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DEBT
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
The following table summarizes the Company’s outstanding debt:
June 30,December 31,June 30,
202620252025
Long-term debt (including current portion)$9,825.7 $9,670.8 $8,979.6 
Short-term borrowings2,246.4 1,200.5 1,706.7 
Total debt outstanding$12,072.1 $10,871.3 $10,686.3 
Long-Term Debt
The Company’s long-term debt primarily consists of senior notes and periodically, amounts borrowed under its credit agreements. In January 2026, the Company repaid the principal of $350.0 million related to the Company’s 3.95% senior notes using commercial paper. For further details on the Company’s long-term debt, see the Credit Agreements section below and Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Credit Agreements
In June 2026, the Company amended its amended and restated credit agreement dated as of August 2, 2021, to extend the maturity of $200.0 million of commitments available for borrowing and issuing letters of credit under the credit agreement from June 20, 2026 to June 20, 2031.
In February 2026, the Company amended its amended and restated credit agreement dated as of November 17, 2025, to extend the maturity of $75.0 million of commitments available for borrowing and issuing letters of credit under the credit agreement from June 20, 2026 to December 20, 2030. In June 2026, the Company borrowed $500.0 million on this credit agreement for general corporate purposes. At June 30, 2026, the amount borrowed is presented within Long-term debt on the Consolidated Balance Sheets.
The Company’s available capacity under its committed credit agreements is reduced for amounts outstanding under its domestic commercial paper program, various credit agreements and letters of credit. At June 30, 2026, the Company had unused capacity under its various credit agreements of $1.969 billion.
Short-Term Borrowings
The following table summarizes the Company’s short-term borrowings:
June 30,December 31,June 30,
202620252025
Domestic:
Domestic commercial paper$1,460.9 $281.4 $1,695.1 
USD delayed draw term loan (DDTL)500.0 625.0 — 
Foreign:
EUR DDTL285.5 293.6 — 
Foreign facilities— 0.5 11.6 
Total$2,246.4 $1,200.5 $1,706.7 
Weighted average interest rate:
Domestic4.1 %4.4 %4.6 %
Foreign3.1 %2.8 %3.0 %
For further details on the Company’s short-term borrowings, see Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.