XML 26 R15.htm IDEA: XBRL DOCUMENT v3.26.1
Borrowings Under Credit Facilities and Commercial Paper Program
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Borrowings Under Credit Facilities and Commercial Paper Program Borrowings Under Credit Facilities and Commercial Paper Program 
At March 31, 2026, we had a primary unsecured credit facility with a consortium of 32 banks that included a $6,250,000,000 unsecured revolving credit facility. The unsecured revolving credit facility is comprised of a $2,000,000,000 tranche that matures on July 24, 2029 (none outstanding at March 31, 2026) and a $4,250,000,000 tranche that matures on March 6, 2030 (none outstanding at March 31, 2026). The unsecured revolving credit facility may be increased, subject to certain conditions and lender commitments, by up to an additional $1,250,000,000. The $4,250,000,000 tranche may be extended, at our option, for two successive six month periods. The primary unsecured credit facility also allows us to borrow up to $1,750,000,000 in alternative currencies (none outstanding at March 31, 2026). Borrowings under the unsecured revolving credit facility are subject to interest payable at the applicable margin over the secured overnight financing rate (“SOFR”) interest rate. Based on our current credit ratings and annual sustainability results, the loans under the unsecured revolving credit facility currently bear interest at 0.655% over the SOFR rate at March 31, 2026. In addition, we pay a facility fee quarterly to each bank based on the bank’s commitment amount. This fee depends on our debt ratings and annual sustainability results and was 0.120% at March 31, 2026. 
Under the terms of our commercial paper program, we may issue unsecured commercial paper notes with maturities that vary, but do not exceed 397 days from the date of issue, up to a maximum aggregate face or principal amount outstanding at any time of $3,000,000,000 (none outstanding at March 31, 2026).
The following information relates to aggregate borrowings for the periods presented (in thousands):
Three Months Ended March 31,
20262025
Balance outstanding at quarter end$—$— 
Gross borrowings250— 
Gross repayments(250)— 
Maximum amount outstanding at any month end—— 
Average amount outstanding (total of daily principal balances divided by days in period)3— 
Weighted average interest rate (actual interest expense divided by average borrowings outstanding)3.95 %— %