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Debt and Credit Agreements (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Activity Related to Long-Term Debt | Total activity related to long-term debt as of the end of first quarter 2023 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, 2022 | $ | 151 |  | $ | 17,896 |  | $ | 18,047 |
2023 Activity: |  |  |
Long-term Debt Repaid | (142) |  | — |  | (142) |
Reclassifications | 2 |  | (2) |  | — |
Hedging, Discount, Premium and Other Activity | — |  | 17 |  | 17 |
Long-term Debt as of March 31, 2023 | $ | 11 |  | $ | 17,911 |  | $ | 17,922 |
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) | March 31, 2023 | December 31, 2022
Notional Value of Hedged Notes | $ | 800 |  | $ | 800 |
Cumulative Fair Value Adjustment to Hedged Notes | (103) |  | (118) |
Carrying Amount of Hedged Notes | $ | 697 |  | $ | 682 |

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