Our debt obligations consisted of the following: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Credit Facility | $ | — | | | $ | — | | | | | | 6.000% senior notes due 2026 (1) | — | | | 500 | | 3.875% CAD senior notes due 2026 (1) | — | | | 400 | | Parkland 3.875% CAD senior notes due 2026 (1) | — | | | 37 | | | | | | 6.000% senior notes due 2027 (1) | — | | | 600 | | 5.625% senior notes due 2027 (2) | 550 | | | 550 | | 5.875% senior notes due 2027 | 499 | | | 499 | | Parkland 5.875% senior notes due 2027 (1) | — | | | 1 | | 5.875% senior notes due 2028 | 400 | | | 400 | | 7.000% senior notes due 2028 | 500 | | | 500 | | 6.000% CAD senior notes due 2028 | 268 | | | 277 | | Parkland 6.000% CAD senior notes due 2028 (1) | — | | | 14 | | 4.500% senior notes due 2029 | 800 | | | 800 | | 7.000% senior notes due 2029 | 750 | | | 750 | | 4.375% CAD senior notes due 2029 | 384 | | | 397 | | Parkland 4.375% CAD senior notes due 2029 (1) | — | | | 40 | | 4.500% senior notes due 2029 | 790 | | | 790 | | Parkland 4.500% senior notes due 2029 (1) | — | | | 10 | | 4.500% senior notes due 2030 | 800 | | | 800 | | 6.375% senior notes due 2030 | 600 | | | 600 | | 4.625% senior notes due 2030 | 798 | | | 798 | | Parkland 4.625% senior notes due 2030 (1) | — | | | 2 | | | | | | 5.625% senior notes due 2031 | 1,000 | | | 1,000 | | 5.375% senior notes due 2031 | 600 | | | — | | 7.250% senior notes due 2032 | 750 | | | 750 | | 6.625% senior notes due 2032 | 493 | | | 493 | | Parkland 6.625% senior notes due 2032 (1) | — | | | 7 | | 6.250% senior notes due 2033 | 1,000 | | | 1,000 | | 5.875% senior notes due 2034 | 900 | | | 900 | | 5.625% senior notes due 2034 | 600 | | | — | | | GoZone Bonds | 322 | | | 322 | | | | | | | Lease-related financing obligations and other subsidiary debt | 596 | | | 233 | | | | | | | Net unamortized premiums, discounts and fair value adjustments | — | | | 2 | | | Deferred debt issuance costs | (86) | | | (83) | | | Total debt | 13,314 | | | 13,389 | | | Less: current maturities | 6 | | | 17 | | | Total long-term debt, net | $ | 13,308 | | | $ | 13,372 | |
(1) These senior notes were redeemed during the six months ended June 30, 2026. See additional information under “Recent Transactions.” (2) As of June 30, 2026, $550 million aggregate principal amount of senior notes due before June 30, 2027 were classified as long-term as management has the intent and ability to refinance the borrowings on a long-term basis.
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