Long-Term Debt and Leases (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following is a summary of Organon's total debt as described above:

($ in millions)	September 30, 2021
Term Loan B Facility:
LIBOR plus 300 bps term loan due 2028	$	2,993
LIBOR plus 300 bps euro-denominated term loan due 2028 (€750 million)	874
4.125% secured notes due 2028	2,100
2.875% euro-denominated secured notes due 2028 (€1.25 billion)	1,461
5.125% notes due 2031	2,000
Other (discounts and debt issuance costs)	(130)
Total principal long-term debt	$	9,298
Less: Current portion of long-term debt	39
Total Long-term debt, net of current portion	$	9,259

Schedule of Maturities of Long-term Debt

The schedule of principal payments required on long-term debt for the next five years and thereafter is as follows:

($ in millions)
2021	$	10
2022	39
2023	39
2024	39
2025	39
Thereafter	9,262

Supplemental Balance Sheet

Supplemental balance sheet information related to operating leases is as follows:

($ in millions)	September 30, 2021		December 31, 2020
Assets
Other Assets	$	288	$	31
Liabilities
Accrued and other current liabilities	67		8
Other Noncurrent Liabilities	221		23
	$	288	$	31
Weighted-average remaining lease term (years)	5.3		4.0
Weighted-average discount rate	3.2%		1.9%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of September 30, 2021 are as follows:

2021 (excluding the first nine months of 2021)	$	19
2022	75
2023	70
2024	53
2025	36
Thereafter	61
Total lease payments	$	314
Less: Imputed interest	26
	$	288