XML 65 R44.htm IDEA: XBRL DOCUMENT v3.25.4
Short-Term Borrowings and Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings
Details of carrying amounts of short-term borrowings were as follows:
(in millions)
Interest rate as of December 31, 2025 (%)
Borrowing limit as of December 31, 2025
December 31, 2025December 31, 2024
Maturity Date
January 2026 - November 2026
2.67% to 4.87%
$1,068 $963 $482 
Revolving Credit Facility
(1)
1,500 — — 
Total principal short-term borrowings$2,568 $963 $482 
Less: unamortized discounts(3)(3)
Total short-term borrowings$960 $479 
Weighted-average interest rates3.02 %3.07 %
(1)Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to the applicable benchmark rate, including but not limited to Term Secured Overnight Financing Rate (“Term SOFR”), plus an applicable margin ranging from 0.75% to 1.25%.
Schedule of Long-Term Debt
Details of carrying amounts of long-term debt were as follows:
(in millions)

December 31, 2025December 31, 2024
Issue Date
Contractual Maturity Date
Fixed vs. Floating
Amount
Interest Rate (%)
AmountInterest Rate (%)
Secured
November 20212026Fixed$— $38 3.78 
April 20232026Fixed— 156 6.76 
March 20222027Fixed— 273 4.26 
August 20242027Fixed114 4.90 111 4.90 
Unsecured
Farfetch Term Loans2027Floating— 493 11.57 
November 20252027Fixed74 2.65 — 
February 20252028Fixed23 4.18 — 
September 20252028Fixed439 3.80 — 
Total principal long-term debt$650 $1,071 
Less: current portion of long-term debt— (66)
Less: unamortized discounts(2)(17)
Total long-term debt$648 $988 
Schedule of Long-Term Debt Maturities
Future contractual principal payments for long-term debt as of December 31, 2025 were as follows:
(in millions)
Long-term debt
2026$— 
2027187 
2028463 
2029— 
2030— 
Thereafter— 
Total$650