The following table summarizes the major components of debt at principal amounts as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of September 30, 2026:


	September 30, 2026		December 31, 2025
Commercial paper program (weighted average interest rate of 4.01% as of September 30, 2026 and 4.05% as of December 31, 2025)	$	1,250	$	1,090
Senior notes, maturing through 2054, interest rates ranging from 1.15% to 7.75% (weighted average interest rate of 4.23% as of September 30, 2026 and 4.28% as of December 31, 2025)	17,218		17,498
Canadian senior notes, C$500 million, redeemed July 2026, interest rate of 2.60%	—		364
Canadian senior notes, C$700 million, maturing July 2033, interest rate of 3.944%	492		—
Tax-exempt bonds, maturing through 2055, fixed and variable interest rates ranging from 0.95% to 4.60% (weighted average interest rate of 3.25% as of September 30, 2026 and 3.41% as of December 31, 2025)	2,927		2,827
Financing leases and other, maturing through 2075 (weighted average interest rate of 4.91% as of September 30, 2026 and 4.83% as of December 31, 2025)	1,630		1,284
Debt issuance costs, discounts and other	(147)		(156)
	23,370		22,907
Current portion of long-term debt	1,524		711
Long-term debt, less current portion	$	21,846	$	22,196