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SHORT AND LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt Short-term debt consisted of the following:
December 31, 2025December 31, 2024
Short-term foreign bank borrowings against lines of credit$218,546$161,364
U.S. commercial paper—1,145,612
Total short-term debt$218,546$1,306,976
Weighted average interest rate on outstanding commercial paper— %4.5 %
Schedule of Long-term Debt Instruments
Long-term debt consisted of the following:
December 31,
Maturity Date20252024
0.900% Notes (1)
June 1, 2025— 300,000 
3.200% Notes (2)
August 21, 2025— 300,000 
2.300% Notes
August 15, 2026500,000 500,000 
7.200% Debentures
August 15, 2027193,639 193,639 
4.550% Notes (3)
February 24, 2028500,000 — 
4.250% Notes
May 4, 2028350,000 350,000 
2.450% Notes
November 15, 2029300,000 300,000 
4.750% Notes (3)
February 24, 2030500,000 — 
1.700% Notes
June 1, 2030350,000 350,000 
4.950% Notes (3)
February 24, 2032500,000 — 
4.500% Notes
May 4, 2033400,000 400,000 
5.100% Notes (3)
February 24, 2035500,000 — 
3.375% Notes
August 15, 2046300,000 300,000 
3.125% Notes
November 15, 2049400,000 400,000 
2.650% Notes
June 1, 2050350,000 350,000 
Finance lease obligations (see Note 7)
73,51073,802
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts(32,628)(22,266)
Total long-term debt5,184,521 3,795,175 
Less—current portion503,327604,965
Long-term portion$4,681,194 $3,190,210 
(1) In June 2025, we repaid $300,000 of 0.900% Notes due upon their maturity.
(2) In August 2025, we repaid $300,000 of 3.200% Notes due upon their maturity.
(3) During the first quarter of 2025, we issued $500,000 of 4.550% Notes due in February 2028, $500,000 of 4.750% Notes due in February 2030, $500,000 of 4.950% Notes due in February 2032 and $500,000 of 5.100% Notes due in February 2035 (together, the “2025 Notes”). Proceeds from the issuance of the 2025 Notes, net of discounts and issuance costs, totaled $1,984,545. The 2025 Notes were issued under a shelf registration on Form S-3 filed in May 2024 that registered an indeterminate amount of debt securities.
Schedule of Maturities of Long-term Debt
Aggregate annual maturities of our long-term Notes (excluding finance lease obligations and net impact of interest rate swaps, debt issuance costs and unamortized debt discounts) are as follows for the years ending December 31:
2026$500,000 
2027193,639 
2028850,000 
2029300,000 
2030850,000 
Thereafter2,450,000 
Schedule of Net Interest Expense
Net interest expense consists of the following:
For the years ended December 31,202520242023
Interest expense$236,784 $194,240 $176,066 
Capitalized interest
(11,978)(19,923)(14,555)
Interest expense
224,806 174,317 161,511 
Interest income(34,600)(8,662)(9,726)
Interest expense, net
$190,206 $165,655 $151,785