v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Effective interest
rate as of June 30,
As of
June 30,
As of
December 31,
(In millions)
2026
2026
2025
3.50% Unsecured Notes due 2026
3.56%
$326
$326
4.60% Unsecured Notes due 2027
4.71%
700
700
4.70% Unsecured Notes due 2028
4.81%
700
700
4.95% Unsecured Notes due 2030
5.07%
1,000
1,000
7.65% Private Placement due 2031
7.95%
50
50
4.20% Unsecured Notes due 2033
4.29%
50
50
5.40% Unsecured Notes due 2035
5.55%
1,000
1,000
7.13% Unsecured Notes due 2036
7.38%
445
445
6.88% Unsecured Notes due 2039
7.12%
191
191
6.50% Unsecured Notes due 2043
6.72%
239
239
4.75% Unsecured Notes due 2046
4.86%
554
554
Other
11
12
Total principal
5,266
5,267
Unamortized premiums and debt issuance costs
3
2
Total long-term debt
5,269
5,269
Less: current portion of long-term debt
(1,034)
(333)
Long-term debt
$4,235
$4,936
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The fair value of the Company’s long-term debt was as follows:
(In millions)
As of June 30, 2026
Carrying amount
$4,235
Fair value
$4,272