Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following is a summary of outstanding debt (in millions):

As of December 31	2025		2024
Commercial paper	$	—	$	—
3.875% Senior Notes due December 2025	—		749
2.875% Senior Notes due May 2026 (EUR 500M)	588		520
8.205% Junior Subordinated Notes due January 2027	521		521
5.125% Senior Notes due March 2027	598		596
Delayed Draw Term Loan due April 2027	—		1,099
2.850% Senior Notes due May 2027	599		598
4.500% Senior Notes due December 2028	349		348
5.150% Senior Notes due March 2029	995		993
3.750% Senior Notes due May 2029	748		747
2.800% Senior Notes due May 2030	996		995
5.300% Senior Notes due March 2031	645		644
2.050% Senior Notes due August 2031	398		397
2.600% Senior Notes due December 2031	498		497
5.000% Senior Notes due September 2032	497		496
5.350% Senior Notes due February 2033	745		745
5.450% Senior Notes due March 2034	1,736		1,735
6.250% Senior Notes due September 2040	297		297
4.250% Senior Notes due December 2042	207		206
4.450% Senior Notes due May 2043	247		247
4.600% Senior Notes due June 2044	546		545
4.750% Senior Notes due May 2045	595		594
2.900% Senior Notes due August 2051	592		592
3.900% Senior Notes due February 2052	879		878
5.750% Senior Notes due March 2054	1,968		1,966
Other	5		11
Total debt	15,249		17,016
Less: Short-term debt and current portion of long-term debt	589		751
Total long-term debt	$	14,660	$	16,265

Schedule of Repayments of Long-term Debt

Repayments of total debt as of December 31, 2025 are as follows (in millions):

2026	$	589
2027	1,723
2028	352
2029	1,752
2030	1,000
Thereafter	10,006
Total Repayments	15,422
Unamortized discounts, premiums, and debt issuance costs	(173)
Total Debt	$	15,249

Schedule of Commercial Paper

As of December 31, 2025 and 2024, the Company had repaid all issued commercial paper and had no commercial paper outstanding.

The weighted average commercial paper outstanding and its related interest rates are as follows (in millions, except percentages):

	Years Ended December 31
	2025			2024
Weighted average commercial paper outstanding	$	385		$	121
Weighted average interest rate of commercial paper outstanding	4.24		%	5.59		%