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Financing Arrangements (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of debt
Presented below are our debt carrying amounts, net of related discounts, premiums and debt issuance costs and fair values as of December 31, 2023 and 2022:
20232022
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
2.900% senior notes due June 1, 2030
$596 $536 $595 $510 
3.200% senior notes due October 1, 2026
499 479 498 470 
3.900% senior notes due June 1, 2050
391 300 390 293 
6.625% senior notes due April 15, 2037
253 275 253 256 
Term loan credit agreement due December 16, 2024— — 200 200 
Revolving credit agreement— — — — 
Other long-term borrowings
Total long-term debt1,740 1,591 1,940 1,733 
Commercial paper327 327 390 390 
Other short-term borrowings121 121 153 153 
Total short-term borrowings448 448 543 543 
Total debt$2,188 $2,039 $2,483 $2,276