Debt (Tables)

6 Months Ended

Jun. 30, 2026

The following table sets forth our outstanding debt:


	June 30, 2026		December 31, 2025
	(In millions)
5.0% senior notes due 2026	$	—	$	750
0% convertible senior notes due 2026	—		942
4.625% senior notes due 2027	749		748
3.8% senior notes due 2028	999		998
3.25% senior notes due 2030	1,243		1,242
2.95% senior notes due 2031	495		495
5.4% senior notes due 2035	987		986
5.5% senior notes due 2036	986		—
Total debt(1)	5,459		6,161
Current maturities of long-term debt	—		(1,692)
Long-term debt, excluding current maturities	$	5,459	$	4,469

_______________

(1)Net of applicable discounts and debt issuance costs.

Schedule of Convertible Debt

We recognized the following net expense related to the conversion option on the Convertible Notes in our consolidated statement of operations:


(In millions)	Classification in consolidated statements of operations	Six months ended June 30, 2026
Change in fair value of the embedded derivative	Other, net	$	48
Amortization of debt discount	Interest expense	(58)
Net expense		$	(10)

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details