 (net of $14 and $15 unamortized issuance costs and $28 and $28 discount, respectively) | 1,458 | | | 1,457 | | 4.15%, senior notes, due 2052 (net of $9 and $10 unamortized issuance costs and $1 and $2 discount, respectively) | 910 | | | 988 | | | | | | 5.750%, senior notes, due 2054 (net of $3 and $6 unamortized issuance costs and $1 and $3 discount, respectively) | 242 | | | 541 | | 6.875%, fixed-to-fixed reset rate junior subordinated notes, due 2054 (net of $6 and $6 unamortized issuance costs, respectively) | 494 | | | 494 | | | | | | | Finance leases and other | 23 | | | 25 | | | | | | | | | | | | | | | | | | | Total debt | 5,354 | | | 7,490 | | | Less: current portion | (23) | | | (23) | | | Long-term debt | $ | 5,331 | | | $ | 7,467 | |
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