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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The effect of the Company's fair value hedges on the Consolidated Statement of Earnings in Interest expense – net for the twelve months ended December 31, 2022 and 2021, respectively, were as follows (in millions of dollars):
For the Years Ended December 31,
20222021
Gain or (loss):
Interest rate swaps:
      Hedged item$35 $20 
      Derivatives designated as hedging instrument$(35)$(20)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value and carrying amounts of outstanding derivative instruments in the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively, were as follows (in millions of dollars):
As of December 31,
20222021
Balance Sheet ClassificationFair Value and Carrying Amounts
Cross-currency swapOther non-current liabilities$— $2 
Interest rate swapsOther assets$— $1 
Other non-current liabilities$34 $—