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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Details of the Company’s outstanding long-term debt, as well as the fair values, are as follows (in millions):
| December 31, 2022 |  | December 31, 2021
| Carrying Value | Fair Value |  | Carrying Value | Fair Value
4.200% senior notes, net of discount and financing fees, due 2024 | 398 |  | 99 | % |  | 397 |  | 107 | %
3.400% senior notes, net of discount and financing fees, due 2026 | 398 |  | 94 | % |  | 397 |  | 106 | %
3.950% senior notes, net of discount and financing fees, due 2029 | 446 |  | 90 | % |  | 446 |  | 110 | %
3.875% senior notes, net of discount and financing fees, due 2030 | 298 |  | 89 | % |  | 297 |  | 109 | %
7.000% senior notes, net of discount and financing fees, due 2036 | 368 |  | 107 | % |  | 368 |  | 141 | %
4.300% senior notes, net of discount and financing fees, due 2047 | 589 |  | 78 | % |  | 589 |  | 115 | %
4.400% senior notes, net of discount and financing fees, due 2048 | 390 |  | 78 | % |  | 390 |  | 118 | %
Various finance leases, due through 2050 (a) | 131 |  | 100 | % |  | 99 |  | 100 | %
Other | 2 |  | N/A |  | 2 |  | N/A
Total long-term debt | 3,020 |  | N/A |  | 2,985 |  | N/A
Less – current portion (a) | 28 |  | 100 | % |  | 25 |  | 100 | %
Long-term debt, net of current portion | $ | 2,992 |  | N/A |  | $ | 2,960 |  | N/A
(a) The Company determined that the book value of the above noted long-term debt instruments approximates fair value.
Schedule of Line of Credit Facilities | The following table shows how the Company utilized its primary sources of liquidity (in millions):
|  | Balance at December 31, 2022
|  | Senior Revolving Credit Facility | Receivables Securitization Facility
Facility size |  | $ | 800 |  | $ | 280 |
Collateral capacity limitation on availability |  | N/A | — |
Outstanding borrowings |  | — |  | — |
Outstanding letters of credit |  | 4 |  | 1 |
Availability on facility |  | $ | 796 |  | $ | 279 |
Schedule of Maturities of Long-term Debt | The aggregate maturities for all outstanding long-term debt borrowings for each of the five years following December 31, 2022 and thereafter are presented in the table below (in millions). The maturities below are the aggregate par amounts of the outstanding senior notes and finance lease liabilities:
Period | Maturities
2023 | $ | 28 |
2024 | 420 |
2025 | 13 |
2026 | 408 |
2027 | 4 |
2028 and beyond | 2,184 |
Total | $ | 3,057 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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