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v3.23.1

DEBT - Narrative (Details) |  | 1 Months Ended | 12 Months Ended |
--- | --- | --- | --- | ---
Apr. 26, 2022 USD ($) | Apr. 26, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2023 USD ($)
Carrying Value |  |  |  |
Debt |  |  |  |
Debt, long-term and short-term |  |  | $ 3,200,000,000 | $ 3,400,000,000
Fair Value |  |  |  |
Debt |  |  |  |
Long-term and short-term debt |  |  | 2,700,000,000 | $ 3,000,000,000
2022 Credit Agreement | Revolver | Subsequent Event |  |  |  |
Debt |  |  |  |
Senior unsecured loan |  | $ 266,000,000 |  |
Interest rate (as a percent) |  | 6.19% |  |
Payment of term loan |  | $ 200,000,000 |  |
2022 Credit Agreement | Line of Credit | Revolver |  |  |  |
Debt |  |  |  |
Borrowing capacity, maximum | $ 1,000,000,000 |  |  |
Increase in maximum borrowing capacity | $ 500,000,000 |  |  |
Amended Credit Agreement |  |  |  |
Debt |  |  |  |
Maximum net leverage ratio | 4.0 |  |  |
Minimum interest coverage ratio | 2.5 |  |  |
Interest rate (as a percent) |  |  |  | 5.974%
Amount borrowed |  |  |  | $ 210,000,000,000
Amended Credit Agreement | Revolver |  |  |  |
Debt |  |  |  |
Borrowing capacity, maximum | $ 500,000,000 |  |  |
Amended Credit Agreement | Swingline loans |  |  |  |
Debt |  |  |  |
Borrowing capacity, maximum | 125,000,000 |  |  |
Amended Credit Agreement | Letters of credit |  |  |  |
Debt |  |  |  |
Borrowing capacity, maximum | 25,000,000 |  |  |
Outstanding and unused Letters of Credit |  |  |  | $ 0
Unsecured Term Loan |  |  |  |
Debt |  |  |  |
Senior unsecured loan | $ 500,000,000 |  |  |
Payment of term loan |  |  | $ 300,000,000 |
Unsecured Term Loan | SOFR Rate |  |  |  |
Debt |  |  |  |
Interest rate (as a percent) | 0.70% |  |  |

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- Definition Increase in maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References No definition available. + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a 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. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
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