v3.26.1
Long-Term Obligations
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Long-Term Obligations Long-Term Obligations
Long-term obligations consist of the following (in millions):
March 31, 2026
December 31, 2025
Maturity DateInterest RateAmountInterest RateAmount
Senior Unsecured Credit Agreement:
Term loan payableJanuary 20275.14 %$500 5.19 %$500 
Revolving credit facilitiesDecember 20305.48 %
(1)
212 3.13 %
(1)
1 
Senior Unsecured Term Loan Agreement:
Term loan payableMarch 20293.82 %503 3.81 %510 
Unsecured Senior Notes:
U.S. Notes (2028)June 20285.75 %800 5.75 %800 
U.S. Notes (2033)June 20336.25 %600 6.25 %600 
Euro Notes (2028)April 20284.13 %289 4.13 %294 
Euro Notes (2031)March 20314.13 %866 4.13 %881 
Finance lease obligations5.52 %
(1)
101 4.81 %
(1)
106 
Other debtVarious through December 20303.76 %
(1)
4 3.21 %
(1)
3 
Total debt3,875 3,695 
Less: long-term debt issuance costs and unamortized bond discounts(30)(32)
Total debt, net of debt issuance costs and unamortized bond discounts3,845 3,663 
Less: current maturities, net of debt issuance costs(532)(32)
Long-term debt, net of debt issuance costs and unamortized bond discounts$3,313 $3,631 
(1)     Interest rate derived via a weighted average.

Cash paid for interest was $54 million and $60 million for the three months ended March 31, 2026 and 2025, respectively.