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Debt
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Debt Debt
For additional information, see Note 11 Debt in Viatris’ 2022 Form 10-K.
Receivables Facility and Note Securitization Facility
The Company has a $400 million Receivables Facility, which expires in April 2025 and a $200 million Note Securitization Facility which expires in August 2024. Under the terms of each of the Receivables Facility and Note Securitization Facility, certain of our accounts receivable secure the amounts borrowed and cannot be used to pay our other debts or liabilities. The amount that we may borrow at a given point in time is determined based on the amount of qualifying accounts receivable that are present at such point in time. Amounts outstanding under either facility are included as a component of short-term borrowings, while the accounts receivables securing these obligations remain as a component of accounts receivable, net, in our condensed consolidated balance sheets.
Long-Term Debt
Effective April 28, 2023, we executed an amendment to the Revolving Facility to convert the benchmark interest rate from LIBOR to an adjusted SOFR, with no change in the applicable interest rate margins.

A summary of long-term debt is as follows:
($ in millions)Interest Rate as of September 30, 2023September 30,
2023		December 31,
2022
Current portion of long-term debt:
2023 Senior Notes (a) *
3.125 %$— $750.6 
2023 Senior Notes *4.200 %500.0 499.8 
2024 Euro Senior Notes ****
1.023 %798.1 — 
Other0.7 0.7 
Deferred financing fees(0.1)(0.6)
Current portion of long-term debt$1,298.7 $1,250.5 
Non-current portion of long-term debt:
2024 Euro Senior Notes **
2.250 %1,056.9 1,069.8 
2024 Euro Senior Notes ****
1.023 %— 813.5 
2025 Euro Senior Notes *
2.125 %528.3 534.8 
2025 Senior Notes ***
1.650 %756.7 759.6 
2026 Senior Notes **
3.950 %2,244.6 2,243.2 
2027 Euro Senior Notes ****
1.362 %928.3 945.9 
2027 Senior Notes ***
2.300 %771.2 775.3 
2028 Euro Senior Notes **
3.125 %789.2 798.5 
2028 Senior Notes *
4.550 %749.1 748.9 
2030 Senior Notes ***
2.700 %1,506.9 1,512.8 
2032 Euro Senior Notes ****
1.908 %1,418.7 1,444.4 
2040 Senior Notes ***
3.850 %1,645.6 1,650.6 
2043 Senior Notes *
5.400 %497.4 497.4 
2046 Senior Notes **
5.250 %999.9 999.9 
2048 Senior Notes *
5.200 %747.8 747.8 
2050 Senior Notes ***
4.000 %2,197.4 2,200.8 
YEN Term Loan FacilityVariable267.8 305.1 
Other2.5 2.0 
Deferred financing fees(31.4)(35.1)
Long-term debt$17,076.9 $18,015.2 
____________
(a)    In the first quarter of 2020, the Company terminated interest rate swaps designated as a fair value hedge resulting in net proceeds of approximately $45 million. The fair value adjustment was amortized to interest expense over the remaining term of the notes, which were repaid at maturity in the first quarter of 2023.
*    Instrument was issued by Mylan Inc.
**    Instrument was originally issued by Mylan N.V.; now held by Utah Acquisition Sub Inc.
***     Instrument was issued by Viatris Inc.
****     Instrument was issued by Upjohn Finance B.V.
At September 30, 2023 and December 31, 2022, the aggregate fair value of the Company’s outstanding notes was approximately $14.50 billion and $15.36 billion, respectively. The fair values of the outstanding notes were valued at quoted market prices from broker or dealer quotations and were classified as Level 2 in the fair value hierarchy.
Mandatory minimum repayments remaining on the notional amount of outstanding long-term debt at September 30, 2023 were as follows for each of the periods ending December 31:
(In millions)Total
2023$500 
20241,850 
20251,279 
20262,518 
20271,649 
Thereafter10,064 
Total$17,860