Debt (Tables)

3 Months Ended

Mar. 31, 2024

Long-term debt was:


			March 31	December 31	March 31
in $ millions	Effective interest rate		2024	2023	2023
Long-term debt
(U.S. Dollar denominated unless otherwise noted)
3.125% € notes due 2023	3.23	%	-	-	815
0.875% € notes due 2023	0.92	%	-	-	543
1.875% € notes due 2024	2.02	%	-	663	652
3.875% U.S. Dollar notes due 2025	3.93	%	1,250	1,250	1,250
1.250% € notes due 2026	1.25	%	810	829	815
3.400% U.S. Dollar notes due 2027	3.49	%	600	600	600
4.000% € notes due 2027	4.13	%	540	553	-
3.950% U.S. Dollar notes due 2028	4.07	%	900	900	900
1.375% € notes due 2028	1.42	%	648	663	652
4.125% Sterling notes due 2029	4.22	%	509	509	495
1.625% € notes due 2030	1.72	%	810	829	815
4.000% € notes due 2031	4.10	%	810	829	-
6.400% U.S. Dollar notes due 2033 (i)	6.43	%	213	213	213
4.250% € notes due 2035	4.38	%	810	829	-
5.125% U.S. Dollar notes due 2045	5.25	%	500	500	500
4.400% U.S. Dollar notes due 2047	4.44	%	400	400	400
4.500% U.S. Dollar notes due 2048	4.63	%	600	600	600
PHP interest bearing loan due 2027	6.03	%	400	396	443
U.S. Dollar Commercial Paper	5.72	%	1,863	1,002	-
Euro Commercial Paper	4.08	%	929	-	-
Other			26	37	37
Unamortized discounts and debt issuance costs			(64)	(67)	(52)
Total long-term debt (ii)			12,554	11,535	9,678
Less: current portion of long-term debt (iii)			(2,874)	(1,759)	(2,095)
Long-term debt			9,680	9,776	7,583

(i) The $300 million bond was issued in September 2003, and at the time of issuance the bond was partially swapped to floating interest rates. In August 2009 and December 2010, $87 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken and the interest rate hedge was closed out. The remaining fair value hedge adjustment on the hedged item in the Condensed Consolidated Balance Sheets was $29 million, $30 million, and $32 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

(ii) Of the Company’s nominal fixed rate debt at March 31, 2024 and December 31, 2023, $1,375 million, was hedged to daily compounded Secured Overnight Financing Rate (SOFR) using interest rate swaps. Of the Company’s nominal fixed rate debt at March 31, 2023, $1,782 million was hedged to a mix of U.S. Dollar London Interbank Offered Rate (LIBOR) and Euro Interbank Offered Rate (EURIBOR) floating rates using interest rate swaps.

(iii) Excludes borrowings from bank overdrafts of $118 million, $107 million and $156 million, which are recorded within Current portion of long-term debt in the Condensed Consolidated Balance Sheets at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

Schedule of Maturities of Long-Term Debt

The long-term debt maturities, net of the unamortized discounts and debt issuance costs, for the periods subsequent to March 31, 2024 are as follows:


in $ millions	Remainder of 2024	2025	2026	2027	2028	2029 and thereafter	Total
Long-term debt maturities	2,874	1,219	814	1,431	1,516	4,700	12,554