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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis | The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis:
| March 31, 2024 |  | December 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 50 |  |  | $ | — |  |  | $ | 50 |  |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | $ | 35 |
Available for sale investments | 66 |  |  | 293 |  |  | — |  |  | 359 |  |  | 63 |  |  | 217 |  |  | — |  |  | 280 |
Interest rate swap agreements | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Cross currency swap agreements | — |  |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |
Investments in equity securities | 15 |  |  | — |  |  | — |  |  | 15 |  |  | 22 |  |  | — |  |  | — |  |  | 22 |
Right to HWI Net Sale Proceeds | — |  |  | — |  |  | 9 |  |  | 9 |  |  | — |  |  | — |  |  | 9 |  |  | 9 |
Total assets | $ | 81 |  |  | $ | 347 |  |  | $ | 9 |  |  | $ | 437 |  |  | $ | 85 |  |  | $ | 270 |  |  | $ | 9 |  |  | $ | 364 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 9 |
Interest rate swap agreements | — |  |  | 208 |  |  | — |  |  | 208 |  |  | — |  |  | 184 |  |  | — |  |  | 184 |
Commodity contracts | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Cross currency swap agreements | — |  |  | 72 |  |  | — |  |  | 72 |  |  | — |  |  | 145 |  |  | — |  |  | 145 |
Total liabilities | $ | — |  |  | $ | 299 |  |  | $ | — |  |  | $ | 299 |  |  | $ | — |  |  | $ | 339 |  |  | $ | — |  |  | $ | 339 |
The following table sets forth a reconciliation of beginning and ending balances of assets and liabilities that were accounted for at fair value using level 3 measurements:
|  |  | Three Months Ended March 31, 2024
Balance at beginning of period |  |  | $ | 9 |
Receipt of HWI Net Sale Proceeds |  |  | — |
Fair value adjustment of HWI Net Sale Proceeds |  |  | — |
Balance at end of period |  |  | $ | 9 |
Financial Assets and Liabilities That Were Not Carried at Fair Value | The following table sets forth the Company’s financial assets and liabilities that were not carried at fair value:
| March 31, 2024 |  | December 31, 2023
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets |  |  |  |  |  |  |
Long-term receivables | $ | 260 |  |  | $ | 190 |  |  | $ | 232 |  |  | $ | 173 |
Liabilities |  |  |  |  |  |  |
Long-term debt and related current maturities | 23,437 |  |  | 22,515 |  |  | 18,358 |  |  | 17,706 |

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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 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: 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 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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