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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
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):
| June 30, 2023 |  | December 31, 2022
| Carrying Value | Fair Value |  | Carrying Value | Fair Value |
4.200% senior notes, net of discount and financing fees, due 2024 | $ | 398 |  | 98 | % |  | $ | 398 |  | 99 | % |
3.400% senior notes, net of discount and financing fees, due 2026 | 398 |  | 94 | % |  | 398 |  | 94 | % |
3.950% senior notes, net of discount and financing fees, due 2029 | 447 |  | 93 | % |  | 446 |  | 90 | % |
3.875% senior notes, net of discount and financing fees, due 2030 | 298 |  | 91 | % |  | 298 |  | 89 | % |
7.000% senior notes, net of discount and financing fees, due 2036 | 368 |  | 109 | % |  | 368 |  | 107 | % |
4.300% senior notes, net of discount and financing fees, due 2047 | 589 |  | 82 | % |  | 589 |  | 78 | % |
4.400% senior notes, net of discount and financing fees, due 2048 | 391 |  | 83 | % |  | 390 |  | 78 | % |
Various finance leases, due through 2050 (a) | 145 |  | 100 | % |  | 131 |  | 100 | % |
Other | 1 |  | N/A |  | 2 |  | N/A |
Total long-term debt | 3,035 |  | N/A |  | 3,020 |  | N/A |
Less – current portion (a) | 31 |  | 100 | % |  | 28 |  | 100 | % |
Long-term debt, net of current portion | $ | 3,004 |  | N/A |  | $ | 2,992 |  | 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 June 30, 2023
| Senior Revolving Credit Facility | Receivables Securitization Facility
Facility size or borrowing limit | $ | 800 |  | $ | 280 |
Collateral capacity limitation on availability | N/A | — |
Outstanding borrowings | — |  | — |
Outstanding letters of credit | 4 |  | 1 |
Availability on facility | $ | 796 |  | $ | 279 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
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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 -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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