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Debt and Credit Agreements (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Activity Related to Long-Term Debt | Total activity related to long-term debt during the nine months ended September 30, 2025, 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, 2024 | $ | 606 |  | $ | 17,897 |  | $ | 18,503 |
2025 Activity: |  |  |
Long-term Debt Issued | — |  | 600 |  | 600 |
Long-term Debt Repaid | (12) |  | — |  | (12) |
Reclassifications | 2 |  | (2) |  | — |
Hedging, Discount, Premium and Other Activity | 12 |  | 59 |  | 71 |
Long-term Debt as of September 30, 2025 | $ | 608 |  | $ | 18,554 |  | $ | 19,162 |
Schedule of Interest Rate Derivatives | The cumulative adjustment to the hedged notes is included in long-term debt on the consolidated balance sheet as shown in the following table below.
(Dollars in Millions) | September 30, 2025 | December 31, 2024
Notional Value of Hedged Notes | $ | 1,300 |  | $ | 1,050 |
Fair Value Asset Adjustment to Hedged Notes | 27 |  | 7 |
Fair Value Liability Adjustment to Hedged Notes | (93) |  | (123) |
Carrying Amount of Hedged Notes | $ | 1,234 |  | $ | 934 |
The difference in the net fixed-to-float interest settlement on the derivatives is recognized in interest expense and is summarized as follows.
| Third Quarters |  | Nine Months
(Dollars in Millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Interest Expense Impact (Increase) Decrease | $ | (6) |  |  | $ | (8) |  |  | $ | (16) |  |  | $ | (24) |
Schedule of Interest Expense / Unrealized Amounts Related to Cash Flow Hedges | Prior to full settlement, unrealized gains related to the swaps were included in other comprehensive income as summarized in the table below.
| Third Quarters |  | Nine Months
(Dollars in Millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Unrealized Gain - Net of Tax | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |

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