v3.25.4
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
Long-term debt consisted of the following:
December 31,December 31,
20252024
Funding program loans from European Investment Bank ("EIB"):
2.69% due 2028, floating interest rate at Euribor +0.589%
90 106 
2.61% due 2029, floating interest rate at Euribor +0.564%
115 127 
2.56% due 2031, floating interest rate at Euribor +0.473%
236 244 
2.58% due 2031, floating interest rate at Euribor +0.550%
116 120 
2.73% due 2033, floating interest rate at Euribor +0.558%
282 281 
5.07% due 2034, floating interest rate at Secured Overnight Financing Rate +0.939%
270 300 
Credit Facility from Cassa Depositi e Prestiti SpA ("CDP SpA")
2.84% due 2027, floating interest rate at Euribor +0.690%
44 65 
2.65% due 2028, floating interest rate at Euribor +0.550%
59 69 
2.95% due 2029, floating interest rate at Euribor +0.850%
67 74 
Dual tranche senior unsecured convertible bonds
zero-coupon, due 2025 ("Tranche A")
— 749 
zero-coupon, due 2027 ("Tranche B")
749 749 
Finance leases:
3.58% due 2025, fixed interest rate
— 8 
0.00% due 2026, fixed interest rate
37 — 
3.86% due 2027, fixed interest rate
36 34 
3.78% due 2042, fixed interest rate
25 23 
1.75% due 2042, fixed interest rate
1 1 
4.73% due 2045, fixed interest rate
3 — 
5.85% due 2027, fixed interest rate
1 — 
Other funding program loans:
0.25% (weighted average), due 2026-2028, fixed interest rate
2 3 
Total long-term debt2,133 2,953 
Less current portion(298)(990)
Total long-term debt, less current portion1,835 1,963 
Long-Term Debt Denominated by Currencies
Long-term debt is denominated in the following currencies:
December 31,
2025		December 31,
2024
U.S. dollar1,056 1,798 
Euro1,077 1,155 
Total2,133 2,953 
Total Long-Term Debt Outstanding Maturities
Aggregate future maturities of total long-term debt (including current portion) at principal amount are as follows:
December 31,
2025
2026298
2027989
2028248
2029171
2030125
Thereafter303
Total2,134