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LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following:
| Effective Interest Rate |  | Face Value |  | June 30, 2024 |  | December 31, 2023
In millions |  |  | Book Value |  | Fair Value 1 |  | Book Value |  | Fair Value 1
2024 Credit Agreement: |  |  |  |  |  |  |  |  |  |  |
Term Loan | 6.7 | % |  | $ | 225 |  |  | $ | 224 |  |  | $ | 225 |  |  | $ | — |  |  | $ | — |
2022 Credit Agreement: |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility | 8.0 | % |  | N/A |  | — |  |  | — |  |  | — |  |  | — |
Delayed Draw Term Loan | 6.7 | % |  | $ | 250 |  |  | 250 |  |  | 250 |  |  | 250 |  |  | 250 |
Senior Notes: |  |  |  |  |  |  |  |  |  |  |
4.15% Senior Notes, due 2024 | — | % |  | $ | — |  |  | — |  |  | — |  |  | 725 |  |  | 722 |
3.20% Senior Notes, due 2025 | 3.4 | % |  | $ | 500 |  |  | 499 |  |  | 488 |  |  | 499 |  |  | 484 |
3.45% Senior Notes, due 2026 | 3.5 | % |  | $ | 750 |  |  | 750 |  |  | 717 |  |  | 749 |  |  | 718 |
1.25% Senior Notes (EUR), due 2027 | 1.5 | % |  | € | 500 |  |  | 532 |  |  | 497 |  |  | 547 |  |  | 509 |
4.70% Senior Notes, due 2028 | 4.8 | % |  | $ | 1,250 |  |  | 1,245 |  |  | 1,224 |  |  | 1,245 |  |  | 1,237 |
5.611% Senior Notes, due 2034 | 5.7 | % |  | $ | 500 |  |  | 495 |  |  | 503 |  |  | — |  |  | — |
Other Borrowings |  |  |  |  | 2 |  |  | 4 |  |  | 54 |  |  | 57 |
Total |  |  |  |  | 3,997 |  |  | 3,908 |  |  | 4,069 |  |  | 3,977 |
Less: current portion |  |  |  |  | (503) |  |  | (492) |  |  | (781) |  |  | (779) |
Long-term portion |  |  |  |  | $ | 3,494 |  |  | $ | 3,416 |  |  | $ | 3,288 |  |  | $ | 3,198 |
1. See Note 13 for information on the fair value measurement of the Company's long-term debt.
Schedule of Line of Credit Facilities | The following table presents availability under the 2022 Credit Agreement at June 30, 2024:
In millions |  | Revolving Credit Facility |  | Delayed Draw Term Loan |  | Total
Maximum Availability |  | $ | 1,500 |  |  | $ | 250 |  |  | $ | 1,750 |
Outstanding Borrowings |  | — |  |  | (250) |  |  | (250) |
Letters of Credit Under Credit Agreement |  | — |  |  | — |  |  | — |
Current Availability |  | $ | 1,500 |  |  | $ | — |  |  | $ | 1,500 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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