| Schedule of Long-term Debt Instruments |
The carrying value of our outstanding debt obligations as of June 30, 2025 and December 31, 2024 consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount |
|
|
|
Carrying Value |
|
|
|
|
|
|
|
|
|
|
Maturity |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fixed-rate senior notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.900% senior notes |
$ |
— |
|
|
2025 |
|
$ |
— |
|
|
$ |
1,000 |
|
|
|
|
|
|
|
|
|
2.400% senior notes |
500 |
|
|
2026 |
|
500 |
|
|
499 |
|
|
|
|
|
|
|
|
|
3.050% senior notes |
1,000 |
|
|
2027 |
|
997 |
|
|
997 |
|
|
|
|
|
|
|
|
|
3.400% senior notes |
750 |
|
|
2029 |
|
748 |
|
|
748 |
|
|
|
|
|
|
|
|
|
2.500% senior notes |
400 |
|
|
2029 |
|
398 |
|
|
398 |
|
|
|
|
|
|
|
|
|
4.450% senior notes |
750 |
|
|
2030 |
|
746 |
|
|
746 |
|
|
|
|
|
|
|
|
|
4.650% senior notes |
500 |
|
|
2030 |
|
498 |
|
|
— |
|
|
|
|
|
|
|
|
|
4.875% senior notes |
900 |
|
|
2033 |
|
895 |
|
|
895 |
|
|
|
|
|
|
|
|
|
5.150% senior notes |
900 |
|
|
2034 |
|
894 |
|
|
894 |
|
|
|
|
|
|
|
|
|
5.250% senior notes |
1,250 |
|
|
2035 |
|
1,240 |
|
|
— |
|
|
|
|
|
|
|
|
|
6.200% senior notes |
1,500 |
|
|
2038 |
|
1,486 |
|
|
1,486 |
|
|
|
|
|
|
|
|
|
5.200% senior notes |
500 |
|
|
2040 |
|
494 |
|
|
495 |
|
|
|
|
|
|
|
|
|
4.875% senior notes |
500 |
|
|
2040 |
|
492 |
|
|
492 |
|
|
|
|
|
|
|
|
|
3.625% senior notes |
375 |
|
|
2042 |
|
369 |
|
|
369 |
|
|
|
|
|
|
|
|
|
3.400% senior notes |
500 |
|
|
2046 |
|
492 |
|
|
492 |
|
|
|
|
|
|
|
|
|
3.750% senior notes |
1,150 |
|
|
2047 |
|
1,138 |
|
|
1,138 |
|
|
|
|
|
|
|
|
|
4.250% senior notes |
750 |
|
|
2049 |
|
743 |
|
|
743 |
|
|
|
|
|
|
|
|
|
3.400% senior notes |
700 |
|
|
2049 |
|
690 |
|
|
689 |
|
|
|
|
|
|
|
|
|
5.300% senior notes |
1,250 |
|
|
2050 |
|
1,232 |
|
|
1,232 |
|
|
|
|
|
|
|
|
|
5.050% senior notes |
1,100 |
|
|
2053 |
|
1,083 |
|
|
1,083 |
|
|
|
|
|
|
|
|
|
5.500% senior notes |
1,100 |
|
|
2054 |
|
1,087 |
|
|
1,087 |
|
|
|
|
|
|
|
|
|
5.950% senior notes |
1,250 |
|
|
2055 |
|
1,232 |
|
|
— |
|
|
|
|
|
|
|
|
|
5.600% senior notes |
600 |
|
|
2064 |
|
590 |
|
|
590 |
|
|
|
|
|
|
|
|
|
6.050% senior notes |
1,000 |
|
|
2065 |
|
985 |
|
|
— |
|
|
|
|
|
|
|
|
|
| Floating-rate senior notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Floating-rate senior notes |
1,944 |
|
|
2049-2075 |
|
1,921 |
|
|
1,755 |
|
|
|
|
|
|
|
|
|
| Debentures: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.620% debentures |
276 |
|
|
2030 |
|
279 |
|
|
279 |
|
|
|
|
|
|
|
|
|
| Pound Sterling notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% notes |
91 |
|
|
2031 |
|
91 |
|
|
83 |
|
|
|
|
|
|
|
|
|
5.125% notes |
624 |
|
|
2050 |
|
594 |
|
|
544 |
|
|
|
|
|
|
|
|
|
| Euro senior notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.625% senior notes |
820 |
|
|
2025 |
|
820 |
|
|
731 |
|
|
|
|
|
|
|
|
|
1.000% senior notes |
586 |
|
|
2028 |
|
584 |
|
|
521 |
|
|
|
|
|
|
|
|
|
1.500% senior notes |
586 |
|
|
2032 |
|
584 |
|
|
521 |
|
|
|
|
|
|
|
|
|
Finance lease obligations (see note 10) |
516 |
|
|
2025-2118 |
|
516 |
|
|
455 |
|
|
|
|
|
|
|
|
|
| Facility notes and bonds |
320 |
|
|
2029-2045 |
|
320 |
|
|
320 |
|
|
|
|
|
|
|
|
|
| Other debt |
2 |
|
|
2025-2026 |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
| Total debt |
$ |
24,990 |
|
|
|
|
$ |
24,740 |
|
|
$ |
21,284 |
|
|
|
|
|
|
|
|
|
| Less: current maturities |
|
|
|
|
(920) |
|
|
(1,838) |
|
|
|
|
|
|
|
|
|
| Long-term debt |
|
|
|
|
$ |
23,820 |
|
|
$ |
19,446 |
|
|
|
|
|
|
|
|
|
|