DEBT AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt Outstanding

At December 31, 2024 and 2023, we had the following debt outstanding:

as of December 31 (in millions)	Effective interest rate as of December 31,2024¹		20241		20231
Commercial paper	4.8	%	$	300	$	—
0.4% notes due 2024	—	%	—		828
1.322% notes due 2024	—	%	—		1,398
7.0% notes due 2024	—	%	—		13
Floating-rate notes due 2024	—	%	—		300
Term loan maturing 2024	—	%	—		130
1.3% notes due 2025	1.5	%	625		662
Delayed draw term loan due 2025	5.7	%	1,826		—
2.6% notes due 2026	2.7	%	749		748
Term loan maturing 2026	6.7	%	1,643		1,643
7.65% debentures due 2027	7.7	%	5		5
1.915% notes due 2027	2.0	%	1,446		1,445
6.625% debentures due 2028	5.8	%	94		95
2.272% notes due 2028	2.4	%	1,245		1,244
1.3% notes due 2029	1.5	%	776		828
3.95% notes due 2030	4.1	%	497		496
1.73% notes due 2031	2.7	%	646		646
2.539% notes due 2032	2.6	%	1,541		1,540
6.25% notes due 2037	6.3	%	266		265
3.65% notes due 2042	5.4	%	6		6
4.5% notes due 2043	4.6	%	256		256
3.5% notes due 2046	3.7	%	441		440
3.132% notes due 2051	3.2	%	743		741
Finance leases and other	4.2	%	21		27
Total debt and finance lease obligations			13,126		13,756
Short-term debt			(2,126)		—
Current maturities of long-term debt and finance lease obligations			(626)		(2,667)
Long-term debt and finance lease obligations			$	10,374	$	11,089

1Book values include any discounts, premiums and adjustments related to hedging instruments and effective interest rates reflect amortization of those items.

Future Debt Maturities

Future Debt and Finance Lease Maturities

as of and for the years ended December 31 (in millions)	Debt maturities
2025	$	2,757
2026	2,398
2027	1,458
2028	1,345
2029	784
Thereafter	4,438
Total debt and finance lease maturities	13,180
Discounts, premiums, and adjustments relating to hedging instruments	(54)
Total debt and finance lease obligations	$	13,126