Short-Term and Long-Term Debt

3 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Short-Term and Long-Term Debt

Short-Term and Long-Term Debt

Our Short-term debt as of December 31, 2024, included commercial paper borrowings of $629 million, with a weighted average interest rate of 4.67 percent, and a weighted average maturity period of 33 days. Our Short-term debt as of September 30, 2024, included commercial paper borrowings of $657 million, with a weighted average interest rate of 5.14 percent, and a weighted average maturity period of 24 days. In December 2022, Sensia entered into an unsecured $75 million line of credit. As of December 31, 2024, and September 30, 2024, included in Short-term debt was $70 million borrowed against the line of credit with an interest rate of 5.34 percent and 6.17 percent, respectively. Also included in Short-term debt as of December 31, 2024, and September 30, 2024, was $42 million of interest-bearing loans from Schlumberger (SLB) to Sensia, due April 2025.

The following table presents the carrying amounts and estimated fair values of Long-term debt in the Consolidated Balance Sheet (in millions):

	December 31, 2024				September 30, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
Current portion of long-term debt	$	306	$	305	$	307	$	305
Long-term debt	2,564		2,213		2,561		2,334

We base the fair value of Long-term debt upon quoted market prices for the same or similar issues and therefore consider this a level 2 fair value measurement. The fair value of Long-term debt considers the terms of the debt excluding the impact of derivative and hedging activity. Refer to Note 9 for further information regarding levels in the fair value hierarchy. The carrying value of our Short-term debt approximates fair value.