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DEBT (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Total debt, including long-term, current maturities and debt issuance costs and discounts – net, consisted of the following (in millions of dollars):
As of December 31,
 20242023
Carrying ValueFair Value Carrying ValueFair Value
4.60% senior notes due 2045
$1,000 $894 $1,000 $967 
1.85% senior notes due 2025
— — 500 483 
4.45% senior notes due 2034
500 477 — — 
3.75% senior notes due 2046
400 332 400 336 
4.20% senior notes due 2047
400 312 400 361 
Debt issuance costs – net of amortization and other(21)(21)(34)(34)
Long-term debt2,279 1,994 2,266 2,113 
1.85% senior notes due 2025
500 498 — — 
Japanese yen term loan— — 32 32 
Other(1)(1)2 2 
Current maturities$499 $497 $34 $34 
Total debt$2,778 $2,491 $2,300 $2,147 
Schedule of Maturities of Long-term Debt
The scheduled aggregate principal payments required on the Company's indebtedness, based on the maturity dates defined within the debt arrangements, for the succeeding five years, excluding debt issuance costs and the impact of derivatives, are due as follows (in millions of dollars):
YearPayment Amount
2025$502 
20261 
2027— 
2028— 
2029— 
Thereafter2,300 
Total$2,803