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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements, Recurring and Nonrecurring | The following tables provide the valuation hierarchy classification of assets and liabilities that are recorded at fair value and measured on a recurring basis in the accompanying Unaudited Condensed Consolidated Balance Sheet:
(In millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2023 |  |  |  |  |  |  |  |
Derivative assets (1)(3) |  | $ | 18 |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |
Derivative liabilities (2)(3) |  | $ | (176) |  |  | $ | — |  |  | $ | (176) |  |  | $ | — |
December 31, 2022 |  |  |  |  |  |  |  |
Derivative assets (1) (3) |  | $ | 28 |  |  | $ | — |  |  | $ | 28 |  |  | $ | — |
Derivative liabilities (2) (3) |  | $ | (48) |  |  | $ | — |  |  | $ | (48) |  |  | $ | — |
(1) Included in Other assets, current on the accompanying Unaudited Condensed Consolidated Balance Sheet. (2) Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. (3) Includes cross currency swaps and window forward contracts. The following table provides the carrying amounts and fair values of the Company's long-term notes that are not recorded at fair value in the accompanying Unaudited Condensed Consolidated Balance Sheet:
|  | June 30, 2023 |  | December 31, 2022 |
(In millions) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value |
Total long-term Notes (1) |  | $ | 8,350 |  |  | $ | 6,943 |  |  | $ | 8,350 |  |  | $ | 6,832 |  |
(1) Excludes debt discount and issuance costs.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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