v3.26.3
Debt and lines of credit
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Debt and lines of credit Debt and lines of credit
Short-term borrowings
We maintain a line of credit to provide additional liquidity through bank loans and, if necessary, to support commercial paper borrowings. As of September 30, 2026, the aforementioned line of credit was a variable-rate, revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $1 billion until March 2027. The interest rate on borrowings under this credit facility, if drawn, is indexed to the applicable Term Secured Overnight Financing Rate (Term SOFR). As of September 30, 2026, our credit facility was undrawn, and we had no commercial paper outstanding.
In June 2026, we entered into a 364-day delayed draw term loan credit facility for borrowings up to $5 billion to support the Silicon Labs acquisition consideration and related transaction expenses. The availability of funding is conditioned on the consummation of the planned acquisition of Silicon Labs. As of September 30, 2026, there were no outstanding borrowings on the delayed draw term loan credit facility.
Long-term debt
In September 2026, we retired $500 million of maturing debt.
Long-term debt outstanding is as follows:
September 30,December 31,
20262025
Notes due 2026 at 1.125%
$— $500 
Notes due 2027 at 4.60%
650 650 
Notes due 2027 at 2.90%
500 500 
Notes due 2028 at 4.60%
700 700 
Notes due 2029 at 4.60%
650 650 
Notes due 2029 at 2.25%
750 750 
Notes due 2030 at 1.75%
750 750 
Notes due 2030 at 4.50%
550 550 
Notes due 2031 at 1.90%
500 500 
Notes due 2032 at 3.65%
400 400 
Notes due 2033 at 4.90%
950 950 
Notes due 2034 at 4.85%
600 600 
Notes due 2035 at 5.10%
650 650 
Notes due 2039 at 3.875%
750 750 
Notes due 2048 at 4.15%
1,500 1,500 
Notes due 2051 at 2.70%
500 500 
Notes due 2052 at 4.10%
300 300 
Notes due 2053 at 5.00%
650 650 
Notes due 2054 at 5.15%
750 750 
Notes due 2063 at 5.05%
1,550 1,550 
Total debt13,650 14,150 
Net unamortized discounts, premiums and issuance costs(95)(102)
Total debt, including net unamortized discounts, premiums and issuance costs13,555 14,048 
Current portion of long-term debt(650)(500)
Long-term debt$12,905 $13,548 
Interest and debt expense was $141 million for the third quarters of both 2026 and 2025, and $423 million and $402 million for the first nine months of 2026 and 2025, respectively. This is inclusive of amortized discounts, premiums and issuance and other related costs. Capitalized interest was $3 million for the third quarters of both 2026 and 2025, and $9 million for the first nine months of both 2026 and 2025.