| Schedule of Long-term Debt Instruments |
The carrying value of our outstanding debt obligations as of March 31, 2026 and December 31, 2025 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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2026 |
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2025 |
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| Fixed-rate senior notes: |
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2.400% senior notes |
$ |
500 |
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2026 |
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$ |
500 |
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$ |
500 |
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3.050% senior notes |
1,000 |
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2027 |
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998 |
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998 |
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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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399 |
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399 |
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4.450% senior notes |
750 |
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2030 |
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747 |
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747 |
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4.650% senior notes |
500 |
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2030 |
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498 |
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498 |
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4.875% senior notes |
900 |
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2033 |
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896 |
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896 |
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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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5.250% senior notes |
1,250 |
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2035 |
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1,240 |
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1,240 |
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6.200% senior notes |
1,500 |
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2038 |
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1,487 |
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1,487 |
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5.200% senior notes |
500 |
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2040 |
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495 |
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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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493 |
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493 |
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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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744 |
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744 |
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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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1,082 |
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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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5.950% senior notes |
1,250 |
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2055 |
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1,232 |
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1,232 |
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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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6.050% senior notes |
1,000 |
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2065 |
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985 |
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985 |
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| Floating-rate senior notes: |
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| Floating-rate senior notes |
1,883 |
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2049-2075 |
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1,861 |
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1,863 |
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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 |
88 |
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2031 |
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87 |
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89 |
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5.125% notes |
600 |
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2050 |
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571 |
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585 |
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| Euro senior notes: |
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1.000% senior notes |
575 |
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2028 |
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574 |
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587 |
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1.500% senior notes |
575 |
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|
2032 |
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573 |
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586 |
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Finance lease obligations |
1,085 |
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2026-2118 |
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1,085 |
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781 |
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Facility notes, bonds and other |
321 |
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2026-2045 |
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321 |
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321 |
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| Total debt |
$ |
24,628 |
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$ |
24,386 |
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$ |
24,127 |
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| Less: current maturities |
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(637) |
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(608) |
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| Long-term debt |
|
|
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$ |
23,749 |
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$ |
23,519 |
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