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DEBT - Schedule of Debt (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022
--- | --- | ---
Debt: |  |
Debt, gross | $ 6,550,000,000 | $ 6,370,000,000
Debt issuance costs and original issue discounts | (25,000,000) | (18,000,000)
Total debt | 6,525,000,000 | 6,352,000,000
Short-term debt and current portion of long-term debt | (1,330,000,000) | (1,349,000,000)
Long-term debt | 5,195,000,000 | 5,003,000,000
Impact on fair value hedging instruments | 47,000,000 | 47,000,000
Interest Rate Swap | Fair Value Hedging | Designated as Hedging Instrument |  |
Debt: |  |
Aggregate notional amount of interest rate swaps | $ 500,000,000 | 500,000,000
U.S. commercial paper |  |
Debt: |  |
Weighted Average Interest Rate | 5.50% |
Debt, gross | $ 646,000,000 | 672,000,000
Trade receivables financing program |  |
Debt: |  |
Weighted Average Interest Rate | 6.02% |
Debt, gross | $ 50,000,000 | 50,000,000
Global revolving credit facility |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 0
Unsecured U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 4.16% |
Debt, gross | $ 375,000,000 | 375,000,000
Unsecured medium-term note issued February 2018 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 450,000,000
Unsecured medium-term note issued June 2018 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 450,000,000
Unsecured medium-term note issued October 2018 |  |
Debt: |  |
Weighted Average Interest Rate | 3.88% |
Debt, gross | $ 300,000,000 | 300,000,000
Unsecured medium-term note issued February 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 3.65% |
Debt, gross | $ 600,000,000 | 600,000,000
Unsecured medium-term note issued August 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 2.50% |
Debt, gross | $ 550,000,000 | 550,000,000
Unsecured medium-term note issued April 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 4.63% |
Debt, gross | $ 400,000,000 | 400,000,000
Unsecured medium-term note issued May 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 3.35% |
Debt, gross | $ 400,000,000 | 400,000,000
Unsecured medium-term note issued December 1995 |  |
Debt: |  |
Weighted Average Interest Rate | 6.95% |
Debt, gross | $ 150,000,000 | 150,000,000
Unsecured medium-term note issued November 2021 |  |
Debt: |  |
Weighted Average Interest Rate | 6.03% |
Debt, gross | $ 270,000,000 | 270,000,000
Unsecured medium-term note issued November 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 2.90% |
Debt, gross | $ 400,000,000 | 400,000,000
Unsecured medium-term note issued February 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.29% |
Debt, gross | $ 433,000,000 | 434,000,000
Unsecured medium-term note issued May 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.30% |
Debt, gross | $ 300,000,000 | 300,000,000
Unsecured medium-term note issued February 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.65% |
Debt, gross | $ 500,000,000 | 0
Unsecured medium-term note issued May 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.25% |
Debt, gross | $ 650,000,000 | 0
Unsecured foreign obligations |  |
Debt: |  |
Weighted Average Interest Rate | 2.88% |
Debt, gross | $ 50,000,000 | 50,000,000
Asset-backed U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 3.22% |
Debt, gross | $ 432,000,000 | 477,000,000
Finance lease obligations and other |  |
Debt: |  |
Debt, gross | $ 44,000,000 | $ 42,000,000

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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-4 + Details
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