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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Summary of Long-Term Debt | Long-term debt consisted of the following:
|  |  |  |  |  | December 31,
| Effective Interest Rate |  |  |  |  | 2022 |  | 2021
In millions |  | Face Value |  |  | Book Value |  | Fair Value 1 |  | Book Value |  | Fair Value 1
Restated Credit Agreement: |  |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility | 3.5 | % |  | N/A |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Senior Notes: |  |  |  |  |  |  |  |  |  |  |  |
4.375% Senior Notes, due 2023 | 4.5 | % |  | $ | 250 |  |  |  | 250 |  |  | 248 |  |  | 250 |  |  | 260 |
4.15% Senior Notes, due 2024 | 4.6 | % |  | $ | 725 |  |  |  | 723 |  |  | 714 |  |  | 747 |  |  | 796 |
3.20% Senior Notes, due 2025 | 3.4 | % |  | $ | 500 |  |  |  | 498 |  |  | 471 |  |  | 497 |  |  | 523 |
3.45% Senior Notes, due 2026 | 3.5 | % |  | $ | 750 |  |  |  | 749 |  |  | 699 |  |  | 749 |  |  | 795 |
1.25% Senior Notes (EUR), due 2027 | 1.5 | % |  | € | 500 |  |  |  | 529 |  |  | 455 |  |  | 560 |  |  | 574 |
4.70% Senior Notes, due 2028 | 5.0 | % |  | $ | 1,250 |  |  |  | 1,244 |  |  | 1,201 |  |  | 1,243 |  |  | 1,423 |
Other Borrowings |  |  |  |  |  | 9 |  |  | 13 |  |  | 12 |  |  | 12 |
Total |  |  |  |  |  | 4,002 |  |  | 3,801 |  |  | 4,058 |  |  | 4,383 |
Less: current portion |  |  |  |  |  | (251) |  |  | (249) |  |  | (2) |  |  | (2) |
Long-term portion |  |  |  |  |  | $ | 3,751 |  |  | $ | 3,552 |  |  | $ | 4,056 |  |  | $ | 4,381 |
1. See Note 17 for information on the fair value measurement of the Company's long-term debt. As of December 31, 2022, the annual repayment requirements for debt obligations are as follows:
In millions |
2023 | $ | 251 |
2024 | 737 |
2025 | 500 |
2026 | 750 |
2027 | 535 |
Thereafter | 1,250 |
Total | $ | 4,023 |
Summary of Line of Credit Facilities | The following table presents availability under the Restated Credit Agreement as of December 31, 2022:
(In millions) |  | Revolving Credit Facility
Maximum Revolving Credit Facility Availability |  | $ | 1,500 |
Delayed Draw Term Loan |  | 250 |
Outstanding Borrowings |  | — |
Letters of Credit Under Credit Agreement |  | (3) |
Current Availability |  | $ | 1,747 |

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