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BORROWINGS AND LINES OF CREDIT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt, all of which was issued during the quarter ended March 31, 2020 except for Other long-term debt, consisted of the following:

(dollars in millions)
Debt Description			Interest Rate						Due Date			March 31, 2020						December 31, 2019
3-Year Term Loan Credit Facility			2.195		%	1			February 10, 2023			$	1,750		2			$	—
3-Year Fixed Rate Notes			1.923		%				February 15, 2023			500			2			—
5-Year Fixed Rate Notes			2.242		%				February 15, 2025			2,000			2			—
7-Year Fixed Rate Notes			2.493		%				February 15, 2027			1,250			2			—
10-Year Fixed Rate Notes			2.722		%				February 15, 2030			2,000			2			—
20-Year Fixed Rate Notes			3.377		%				April 05, 2040			1,500			2			—
30-Year Fixed Rate Notes			3.577		%				April 05, 2050			2,000			2			—
Other (including project financing obligations and finance leases)												326						319
Total principal long-term debt												11,326						319
Other (discounts and debt issuance costs)												(79)			2			—
Total debt												11,247						319
Less: current portion of long-term debt												218						237
Long-term debt, net of current portion												$	11,029					$	82

¹ The interest rate on the term loan is variable based on six month LIBOR of 1.07% plus 112.5 basis points.

² The net proceeds of the financing arrangements were used to distribute cash to UTC.

Schedule of Maturities of Long-term Debt

Scheduled maturities of long-term debt, excluding amortization of discount, are as follows:

(dollars in millions)
2020						$	218
2021						$	70
2022						$	28
2023						$	2,260
2024						$	—
Thereafter						$	8,750

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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.

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