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Debt and Credit Agreements (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Activity Related to Long-Term Debt | Total activity related to long-term debt as of the end of third quarter 2022 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 9, Fair Value Measurements.
(Dollars in millions) | Current Portion | Long-term Portion | Total
Long-term Debt as of December 31, 2021 | $ | 181 |  | $ | 16,185 |  | $ | 16,366 |
2022 Activity: |  |  |
Long-term Debt Issued | — |  | 2,000 |  | 2,000 |
Long-term Debt Repaid | (178) |  | — |  | (178) |
Reclassifications | 150 |  | (150) |  | — |
Hedging, Discount, Premium and Other Activity | 2 |  | (140) |  | (138) |
Long-term Debt as of September 30, 2022 | $ | 155 |  | $ | 17,895 |  | $ | 18,050 |
Schedule of Interest Rate Derivatives | The amounts recorded in long-term debt on the consolidated balance sheet related to these fair value hedges is summarized in the table below.
(Dollars in millions) | September 30, 2022
Notional Value of Hedged Notes | $ | 800 |
Cumulative Fair Value Adjustment to Hedged Notes | (120) |
Carrying Amount of Hedged Notes | $ | 680 |

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