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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract] |
Debt | The following table sets forth our consolidated debt as of the dates indicated:
| December 31, 2023 |  | December 31, 2022 |  |
| (Millions of dollars)
Commercial paper outstanding (a) | $ | — |  |  | $ | — |  |  |
Senior unsecured obligations: |  |  |  |  |
$425 at 5.0% due September 2023 | — |  |  | 425 |  |  |
$500 at 7.5% due September 2023 | — |  |  | 500 |  |  |
$500 at 2.75% due September 2024 | 484 |  |  | 500 |  |  |
$250 at 3.2% due March 2025 (b) | 250 |  |  | — |  |  |
$500 at 4.9% due March 2025 | 500 |  |  | 500 |  |  |
$400 at 2.2% due September 2025 | 387 |  |  | 387 |  |  |
$600 at 5.85% due January 2026 | 600 |  |  | 600 |  |  |
$650 at 5.0% due March 2026 (b) | 650 |  |  | — |  |  |
$750 at 5.55% due November 2026 | 750 |  |  | — |  |  |
$500 at 4.0% due July 2027 | 500 |  |  | 500 |  |  |
$800 at 4.55% due July 2028 | 800 |  |  | 800 |  |  |
$100 at 6.875% due September 2028 | 100 |  |  | 100 |  |  |
$750 at 5.65% due November 2028 | 750 |  |  | — |  |  |
$700 at 4.35% due March 2029 | 700 |  |  | 700 |  |  |
$750 at 3.4% due September 2029 | 714 |  |  | 714 |  |  |
$850 at 3.1% due March 2030 | 780 |  |  | 780 |  |  |
$500 at 3.25% due June 2030 (b) | 500 |  |  | — |  |  |
$500 at 5.8% due November 2030 | 500 |  |  | — |  |  |
$600 at 6.35% due January 2031 | 600 |  |  | 600 |  |  |
$750 at 6.1% due November 2032 | 750 |  |  | 750 |  |  |
$1,500 at 6.05% due September 2033 | 1,500 |  |  | — |  |  |
$400 at 6.0% due June 2035 | 400 |  |  | 400 |  |  |
$600 at 6.65% due October 2036 | 600 |  |  | 600 |  |  |
$250 at 6.4% due May 2037 (b) | 250 |  |  | — |  |  |
$600 at 6.85% due October 2037 | 600 |  |  | 600 |  |  |
$650 at 6.125% due February 2041 | 650 |  |  | 650 |  |  |
$250 at 4.2% due December 2042 (b) | 250 |  |  | — |  |  |
$400 at 6.2% due September 2043 | 400 |  |  | 400 |  |  |
$550 at 5.15% due October 2043 (b) | 550 |  |  | — |  |  |
$250 at 4.2% due March 2045 (b) | 250 |  |  | — |  |  |
$500 at 4.25% due September 2046 (b) | 500 |  |  | — |  |  |
$700 at 4.95% due July 2047 | 564 |  |  | 689 |  |  |
$500 at 4.2% due October 2047 (b) | 500 |  |  | — |  |  |
$1,000 at 5.2% due July 2048 | 919 |  |  | 1,000 |  |  |
$500 at 4.85% due February 2049 (b) | 500 |  |  | — |  |  |
$750 at 4.45% due September 2049 | 576 |  |  | 673 |  |  |
$500 at 4.5% due March 2050 | 443 |  |  | 443 |  |  |
$800 at 3.95% due March 2050 (b) | 797 |  |  | — |  |  |
$300 at 7.15% due January 2051 | 300 |  |  | 300 |  |  |
$1,750 at 6.625% due September 2053 | 1,750 |  |  | — |  |  |
Guardian $120 term loan, rate of 6.58% as of December 31, 2023, due June 2025 | 120 |  |  | 120 |  |  |
Viking $60 term loan, rate of 6.71% as of December 31, 2023, due March 2026 | 60 |  |  | — |  |  |
Total debt | 22,794 |  |  | 13,731 |  |  |
Unamortized debt discounts | (1,015) |  |  | (35) |  |  |
Unamortized debt issuance costs and terminated swaps | (112) |  |  | (75) |  |  |
Current maturities of long-term debt | (484) |  |  | (925) |  |  |
Long-term debt | $ | 21,183 |  |  | $ | 12,696 |  |  |
(a) - Individual issuances of commercial paper under our commercial paper program generally mature in 90 days or less. (b) - Debt assumed in the Magellan Acquisition. Amounts are presented at face value with discount to fair value included in unamortized debt discounts.
Aggregate Maturities of Long-Term Debt Outstanding | The aggregate maturities of long-term debt outstanding and interest payments on debt as of December 31, 2023, for the years 2024 through 2028 are shown below:
|  | Senior Unsecured Obligations |  |  |  |  |  | Guardian |  | Viking |  | Interest Obligations on Debt |  | Total
|  | (Millions of dollars)
2024 |  | $ | 484 |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 1,167 |  |  | $ | 1,651 |
2025 |  | $ | 1,137 |  |  |  |  |  |  | $ | 120 |  |  | $ | — |  |  | $ | 1,124 |  |  | $ | 2,381 |
2026 |  | $ | 2,000 |  |  |  |  |  |  | $ | — |  |  | $ | 60 |  |  | $ | 1,038 |  |  | $ | 3,098 |
2027 |  | $ | 500 |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 987 |  |  | $ | 1,487 |
2028 |  | $ | 1,650 |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 951 |  |  | $ | 2,601 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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