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v3.24.3

DEBT - Schedule of Debt (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Dec. 31, 2023
--- | --- | ---
Debt: |  |
Debt, gross | $ 7,663 | $ 7,178
Fair market value adjustments on medium-term notes | (22) | (34)
Debt issuance costs and original issue discounts | (37) | (30)
Total debt | 7,603 | 7,114
Short-term debt and current portion of long-term debt | (975) | (1,583)
Long-term debt | 6,628 | 5,531
Interest Rate Swap | Fair Value Hedging | Designated as Hedging Instrument |  |
Debt: |  |
Aggregate notional amount of interest rate swaps | $ 500 | 500
Trade receivables financing program |  |
Debt: |  |
Weighted Average Interest Rate | 5.80% |
Debt, gross | $ 20 | 50
U.S. commercial paper |  |
Debt: |  |
Weighted Average Interest Rate | 5.28% |
Debt, gross | $ 977 | 572
Unsecured medium-term note issued February and August 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 1,150
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 | 5.96% |
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 | 4.43% |
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 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.30% |
Debt, gross | $ 350 | 0
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 February 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.38% |
Debt, gross | $ 550 | 0
Unsecured medium-term note issued May 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.50% |
Debt, gross | $ 300 | 0
Unsecured medium-term note issued August 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 4.95% |
Debt, gross | $ 300 | 0
Unsecured medium-term note issued November 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 6.60% |
Debt, gross | $ 600 | 600
Unsecured foreign obligations |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% |
Debt, gross | $ 0 | 50
Unsecured U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 5.14% |
Debt, gross | $ 275 | 375
Asset-backed U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 3.49% |
Debt, gross | $ 279 | 382
Finance lease obligations and other |  |
Debt: |  |
Debt, gross | $ 62 | $ 49

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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/1943274/2147478546/942-210-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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