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Contractual Obligations and Commitments (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments The debt maturity schedule for our long-term debt obligations is presented below:
(in millions, except interest rates)Issuance DateMaturity DateAs of
Coupon Rate(1)
March 31,
2025		December 31,
2024
March 2026 Senior NotesFebruary 2019March 2026— 255 3.750%
December 2027 Senior Notes(3)
November 2019December 2027973 935 0.625%
March 2028 Senior Notes(3)
March 2022March 2028811 779 1.375%
March 2028 Senior NotesFebruary 2018March 2028344 344 4.000%
March 2029 Senior NotesFebruary 2019March 2029272 272 4.000%
March 2029 Senior Notes(3)
February 2024March 2029811 779 3.375%
June 2030 Senior NotesMay 2020June 20301,200 1,200 2.650%
March 2031 Senior Notes(3)
March 2022March 2031811 779 1.625%
March 2031 Senior Notes(3)
February 2025March 2031919 — 3.000 %
March 2032 Senior Notes(3)
February 2024March 20321,352 1,299 3.500%
March 2034 Senior Notes(3)
March 2022March 2034541 519 1.875%
March 2034 Senior Notes(3)
February 2025March 2034703 — 3.250 %
November 2035 Senior Notes(2)
November 2005November 2035350 350 6.500%
March 2039 Senior NotesFebruary 2019March 2039450 450 4.550%
January 2040 Senior NotesDecember 2009January 2040300 300 7.375%
March 2049 Senior NotesFebruary 2019March 2049650 650 4.700%
Unamortized Debt Issuance Discount and Deferred Financing Costs2025 - 2049(82)(70)
Finance Lease ObligationVarious126 126 
Long-term debt$10,532 $8,968 
(1) Coupon rates are semi-annual, except for the euro-denominated notes, which bear an annual coupon.
(2) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 Notes will be permanently reinstated to the issuance rate of 6.25% if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher.
(3) These notes are euro-denominated and presented in U.S. dollars based on the exchange rate in effect as of March 31, 2025 and December 31, 2024, respectively.
Summary Of Term Loan And Revolving Credit Facility Agreement Compliance With Debt Covenants
As of March 31, 2025, we were in compliance with the financial covenant required by the 2021 Revolving Credit Facility.
Covenant RequirementActual
 as of March 31, 2025as of March 31, 2025
Maximum permitted leverage ratio(1)
4.75 times2.21 times
(1) Ratio of total debt to deemed consolidated EBITDA, as defined by the 2021 Revolving Credit Facility credit agreement.
Schedule of Short-Term Debt
As of
(in millions, except maturity and yield)March 31, 2025December 31, 2024
Commercial paper outstanding (at par)$— $191 
Maximum borrowing capacity2,750 2,750 
Borrowing capacity available2,750 2,559 
Weighted average maturity0 days20 days
Weighted average yield— %4.7 %
Transfer of Financial Assets Accounted for as Sales
Amounts de-recognized for accounts and notes receivable, which are excluded from Trade accounts receivable, net within our accompanying unaudited consolidated balance sheets, are aggregated by contract denominated currency below (in millions):
Factoring ArrangementsAs of March 31, 2025As of December 31, 2024
Amount
De-recognized		Weighted Average
Interest Rate		Amount
De-recognized		Weighted Average
Interest Rate
Euro denominated$181 2.6 %$176 5.3 %
Yen denominated207 1.3 %193 0.9 %
Renminbi denominated
18 2.5 %26 2.0 %