v3.26.3
Credit Facilities and Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Credit Facilities and Long-Term Debt
Total debt outstanding is summarized as follows:
(in millions)September 30, 2026December 31, 2025
3.250% Senior Notes due 2026 (a)
$500 $500 
1.950% Senior Notes due 2028 (a)
500 500 
2.250% Senior Notes due 2031 (a)
500 500 
5.200% Senior Notes due 2033 (a)
500 — 
5.450% Senior Notes due 2036 (a)
500 — 
4.375% Senior Notes due 2046 (a)
400 400 
Equipment Financing due 2026 to 203220 27 
Other23 27 
Debt issuance costs and unamortized discount (b)(20)(12)
Fair value hedge basis adjustments(28)— 
Total debt$2,895 $1,942 
Less: short-term borrowings and current maturities of long-term debt530 534 
Total long-term debt$2,365 $1,408 
(a)The fair value of our Senior Notes was determined using quoted prices in active markets for identical securities, which are considered Level 1 inputs. The fair value of our Senior Notes due 2026 was $499 million and $497 million as of September 30, 2026 and December 31, 2025, respectively. The fair value of our Senior Notes due 2028 was $480 million and $480 million as of September 30, 2026 and December 31, 2025, respectively. The fair value of our Senior Notes due 2031 was $438 million and $454 million as of September 30, 2026 and December 31, 2025 respectively. The fair value of our Senior Notes due 2033 was $484 million as of September 30, 2026. The fair value of our Senior Notes due 2036 was $483 million as of September 30, 2026. The fair value of our Senior Notes due 2046 was $314 million and $340 million as of September 30, 2026 and December 31, 2025, respectively.
(b)The debt issuance costs and unamortized discount are recognized as a reduction in the carrying value of the Senior Notes in the Condensed Consolidated Balance Sheets and is being amortized to interest expense in our Condensed Consolidated Income Statements over the expected remaining terms of the Senior Notes.
Schedule of Other Assets
Schedule of Maturities of Long-Term Debt
As of September 30, 2026, the future maturities of our debt were as follows:
(in millions)Maturity
From September 30, 2026 through December 31, 2026$523 
202711 
2028508 
20291 
2030— 
Thereafter1,900 
Total Future Maturities$2,943 
Debt issuance costs and unamortized discount (a)(20)
Fair value hedge basis adjustments(28)
Total$2,895 
(a)The debt issuance costs and unamortized discount is recognized as a reduction in the carrying value of the Senior Notes in the Consolidated Balance Sheets and is being amortized to interest expense in our Consolidated Income Statements over the expected remaining terms of the Senior Notes.