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v3.23.1

Organization, Description of Business and Basis of Presentation (Tables) | 3 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Accounts Receivable Securitization and Factoring Programs | Information related to the trade receivables sold was as follows:
|  |  |  | Three Months Ended March 31,
(In millions) |  |  |  |  |  | 2023 |  | 2022
Securitization programs |  |  |  |  |  |  |  |
Receivables sold in period |  |  |  |  |  | $ | 440 |  |  | $ | 447 |
Cash consideration |  |  |  |  |  | 440 |  |  | 447 |
Factoring programs |  |  |  |  |  |  |  |
Receivables sold in period |  |  |  |  |  | 24 |  |  | 21 |
Cash consideration |  |  |  |  |  | 24 |  |  | 21 |
Summary of Carrying Value and Valuation of Financial Instruments Within the Fair-Value Hierarchy | The fair value hierarchy of cash equivalents was as follows:
(In millions) |  | Carrying Value |  | Fair Value |  | Level 1
March 31, 2023 |  | $ | 238 |  |  | $ | 238 |  |  | $ | 238 |
December 31, 2022 |  | 402 |  |  | 402 |  |  | 402 |
The fair value of our debt and classification in the fair value hierarchy was as follows:
(In millions) |  | Fair Value |  | Level 1 |  | Level 2
March 31, 2023 |  | $ | 2,616 |  |  | $ | 395 |  |  | $ | 2,221 |
December 31, 2022 |  | 2,601 |  |  | 392 |  |  | 2,209 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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