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LONG-TERM DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Summary of Long-Term Debt | Long-term debt consisted of the following:
|  |  |  |  |  | December 31,
| Effective Interest Rate |  |  |  |  | 2023 |  | 2022
In millions |  | Face Value |  |  | Book Value |  | Fair Value 1 |  | Book Value |  | Fair Value 1
Restated Credit Agreement: |  |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility | 7.6 | % |  | N/A |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Delayed Draw Term Loan | 6.8 | % |  | $ | 250 |  |  |  | 250 |  |  | 250 |  |  | — |  |  | — |
Senior Notes: |  |  |  |  |  |  |  |  |  |  |  |
4.375% Senior Notes, due 2023 | — |  |  | $ | — |  |  |  | — |  |  | — |  |  | 250 |  |  | 248 |
4.15% Senior Notes, due 2024 | 4.4 | % |  | $ | 725 |  |  |  | 725 |  |  | 722 |  |  | 723 |  |  | 714 |
3.20% Senior Notes, due 2025 | 3.4 | % |  | $ | 500 |  |  |  | 499 |  |  | 484 |  |  | 498 |  |  | 471 |
3.45% Senior Notes, due 2026 | 3.5 | % |  | $ | 750 |  |  |  | 749 |  |  | 718 |  |  | 749 |  |  | 699 |
1.25% Senior Notes (EUR), due 2027 | 1.5 | % |  | € | 500 |  |  |  | 547 |  |  | 509 |  |  | 529 |  |  | 455 |
4.70% Senior Notes, due 2028 | 4.8 | % |  | $ | 1,250 |  |  |  | 1,245 |  |  | 1,237 |  |  | 1,244 |  |  | 1,201 |
Other Borrowings |  |  |  |  |  | 54 |  |  | 57 |  |  | 9 |  |  | 13 |
Total |  |  |  |  |  | 4,069 |  |  | 3,977 |  |  | 4,002 |  |  | 3,801 |
Less: current portion |  |  |  |  |  | (781) |  |  | (779) |  |  | (251) |  |  | (249) |
Long-term portion |  |  |  |  |  | $ | 3,288 |  |  | $ | 3,198 |  |  | $ | 3,751 |  |  | $ | 3,552 |
1. See Note 17 for information on the fair value measurement of the Company's long-term debt. As of December 31, 2023, the annual repayment requirements for debt obligations are as follows:
In millions |
2024 | $ | 781 |
2025 | 500 |
2026 | 750 |
2027 | 803 |
2028 | 1,250 |
Total | $ | 4,084 |
Summary of Line of Credit Facilities | The following table presents availability under the Restated Credit Agreement as of December 31, 2023:
In millions |  | Revolving Credit Facility |  | Delayed Draw Term Loan |  | Total
Maximum Availability |  | $ | 1,500 |  |  | $ | 250 |  |  | $ | 1,750 |
Outstanding Borrowings |  | — |  |  | (250) |  |  | (250) |
Current Availability |  | $ | 1,500 |  |  | $ | — |  |  | $ | 1,500 |

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