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Debt Facilities (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2024 and 2023, our mortgage and loans payable consisted of the following (in millions):
20242023
Term loans$628 $643 
Mortgage payable and other loans payable21 29 
649 672 
Less amount representing unamortized debt discount and debt issuance cost— (1)
649 671 
Less current portion(5)(8)
$644 $663 
Our senior notes consisted of the following as of December 31 (in millions):
20242023
Senior NotesIssuance DateMaturity DateAmountEffective RateAmountEffective Rate
2.625% Senior Notes due 2024
November 2019November 2024$— — %$1,000 2.79 %
1.250% Senior Notes due 2025
June 2020July 2025500 1.46 %500 1.46 %
1.000% Senior Notes due 2025
October 2020September 2025700 1.18 %700 1.18 %
1.450% Senior Notes due 2026
May 2021May 2026700 1.64 %700 1.64 %
2.900% Senior Notes due 2026
November 2019November 2026600 3.04 %600 3.04 %
0.250% Euro Senior Notes due 2027
March 2021March 2027518 0.45 %552 0.45 %
1.800% Senior Notes due 2027
June 2020July 2027500 1.96 %500 1.96 %
1.550% Senior Notes due 2028
October 2020March 2028650 1.67 %650 1.67 %
2.000% Senior Notes due 2028
May 2021May 2028400 2.21 %400 2.21 %
2.875% Swiss Franc Senior Notes due 2028
September 2023September 2028331 3.05 %357 3.05 %
1.558% Swiss Franc Senior Notes due 2029
September 2024September 2029110 1.79 %— — %
3.200% Senior Notes due 2029
November 2019November 20291,200 3.30 %1,200 3.30 %
2.150% Senior Notes due 2030
June 2020July 20301,100 2.27 %1,100 2.27 %
3.250% Euro Senior Notes due 2031
November 2024March 2031673 3.46 %— — %
2.500% Senior Notes due 2031
May 2021May 20311,000 2.65 %1,000 2.65 %
3.900% Senior Notes due 2032
April 2022April 20321,200 4.07 %1,200 4.07 %
1.000% Euro Senior Notes due 2033
March 2021March 2033622 1.18 %662 1.18 %
3.650% Euro Senior Notes due 2033
September 2024September 2033622 3.78 %— — %
5.500% Senior Notes due 2034
May 2024June 2034750 5.74 %— — %
3.625% Euro Senior Notes due 2034
November 2024November 2034518 3.75 %— — %
2.000% Japanese Yen Series A Notes due 2035
March 2023March 2035239 2.07 %267 2.07 %
2.130% Japanese Yen Series C Notes due 2035
March 2023March 203594 2.20 %105 2.20 %
2.370% Japanese Yen Series B Notes due 2043
March 2023March 204365 2.42 %72 2.42 %
2.570% Japanese Yen Series D Notes due 2043
March 2023March 204329 2.62 %32 2.62 %
2.570% Japanese Yen Series E Notes due 2043
February 2023March 204364 2.62 %71 2.62 %
3.000% Senior Notes due 2050
June 2020July 2050500 3.09 %500 3.09 %
2.950% Senior Notes due 2051
October 2020September 2051500 3.00 %500 3.00 %
3.400% Senior Notes due 2052
May 2021February 2052500 3.50 %500 3.50 %
14,685 13,168 
Less amount representing unamortized debt discount and debt issuance cost(123)(108)
14,562 13,060 
Less current portion(1,199)(998)
$13,363 $12,062 
Schedule of Optional Redemption
With respect to the notes listed below, we may redeem at our election, at any time or from time to time, some or all of the notes of any series before they mature. The redemption price will equal the sum of (1) an amount equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest up to, but not including, the redemption date and (2) a make-whole premium. If the notes are redeemed on or after the date listed in the table below (the "First Par Call Date"), the redemption price will not include a make-whole premium for the applicable notes.
Senior Notes DescriptionFirst Par Call Date
1.250% Senior Notes due 2025
June 15, 2025
1.000% Senior Notes due 2025
August 15, 2025
1.450% Senior Notes due 2026
April 15, 2026
2.900% Senior Notes due 2026
September 18, 2026
0.250% Euro Senior Notes due 2027
January 15, 2027
1.800% Senior Notes due 2027
May 15, 2027
1.550% Senior Notes due 2028
January 15, 2028
2.000% Senior Notes due 2028
March 15, 2028
2.875% Swiss Franc Senior Notes due 2028
June 12, 2028
1.558% Swiss Franc Senior Notes due 2029
June 4, 2029
3.200% Senior Notes due 2029
August 18, 2029
2.150% Senior Notes due 2030
April 15, 2030
3.250% Euro Senior Notes due 2031
January 15, 2031
2.500% Senior Notes due 2031
February 15, 2031
3.900% Senior Notes due 2032
January 15, 2032
1.000% Euro Senior Notes due 2033
December 15, 2032
3.650% Euro Senior Notes due 2033
June 3, 2033
5.500% Senior Notes due 2034
March 15, 2034
3.625%% Euro Senior Notes due 2034
August 22, 2034
2.000% Japanese Yen Series A Notes due 2035
March 8, 2035
2.130% Japanese Yen Series C Notes due 2035
March 8, 2035
2.370% Japanese Yen Series B Notes due 2043
March 8, 2043
2.570% Japanese Yen Series D Notes due 2043
March 8, 2043
2.570% Japanese Yen Series E Notes due 2043
March 8, 2043
3.000% Senior Notes due 2050
January 15, 2050
2.950% Senior Notes due 2051
March 15, 2051
3.400% Senior Notes due 2052
August 15, 2051
Schedule of Maturities of Debt Instruments
The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of December 31, 2024 (in millions):
Years ending:
20251,205 
20261,305 
20271,648 
20281,385 
20291,315 
Thereafter8,476 
$15,334 
Schedule of Interest Charges Incurred
The following table sets forth total interest costs incurred, and total interest costs capitalized for the years ended December 31 (in millions):
202420232022
Interest expense$457 $402 $356 
Interest capitalized36 26 18 
Interest charges incurred$493 $428 $374