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Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Instrument [Line Items]

Components of Debt

Debt consisted of the following at December 31:

(DOLLARS IN MILLIONS)			Effective Interest Rate						2022						2021
2022 Notes(3)			0.69		%				$	—					$	300
2023 Notes(1)			3.30		%				300						300
2024 Euro Notes(1)			1.88		%				532						565
2025 Notes(3)			1.22		%				1,000						1,001
2026 Euro Notes(1)			1.93		%				845						900
2027 Notes(3)			1.56		%				1,215						1,218
2028 Notes(1)			4.57		%				398						397
2030 Notes(3)			2.21		%				1,510						1,511
2040 Notes(3)			3.04		%				774						775
2047 Notes(1)			4.44		%				495						494
2048 Notes(1)			5.12		%				787						786
2050 Notes(3)			3.21		%				1,571						1,572
2024 Term Loan Facility(4)			3.65		%				625						625
2026 Term Loan Facility(4)			4.92		%				625						625
Commercial Paper(5)									187						324
Amended Revolving Credit facility(6)									100						—
Bank overdrafts and other									6						7
Total debt									$	10,970					$	11,400
Less: Short term borrowings(2)									(597)						(632)
Total Long-term debt									$	10,373					$	10,768

_______________________

(1)Amount is net of unamortized discount and debt issuance costs.

(2)Includes bank borrowings, overdrafts, current portion of long-term debt and commercial paper.

(3)Assumed by the Company as part of the N&B Merger. Amount is net of unamortized premium and debt issuance costs.

(4)Assumed by the Company as part of the N&B Merger and recorded at fair value.

(5)The effective interest rate of commercial paper issuances fluctuate as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Additionally, the effective interest rate of commercial paper is not meaningful as issuances do not materially differ from short-term interest rates. Proceeds from the issuance of commercial paper include $225 million of proceeds with original maturities greater than three months.

(6)The interest rate on the Amended Revolving Credit Facility is, at the applicable borrower's option, a per annum rate equal to either (x) an eurocurrency rate plus an applicable margin varying from 1.000% to 1.625% or (y) a base rate plus an applicable margin varying from 0.000% to 0.625%, in each case depending on the public debt ratings for non-credit enhanced long-term senior unsecured debt issued by the Company.

Debt Instrument Redemption

However, no make-whole premium will be paid for redemptions of each note on or after the following date:

Note						Redemption Date
2023 Notes						February 1, 2023
2024 Euro Notes						December 14, 2023
2026 Euro Notes						June 25, 2026
2028 Notes						June 26, 2028
2047 Notes						December 1, 2046
2048 Notes						March 26, 2048

Schedule of Maturities of Long-term Debt

The following table shows the contractual maturities of the Company's long-term debt as of December 31, 2022.

			Payments Due by Period
(DOLLARS IN MILLIONS)			Total						Less than 1 Year						1-3 Years						3-5 Years						More than 5 Years
Total Outstanding Borrowings			$	10,580					$	300					$	2,156					$	2,674					$	5,450

Nutrition & Biosciences, Inc [Member]

Debt Instrument [Line Items]

Debt Instrument Redemption

The redemption dates of each of the N&B Senior Notes are provided in the table below:

Notes			Redemption Date
2025 Notes			September 1, 2025
2027 Notes			August 15, 2027
2030 Notes			August 1, 2030
2040 Notes			May 15, 2040
2050 Notes			June 1, 2050

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