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DEBT - Schedule of Debt (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Debt: |  |
Debt, gross | $ 7,616 | $ 7,178
Fair market value adjustments on medium-term notes | (38) | (34)
Debt issuance costs and original issue discounts | (35) | (30)
Total debt | 7,543 | 7,114
Short-term debt and current portion of long-term debt | (741) | (1,583)
Long-term debt | 6,802 | 5,531
Interest Rate Swap | Fair Value Hedging | Designated as Hedging Instrument |  |
Debt: |  |
Aggregate notional amount of interest rate swaps | $ 500 | 500
U.S. commercial paper |  |
Debt: |  |
Weighted Average Interest Rate | 5.60% |
Debt, gross | $ 860 | 572
Trade receivables financing program |  |
Debt: |  |
Weighted Average Interest Rate | 5.76% |
Debt, gross | $ 20 | 50
Unsecured U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 5.14% |
Debt, gross | $ 275 | 375
Unsecured medium-term note issued February 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 600
Unsecured medium-term note issued August 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 2.50% |
Debt, gross | $ 550 | 550
Unsecured medium-term note issued April 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 4.63% |
Debt, gross | $ 400 | 400
Unsecured medium-term note issued May 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 3.35% |
Debt, gross | $ 400 | 400
Unsecured medium-term note issued December 1995 |  |
Debt: |  |
Weighted Average Interest Rate | 6.95% |
Debt, gross | $ 150 | 150
Unsecured medium-term note issued November 2021 |  |
Debt: |  |
Weighted Average Interest Rate | 6.12% |
Debt, gross | $ 300 | 300
Unsecured medium-term note issued November 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 2.90% |
Debt, gross | $ 400 | 400
Unsecured medium-term note issued February 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.48% |
Debt, gross | $ 450 | 450
Unsecured medium-term note issued May 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.30% |
Debt, gross | $ 300 | 300
Unsecured medium-term note issued February 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.65% |
Debt, gross | $ 500 | 500
Unsecured medium-term note issued May 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.25% |
Debt, gross | $ 650 | 650
Unsecured medium-term note issued November 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 6.30% |
Debt, gross | $ 400 | 400
Unsecured medium-term note issued November 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 6.60% |
Debt, gross | $ 600 | 600
Unsecured medium-term note issued February 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.30% |
Debt, gross | $ 350 | 0
Unsecured medium-term note issued February 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.38% |
Debt, gross | $ 550 | 0
Unsecured foreign obligations |  |
Debt: |  |
Weighted Average Interest Rate | 2.88% |
Debt, gross | $ 50 | 50
Asset-backed U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 3.43% |
Debt, gross | $ 355 | 382
Finance lease obligations and other |  |
Debt: |  |
Debt, gross | $ 56 | $ 49

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