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FINANCING ARRANGEMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Short-term Debt | Short-term debt obligations include:
Dollars in millions | March 31, 2024 |  | December 31, 2023
Commercial paper borrowings | $ | 2,991 |  |  | $ | — |
Non-U.S. short-term debt obligations | 164 |  |  | 170 |
Current portion of Long-term debt | 2,873 |  |  | 2,873 |
Other | 162 |  |  | 76 |
Total | $ | 6,190 |  |  | $ | 3,119 |
Schedule of Long-term Debt and Current Portion of Long-term Debt | Long-term debt and the current portion of Long-term debt include:
Dollars in millions | March 31, 2024 |  | December 31, 2023
Principal value | $ | 51,854 |  |  | $ | 38,886 |
Adjustments to principal value: |  |  |
Fair value of interest rate swap contracts | (20) |  |  | (11) |
Unamortized basis adjustment from swap terminations | 79 |  |  | 82 |
Unamortized bond discounts and issuance costs | (412) |  |  | (303) |
Unamortized purchase price adjustments of Celgene debt | 859 |  |  | 872 |
Total | $ | 52,360 |  |  | $ | 39,526 |
Current portion of Long-term debt | $ | 2,873 |  |  | $ | 2,873 |
Long-term debt | 49,487 |  |  | 36,653 |
Total | $ | 52,360 |  |  | $ | 39,526 |
During the three months ended March 31, 2024, BMS issued an aggregate principal amount of $13.0 billion of unsecured senior notes ("2024 Senior Unsecured Notes") with proceeds, net of discount and loan issuance costs, of $12.9 billion, consisting of:
|  | Principal Amount (in millions)
Floating rate notes due 2026(a) |  | $ | 500 |
4.950% Notes due 2026 |  | 1,000 |
4.900% Notes due 2027 |  | 1,000 |
4.900% Notes due 2029 |  | 1,750 |
5.100% Notes due 2031 |  | 1,250 |
5.200% Notes due 2034 |  | 2,500 |
5.500% Notes due 2044 |  | 500 |
5.550% Notes due 2054 |  | 2,750 |
5.650% Notes due 2064 |  | 1,750 |
Total |  | $ | 13,000 |
(a) As of March 31, 2024, floating rate equals SOFR+0.49%.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
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