v3.26.3
Credit Arrangements (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Summary of Credit Facilities
The following is a summary of the Company’s revolving credit facilities as of September 30, 2026:
Facility
Interest Rates
$2,000 million (revolving credit facility)
U.S. Dollar Term SOFR plus a margin of 1.25% as of September 30, 2026
$110 million (receivables financing facility)
U.S. Dollar Term SOFR plus a margin of 1.00% plus a 10 basis credit spread adjustment as of September 30, 2026
Summary of Debt
The following table summarizes the Company’s debt at the dates indicated:
(dollars in millions)September 30, 2026December 31, 2025
Revolving Credit Facility due 2030:
U.S. Dollar denominated borrowings—U.S. Dollar Term SOFR at average floating rates of —%
$— $800 
Senior Secured Credit Facilities:
Term A Loan due 2030—Euribor at floating rates of 3.84%
269 290 
Term A Loan due 2030—U.S. Dollar Term SOFR at floating rates of 5.32%
2,081 2,162 
Term B Loan due 2031—U.S. Dollar Term SOFR at floating rates of 5.82%
1,950 1,965 
5.700% Senior Secured Notes due 2028—U.S. Dollar denominated
750 750 
6.250% Senior Secured Notes due 2029—U.S. Dollar denominated
1,250 1,250 
5.0% Senior Notes due 2027—U.S. Dollar denominated
1,100 1,100 
5.0% Senior Notes due 2026—U.S. Dollar denominated
— 1,050 
6.500% Senior Notes due 2030—U.S. Dollar denominated
500 500 
6.250% Senior Notes due 2032—U.S. Dollar denominated
2,000 2,000 
6.375% Senior Notes due 2034 – U.S. Dollar denominated
2,000 — 
2.25% Senior Notes due 2028—Euro denominated
817 845 
2.875% Senior Notes due 2028—Euro denominated
807 835 
1.750% Senior Notes due 2026—Euro denominated
— 646 
2.250% Senior Notes due 2029—Euro denominated
1,021 1,057 
4.625% Senior Notes due 2033—Euro denominated
1,077 — 
Receivables financing facility due 2027—U.S. Dollar Term SOFR at floating rates of 4.90%:
Revolving Loan Commitment110 110 
Term Loan440 440 
Principal amount of debt16,172 15,800 
Less: unamortized discount and debt issuance costs(105)(76)
Less: current portion(1,244)(1,840)
Long-term debt$14,823 $13,884 
Schedule of Contractual Maturities of Long-term Debt
Contractual maturities of long-term debt as of September 30, 2026 are as follows:
(in millions)
Remainder of 2026$36 
20271,794 
20282,517 
20292,414 
20302,468 
Thereafter6,943 
$16,172