XML 42 R32.htm IDEA: XBRL DOCUMENT v3.23.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The following is a summary of Organon's total debt:
($ in millions)June 30, 2023December 31, 2022
Term Loan B Facility:
LIBOR plus 300 bps term loan due 2028
$2,543 $2,793 
EURIBOR plus 300 bps euro-denominated term loan due 2028 (€750 million)
804 787 
4.125% secured notes due 2028
2,100 2,100 
2.875% euro-denominated secured notes due 2028 (€1.25 billion)
1,368 1,331 
5.125% notes due 2031
2,000 2,000 
Other borrowings8 7 
Other (discounts and debt issuance costs)(93)(105)
Total principal long-term debt$8,730 $8,913 
Less: Current portion of long-term debt8 8 
Total Long-term debt, net of current portion$8,722 $8,905 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Long-term debt was recorded at the carrying amount. The estimated fair value of long-term debt (including current portion) is as follows:
($ in millions)June 30, 2023December 31, 2022
Long-term debt
$8,041 $8,294 
Schedule of Maturities of Long-term Debt
The schedule of principal payments required on long-term debt for the next five years and thereafter is as follows:
($ in millions)
2023$4 
202410 
202510 
202610 
20279 
Thereafter8,780