v3.24.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Fair Values of Long-term Debt
The following table summarizes the activity of our cross-currency swaps:
(in millions)Year Ended
December 31, 2024
Other income (expense), net
Pre-tax transaction gain on remeasurement of EUR-denominated debt$79 
Amount recognized in Other income (expense), net reclassified from Accumulated other comprehensive loss
(79)
Accumulated other comprehensive loss
Amount recognized in Accumulated other comprehensive loss reclassified to Other income (expense), net
$79 
Loss associated with the change in fair value of cross-currency swaps recognized in Accumulated other comprehensive loss
(58)
Schedule of Carrying Values and Fair Values of Long-term Debt
The carrying amounts and fair values of our short-term and long-term debt included on our Consolidated Balance Sheets were as follows:
(in millions)Level within the Fair Value HierarchyDecember 31, 2024December 31, 2023
Carrying AmountFair ValueCarrying AmountFair Value
Liabilities:
Senior Notes to third parties1$71,783 $65,631 $70,493 $65,962 
Senior Notes to third parties (EUR-denominated)22,058 2,125 — — 
Senior Notes to affiliates21,497 1,491 1,496 1,499 
Senior Secured Notes to third parties11,361 1,330 2,281 2,207 
ABS Notes to third parties21,566 1,570 748 748