Debt (Tables)

12 Months Ended

Dec. 31, 2025

The following table summarizes the carrying value of our outstanding debt (in millions, except percentages):


	Coupon		As of		Effective		As of		Effective
	Rate		December 31, 2025		Interest Rate		December 31, 2024		Interest Rate
Long-Term Debt




Senior notes:
Senior notes due 2025	1.900	%	$	—	—	%	$	800	1.803	%
Senior notes due 2025	5.900	%	—		—	%	425		6.036	%
Senior notes due 2026	1.400	%	750		1.252	%	750		1.252	%
Senior notes due 2027	3.600	%	850		3.689	%	850		3.689	%
Senior notes due 2027	5.950	%	300		6.064	%	300		6.064	%
Senior notes due 2029	4.250	%	600		4.419	%	—		—	%
Senior notes due 2030	2.700	%	950		2.623	%	950		2.623	%
Senior notes due 2031	2.600	%	750		2.186	%	750		2.186	%
Senior notes due 2032	6.300	%	425		6.371	%	425		6.371	%
Senior notes due 2035	5.125	%	400		5.226	%	—		—	%
Senior notes due 2042	4.000	%	750		4.114	%	750		4.114	%
Senior notes due 2051	3.650	%	1,000		2.517	%	1,000		2.517	%
Total senior notes			6,775				7,000
Hedge accounting fair value adjustments (1)			(2)				—
Unamortized discount and debt issuance costs			(27)				(23)

Less: Current portion of long-term debt			(750)				(1,225)
Total long-term debt			5,996				5,752

Short-Term Debt
Current portion of long-term debt			750				1,225
Commercial paper			—				450
Unamortized discount and debt issuance costs			—				(2)
Total short-term debt			750				1,673
Total Debt			$	6,746			$	7,425

(1)Includes the fair value adjustments to debt associated with interest rate swaps designated as fair value hedges.

The following table presents expected future principal maturities as of the date indicated (in millions):

EBAY INC 10-K