| Schedule of Long-term Debt Instruments |
The carrying value of our outstanding debt obligations as of March 31, 2025 and December 31, 2024 consisted of the following (in millions):
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Principal
Amount |
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Carrying Value |
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Maturity |
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2025 |
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2024 |
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| Commercial paper |
$ |
— |
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$ |
— |
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$ |
— |
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| Fixed-rate senior notes: |
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3.900% senior notes |
1,000 |
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2025 |
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1,000 |
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1,000 |
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2.400% senior notes |
500 |
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2026 |
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499 |
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499 |
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3.050% senior notes |
1,000 |
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2027 |
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997 |
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997 |
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3.400% senior notes |
750 |
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2029 |
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748 |
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748 |
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2.500% senior notes |
400 |
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2029 |
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398 |
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398 |
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4.450% senior notes |
750 |
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2030 |
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746 |
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746 |
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4.875% senior notes |
900 |
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2033 |
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895 |
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895 |
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5.150% senior notes |
900 |
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2034 |
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894 |
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894 |
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6.200% senior notes |
1,500 |
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2038 |
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1,486 |
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1,486 |
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5.200% senior notes |
500 |
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2040 |
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494 |
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495 |
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4.875% senior notes |
500 |
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2040 |
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492 |
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492 |
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3.625% senior notes |
375 |
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2042 |
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369 |
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369 |
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3.400% senior notes |
500 |
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2046 |
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492 |
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492 |
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3.750% senior notes |
1,150 |
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2047 |
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1,138 |
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1,138 |
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4.250% senior notes |
750 |
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2049 |
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743 |
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743 |
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3.400% senior notes |
700 |
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2049 |
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689 |
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689 |
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5.300% senior notes |
1,250 |
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2050 |
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1,232 |
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1,232 |
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5.050% senior notes |
1,100 |
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2053 |
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1,083 |
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1,083 |
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5.500% senior notes |
1,100 |
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2054 |
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1,087 |
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1,087 |
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5.600% senior notes |
600 |
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2064 |
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590 |
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590 |
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| Floating-rate senior notes: |
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| Floating-rate senior notes |
1,773 |
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2049-2074 |
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1,753 |
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1,755 |
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| Debentures: |
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7.620% debentures |
276 |
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2030 |
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279 |
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279 |
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| Pound Sterling notes: |
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5.500% notes |
86 |
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2031 |
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86 |
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83 |
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5.125% notes |
588 |
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2050 |
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560 |
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544 |
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| Euro senior notes: |
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1.625% senior notes |
757 |
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2025 |
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757 |
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731 |
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1.000% senior notes |
541 |
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2028 |
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540 |
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521 |
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1.500% senior notes |
541 |
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2032 |
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540 |
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521 |
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Finance lease obligations (see note 10) |
459 |
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2025-2118 |
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459 |
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455 |
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| Facility notes and bonds |
320 |
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2029-2045 |
|
320 |
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320 |
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| Other debt |
3 |
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2025-2028 |
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3 |
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2 |
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| Total debt |
$ |
21,569 |
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21,369 |
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21,284 |
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| Less: current maturities |
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(1,858) |
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(1,838) |
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| Long-term debt |
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$ |
19,511 |
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$ |
19,446 |
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