Debt was as follows:


(in millions)	December 31, 2024		December 31, 2023




7.125% Senior Notes due 2024	$	—	$	2,500
3.500% Senior Notes due 2025	3,000		3,000
4.738% Series 2018-1 A-1 Notes due 2025	131		656
7.625% Senior Notes due 2025	—		1,500
1.500% Senior Notes due 2026	1,000		1,000
2.250% Senior Notes due 2026	1,800		1,800
2.625% Senior Notes due 2026	1,200		1,200
7.625% Senior Notes due 2026	1,500		1,500
3.750% Senior Notes due 2027	4,000		4,000
5.375% Senior Notes due 2027	500		500
2.050% Senior Notes due 2028	1,750		1,750
4.750% Senior Notes due 2028	1,500		1,500
4.750% Senior Notes to affiliates due 2028	1,500		1,500
4.800% Senior Notes due 2028	900		900
4.910% Class A Senior ABS Notes due 2028	570		750
4.950% Senior Notes due 2028	1,000		1,000
5.152% Series 2018-1 A-2 Notes due 2028	1,194		1,562
6.875% Senior Notes due 2028	2,475		2,475
2.400% Senior Notes due 2029	500		500
2.625% Senior Notes due 2029	1,000		1,000
3.375% Senior Notes due 2029	2,350		2,350
3.550% Senior Notes due 2029 (EUR-denominated)	621		—
4.200% Senior Notes due 2029	700		—
4.250% Class A Senior ABS Notes due 2029	500		—
4.850% Senior Notes due 2029	1,000		—
5.050% Class A Senior ABS Notes due 2029	500		—
3.875% Senior Notes due 2030	7,000		7,000
2.250% Senior Notes due 2031	1,000		1,000
2.550% Senior Notes due 2031	2,500		2,500
2.875% Senior Notes due 2031	1,000		1,000
3.500% Senior Notes due 2031	2,450		2,450
2.700% Senior Notes due 2032	1,000		1,000
3.700% Senior Notes due 2032 (EUR-denominated)	777		—
8.750% Senior Notes due 2032	2,000		2,000
5.050% Senior Notes due 2033	2,600		2,600
5.200% Senior Notes due 2033	1,250		1,250
5.150% Senior Notes due 2034	1,250		—
5.750% Senior Notes due 2034	1,000		1,000
4.700% Senior Notes due 2035	900		—
3.850% Senior Notes due 2036 (EUR-denominated)	673		—
4.375% Senior Notes due 2040	2,000		2,000
3.000% Senior Notes due 2041	2,500		2,500
4.500% Senior Notes due 2050	3,000		3,000
3.300% Senior Notes due 2051	3,000		3,000
3.400% Senior Notes due 2052	2,800		2,800
5.650% Senior Notes due 2053	1,750		1,750
5.750% Senior Notes due 2054	1,250		1,250
6.000% Senior Notes due 2054	1,000		1,000
5.250% Senior Notes due 2055	900		—
5.500% Senior Notes due 2055	750		—
3.600% Senior Notes due 2060	1,700		1,700
5.800% Senior Notes due 2062	750		750



Unamortized premium on debt to third parties	775		1,011


Unamortized discount on debt to third parties	(223)		(223)

Debt issuance costs and consent fees	(278)		(263)
Total debt	78,265		75,018


Less: Current portion of Senior Notes	4,068		3,619
Total long-term debt	$	74,197	$	71,399

Long-term debt was classified as follows:


(in millions)	December 31, 2024		December 31, 2023

Long-term debt	$	72,700	$	69,903
Long-term debt to affiliates	1,497		1,496
Total long-term debt	$	74,197	$	71,399

During the year ended December 31, 2024, we issued the following Senior Notes and ABS Notes:


(in millions)	Principal Issuances		Discounts and Issuance Costs		Net Proceeds from Issuance of Long-Term Debt		Issue Date
4.850% Senior Notes due 2029	$	1,000	$	(6)	$	994	January 12, 2024
5.150% Senior Notes due 2034	1,250		(11)		1,239		January 12, 2024
5.500% Senior Notes due 2055	750		(7)		743		January 12, 2024
3.550% Senior Notes due 2029 (EUR-denominated)	645		(3)		642		May 8, 2024
3.700% Senior Notes due 2032 (EUR-denominated)	806		(4)		802		May 8, 2024
3.850% Senior Notes due 2036 (EUR-denominated)	699		(7)		692		May 8, 2024
4.200% Senior Notes due 2029	700		(4)		696		September 26, 2024
4.700% Senior Notes due 2035	900		(6)		894		September 26, 2024
5.250% Senior Notes due 2055	900		(10)		890		September 26, 2024
Total of Senior Notes issued	$	7,650	$	(58)	$	7,592

5.050% Class A Senior ABS Notes due 2029	$	500	$	(3)	$	497	February 14, 2024
4.250% Class A Senior ABS Notes due 2029	500		(2)		498		October 9, 2024
Total of ABS Notes issued	$	1,000	$	(5)	$	995

During the year ended December 31, 2024, we made the following note redemptions and repayments:


(in millions)	Principal Amount		Payment Date
7.125% Senior Notes due 2024	$	2,500	June 15, 2024
7.625% Senior Notes due 2025	1,500		November 15, 2024
Total Redemptions	$	4,000




4.738% Secured Series 2018-1 A-1 Notes due 2025	$	525	Various
5.152% Series 2018-1 A-2 Notes due 2028	368		Various
4.910% Class A Senior ABS Notes due 2028	180		Various

Total Repayments	$	1,073

The expected maturities of our ABS Notes as of December 31, 2024, were as follows:


(in millions)	Expected Maturities

2025	$	570
2026	594
2027	406
Total	$	1,570

The following table summarizes the carrying amounts and classification of assets, which consists primarily of the deferred purchase price, and liabilities included on our Consolidated Balance Sheets with respect to the Service BRE:


(in millions)	December 31, 2024		December 31, 2023
Other current assets	$	—	$	209

Other current liabilities	328		373

The following table summarizes the carrying amounts and classification of assets and liabilities included in our Consolidated Balance Sheets with respect to the ABS Entities:


(in millions)	December 31, 2024		December 31, 2023

Assets
Equipment installment plan receivables, net	$	1,472	$	739
Equipment installment plan receivables due after one year, net	352		168
Other current assets	151		101
Liabilities
Accounts payable and accrued liabilities	2		1
Short-term debt	570		198
Long-term debt	996		550

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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