XML 79 R43.htm IDEA: XBRL DOCUMENT v3.25.0.1
Borrowings and Lines of Credit (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term Debt Obligations
($ in millions)Maturity Date20242023
2.4% notes ($300)
2024— 299 
0.875% notes (€600)
2025620 660 
1.875% notes (€300)
2025310 330 
1.2% notes ($700)
2026698 696 
Term Loan Credit Agreement, due 2026 (€750)
2026776 552 
1.4% notes (€600)
2027619 659 
3.75% notes ($800)(1)
2028806 808 
2.5% notes (€80)
202983 87 
2.8% notes ($300)
2029298 298 
2.75% notes (€700)
2029718 768 
2.55% notes ($300)
2030297 297 
1.95% note (€50)
203751 54 
7.7% notes ($176)
2038175 174 
5.5% notes ($250)
2040248 247 
3.0% notes (€120)
2044118 126 
Various other non-U.S. debtVarious— 1 
Finance lease obligationsVarious7 8 
Impact of derivatives on debt(2)
N/A(16)(14)
Total$5,808 $6,050 
Less payments due within one yearN/A932 302 
Long-term debt$4,876 $5,748 
(1)In February 2018, PPG entered into interest rate swaps which converted $375 million of the notes from a fixed interest rate to a floating interest rate based on the three month LIBOR. The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 6.4% and 6.2% for the years ended December 31, 2024 and 2023, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(2)Fair value adjustment of the 3.75% $800 million notes as a result of fair value hedge accounting treatment related to the outstanding interest rate swaps as of December 31, 2024 and 2023. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
Long-Term Debt
($ in millions)
December 31, 2024 (a)
December 31, 2023 (b)
Long-term debt - carrying value$5,801$6,042
Long-term debt - fair value$5,634$5,781
(a)    Excluding finance lease obligations of $7 million and short term borrowings of $7 million as of December 31, 2024.
(b)    Excluding finance lease obligations of $8 million and short term borrowings of $4 million as of December 31, 2023.
Schedule of Maturities of Long-term Debt
Long-term Debt Maturities
($ in millions)Maturity per year
2025$933 
2026$1,474 
2027$621 
2028$782 
2029$1,106 
Thereafter$892 
Short-Term Debt Outstanding
Short-term Debt Obligations
($ in millions)20242023
Various, weighted average 1.9% and 2.4% as of December 31, 2024 and 2023, respectively. $7 $4