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DEBT (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Total debt, including long-term and current maturities, consisted of the following (in millions of dollars):

			As of
			March 31, 2024												December 31, 2023
			Carrying Value						Fair Value						Carrying Value						Fair Value
4.60% senior notes due 2045			$	1,000					$	934					$	1,000					$	967
1.85% senior notes due 2025			—						—						500						483
3.75% senior notes due 2046			400						328						400						336
4.20% senior notes due 2047			400						349						400						361
Debt issuance costs – net of amortization and other			(17)						(17)						(34)						(34)
Long-term debt			1,783						1,594						2,266						2,113
1.85% senior notes due 2025			500						485						—						—
Japanese yen term loan			15						15						32						32
Other			(14)						(14)						2						2
Current maturities			501						486						34						34
Total debt			$	2,284					$	2,080					$	2,300					$	2,147

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- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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