| Schedule of Debt |
| | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Maturity | | Rate (a) | | August 31,
2026 | | November 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Unsecured Subsidiary Guaranteed | | | | | | | | | Notes | | | | | | | | | Convertible Notes | Dec 2025 (b) | | 5.75% | | $ | — | | | $ | 1,131 | | | Notes (c) | Jun 2027 | | 7.88% | | 192 | | | 192 | | | Notes (c) | Aug 2028 | | 4.00% | | 2,406 | | | 2,406 | | | Notes (d) | Aug 2029 | | 7.00% | | — | | | 500 | | | Export Credit Facilities | | | | | | | | | Floating rate | Dec 2031 | | SOFR + 1.20% (e) | | 377 | | | 446 | | | Fixed rate | Aug 2027 - Dec 2032 | | 2.42 - 3.38% | | 1,710 | | | 1,983 | | | EUR floating rate | Oct 2026 - Nov 2034 | | EURIBOR + 0.55 - 0.80% | | 1,631 | | | 1,839 | | | EUR fixed rate | Feb 2031 - Sep 2037 | | 1.05 - 4.00% | | 4,637 | | | 5,123 | | | Total Unsecured Subsidiary Guaranteed | | | | 10,953 | | | 13,619 | | | Unsecured (No Subsidiary Guarantee) | | | | | | | | | Notes | | | | | | | | | Notes | Jan 2028 | | 6.65% | | 200 | | | 200 | | | Notes (f) | May 2029 | | 5.13% | | 1,250 | | | 1,250 | | | EUR Notes | Oct 2029 | | 1.00% | | 695 | | | 696 | | | EUR Notes (f) | Jan 2030 | | 5.75% | | 579 | | | 580 | | | Notes (f) | Mar 2030 | | 5.75% | | 1,000 | | | 1,000 | | | Notes (f) | Jun 2031 | | 5.88% | | 1,000 | | | 1,000 | | | EUR Notes (f) | Jul 2031 | | 4.13% | | 1,158 | | | 1,160 | | | Notes (f) | Aug 2032 | | 5.75% | | 3,000 | | | 3,000 | | | Notes (f) | Feb 2033 | | 6.13% | | 2,000 | | | 2,000 | | | Loans | | | | | | | | | Floating rate (f) | Aug 2027 - Nov 2027 | | SOFR + 1.13 - 1.38% | | 900 | | | 900 | | | EUR floating rate | Apr 2029 | | EURIBOR + 1.95% | | 348 | | | 348 | | | Export Credit Facilities | | | | | | | | | EUR floating rate (f) | Dec 2033 | | EURIBOR + 0.55% | | 548 | | | 621 | | | EUR fixed rate (f) | Jan 2034 - Apr 2036 | | 1.25 - 1.73% | | 928 | | | 1,010 | | | Total Unsecured (No Subsidiary Guarantee) | | | | 13,606 | | | 13,764 | | | Total Debt | | | | | 24,559 | | | 27,383 | | | Less: unamortized debt issuance costs and discounts | | | | | (647) | | | (744) | | | Total Debt, net of unamortized debt issuance costs and discounts | | | | | 23,912 | | | 26,640 | | | | | | | | | | | Less: Current portion of long-term debt | | | | | (2,036) | | | (2,603) | | | Long-Term Debt | | | | | $ | 21,876 | | | $ | 24,037 | |
(a)The reference rates, together with any applicable credit adjustment spread, for all of our floating rate debt have a 0.00% floor. (b)See “Convertible Notes” below. (c)Our 7.88% notes due 2027 and 4.00% notes due 2028 that were secured on a first-priority basis by certain collateral as of November 30, 2025, were no longer secured as of August 31, 2026. (d)Our 7.00% notes due 2029 that were secured on a first-priority basis by certain collateral as of November 30, 2025, became unsecured in June 2026. We subsequently redeemed the outstanding principal amount of the notes and recognized $23 million of debt extinguishment costs as a result of the redemption. (e)Includes applicable credit adjustment spread. (f)Certain of our notes, loans and export credit facilities that were subject to subsidiary guarantees as of November 30, 2025, were no longer subject to such guarantees as of August 31, 2026.
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| Schedule of Annual Maturities of Debt |
As of August 31, 2026, the scheduled maturities of our debt are as follows:
| | | | | | | | | | (in millions) | | | | Year | | Principal Payments | Remainder of 2026 | | $ | 301 | | 2027 | | 2,517 | | 2028 | | 3,961 | | 2029 | | 3,631 | | 2030 | | 2,885 | | | Thereafter | | 11,264 | | | Total | | $ | 24,559 | |
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