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LONG-TERM DEBT AND CREDIT AGREEMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Long-Term Debt and Credit Agreements |
| December 31,
2023 |  | 2022
1.30% Euro notes due 2023 | $ | — |  |  | $ | 1,334 |
3.35% notes due 2023 | — |  |  | 300 |
0.00% Euro notes due 2024 | 547 |  |  | 534 |
2.30% notes due 2024 | 750 |  |  | 750 |
4.85% notes due 2024 | 400 |  |  | 400 |
1.35% notes due 2025 | 1,250 |  |  | 1,250 |
2.50% notes due 2026 | 1,500 |  |  | 1,500 |
1.10% notes due 2027 | 1,000 |  |  | 1,000 |
3.50% Euro notes due 2027 | 711 |  |  | — |
4.95% notes due 2028 | 500 |  |  | 500 |
2.25% Euro notes due 2028 | 820 |  |  | 800 |
4.25% notes due 2029 | 750 |  |  | — |
2.70% notes due 2029 | 750 |  |  | 750 |
1.95% notes due 2030 | 1,000 |  |  | 1,000 |
1.75% notes due 2031 | 1,500 |  |  | 1,500 |
0.75% Euro notes due 2032 | 547 |  |  | 534 |
3.75% Euro notes due 2032 | 547 |  |  | — |
5.00% notes due 2033 | 1,100 |  |  | 1,100 |
4.50% notes due 2034 | 1,000 |  |  | — |
4.125% Euro notes due 2034 | 1,094 |  |  | 1,067 |
5.70% notes due 2036 | 441 |  |  | 441 |
5.70% notes due 2037 | 462 |  |  | 462 |
5.375% notes due 2041 | 417 |  |  | 417 |
3.812% notes due 2047 | 442 |  |  | 445 |
2.80% notes due 2050 | 750 |  |  | 750 |
Industrial development bond obligations, floating rate maturing at various dates through 2037 | 22 |  |  | 22 |
6.625% debentures due 2028 | 201 |  |  | 201 |
9.065% debentures due 2033 | 51 |  |  | 51 |
Other (including capitalized leases), 7.0% weighted average interest rate maturing at various dates through 2029 | 217 |  |  | 265 |
Fair value of hedging instruments | (166) |  |  | (287) |
Debt issuance costs | (245) |  |  | (233) |
Total Long-term debt and current related maturities | 18,358 |  |  | 16,853 |
Less: Current maturities of long-term debt | 1,796 |  |  | 1,730 |
Total Long-term debt | $ | 16,562 |  |  | $ | 15,123 |
Principal Payments on Long-Term Debt | The schedule of principal payments on long-term debt is as follows:
| December 31, 2023
2024 | $ | 1,796 |
2025 | 1,314 |
2026 | 1,528 |
2027 | 1,718 |
2028 | 1,527 |
Thereafter | 10,475 |
Total Long-term debt and current related maturities | 18,358 |
Less: Current maturities of long-term debt | 1,796 |
Total Long-term debt | $ | 16,562 |

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