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SHORT-TERM AND LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Long-term debt, including current maturities and debt issuance costs and discounts, net, consisted of the following (in millions of dollars):
 
As of March 31, 2020
 
As of December 31, 2019
 
Carrying Value
 
Fair Value (3)
 
Carrying Value
 
Fair Value (3)
4.60% senior notes due 2045
$
1,000

 
$
1,167

 
$
1,000

 
$
1,194

3.75% senior notes due 2046
400

 
381

 
400

 
416

4.20% senior notes due 2047
400

 
433

 
400

 
449

1.85% senior notes due 2025 (1)
500

 
500

 
—

 
—

$1.25 billion credit facility (2)
1,000

 
1,000

 
—

 
—

British pound term loan
—

 
—

 
170

 
170

Euro term loan
—

 
—

 
123

 
123

Canadian dollar revolving credit facility
—

 
—

 
46

 
46

Other
51

 
51

 
42

 
42

Subtotal (4)
3,351

 
3,532

 
2,181

 
2,440

Less current maturities
(21
)
 
(21
)
 
(246
)
 
(246
)
Debt issuance costs and discounts, net of amortization
(27
)
 
(27
)
 
(21
)
 
(21
)
Long-term debt (less current maturities)
$
3,303

 
$
3,484

 
$
1,914

 
$
2,173