v3.22.4

Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Short-term and Long-term Borrowings | The carrying value of our short-term and long-term borrowings are comprised of the following at December 31:
| 2022 | 2021
| Amount | Effective Interest Rate (1) | Amount | Effective Interest Rate (1)
Short-term borrowings |  |  |  |
1.231% Senior Notes due December 2023 | $ | 649 |  | 1.5 | % | $ | — |  | — |
Other borrowings | 29 |  | 2.9 | % | 40 |  | 4.5 | %
Total short-term borrowings | 677 |  |  | 40 |  |
Long-term borrowings |  |  |  |
1.231% Senior Notes due December 2023 | — |  | — | % | 647 |  | 1.5 | %
8.55% Debentures due June 2024 (2) | 114 |  | 4.1 | % | 118 |  | 4.1 | %
2.061% Senior Notes due December 2026 | 597 |  | 2.4 | % | 597 |  | 2.2 | %
3.337% Senior Notes due December 2027 | 1,277 |  | 3.8 | % | 1,335 |  | 3.2 | %
6.875% Notes due January 2029 (2) | 273 |  | 3.9 | % | 279 |  | 4.0 | %
3.138% Senior Notes due November 2029 | 523 |  | 3.2 | % | 522 |  | 3.2 | %
4.486% Senior Notes due May 2030 | 497 |  | 4.6 | % | 497 |  | 4.6 | %
5.125% Senior Notes due September 2040 (2) | 1,286 |  | 4.2 | % | 1,292 |  | 4.2 | %
4.080% Senior Notes due December 2047 | 1,338 |  | 4.1 | % | 1,337 |  | 4.1 | %
Other long-term borrowings | 75 |  | 4.2 | % | 63 |  | 2.9 | %
Total long-term borrowings | 5,980 |  |  | 6,687 |  |
Total borrowings | $ | 6,658 |  |  | $ | 6,727 |  |
(1)Effective interest rate is based on the carrying value including issuance costs, interest rate swaps, and step-up adjustments from the Baker Hughes Incorporated ("BHI") acquisition recorded for certain Senior Notes and Debentures. (2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.
Schedule of Maturities of Debt | Maturities of debt for each of the five years in the period ending December 31, 2027, and in the aggregate thereafter, are listed in the table below:
| 2023 | 2024 | 2025 | 2026 | 2027 | Thereafter
Total debt | $ | 677 |  | $ | 150 |  | $ | 14 |  | $ | 611 |  | $ | 1,280 |  | $ | 3,926 |

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