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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Consolidated Balance Sheet:

			December 31, 2024
(dollars in millions)			Total						Level 1						Level 2						Level 3
Recurring fair value measurements:
Marketable securities held in trusts			$	786					$	721					$	65					$	—
Derivative assets			187						—						187						—
Derivative liabilities			451						—						451						—

			December 31, 2023
(dollars in millions)			Total						Level 1						Level 2						Level 3
Recurring fair value measurements:
Marketable securities held in trusts			$	745					$	682					$	63					$	—
Derivative assets			308						—						308						—
Derivative liabilities			180						—						180						—

Fair Value, by Balance Sheet Grouping

The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Consolidated Balance Sheet at December 31:

			2024												2023
(dollars in millions)			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Long-term debt (excluding finance leases)			$	40,991					$	37,956					$	43,546					$	41,598

The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Consolidated Balance Sheet at December 31:

			2024
(dollars in millions)			Total						Level 1						Level 2						Level 3
Long-term debt (excluding finance leases)			$	37,956					$	—					$	35,180					$	2,776

			2023
(dollars in millions)			Total						Level 1						Level 2						Level 3
Long-term debt (excluding finance leases)			$	41,598					$	—					$	37,559					$	4,039

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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