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DEBT - Schedule of Debt (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Debt: |  |
Debt, gross | $ 7,841 | $ 7,178
Fair market value of adjustment on medium term notes | (25) | (34)
Debt issuance costs and original issue discounts | (37) | (30)
Total debt | 7,779 | 7,114
Short-term debt and current portion of long-term debt | (1,120) | (1,583)
Long-term debt | 6,659 | 5,531
Fair Value Hedging | Designated as Hedging Instrument | Interest Rate Swap |  |
Debt: |  |
Aggregate notional amount of interest rate swaps | $ 500 | $ 500
Trade receivables financing program |  |
Debt: |  |
Weighted Average Interest Rate | 5.06% | 5.87%
Debt, gross | $ 20 | $ 50
U.S. commercial paper |  |
Debt: |  |
Weighted Average Interest Rate | 4.78% | 5.68%
Debt, gross |  | $ 572
Unsecured medium-term note issued February 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% | 3.65%
Debt, gross | $ 0 | $ 600
Unsecured medium-term note issued August 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% | 2.50%
Debt, gross | $ 0 | $ 550
Unsecured medium-term note issued April 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 4.63% | 4.63%
Debt, gross | $ 400 | $ 400
Unsecured medium-term note issued May 2020 |  |
Debt: |  |
Weighted Average Interest Rate | 3.35% | 3.35%
Debt, gross | $ 400 | $ 400
Unsecured medium-term note issued December 1995 |  |
Debt: |  |
Weighted Average Interest Rate | 6.95% | 6.95%
Debt, gross | $ 150 | $ 150
Unsecured medium-term note issued November 2021 |  |
Debt: |  |
Weighted Average Interest Rate | 5.53% | 6.15%
Debt, gross | $ 300 | $ 300
Unsecured medium-term note issued November 2019 |  |
Debt: |  |
Weighted Average Interest Rate | 2.90% | 2.90%
Debt, gross | $ 400 | $ 400
Unsecured medium-term note issued February 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.27% | 4.50%
Debt, gross | $ 450 | $ 450
Unsecured medium-term note issued May 2022 |  |
Debt: |  |
Weighted Average Interest Rate | 4.30% | 4.30%
Debt, gross | $ 300 | $ 300
Unsecured medium-term note issued February 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.30% | 0.00%
Debt, gross | $ 350 | $ 0
Unsecured medium-term note issued February 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.65% | 5.65%
Debt, gross | $ 500 | $ 500
Unsecured medium-term note issued May 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 5.25% | 5.25%
Debt, gross | $ 650 | $ 650
Unsecured medium-term note issued November 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 6.30% | 6.30%
Debt, gross | $ 400 | $ 400
Unsecured medium-term note issued February 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.38% | 0.00%
Debt, gross | $ 550 | $ 0
Unsecured medium-term note issued May 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 5.50% | 0.00%
Debt, gross | $ 300 | $ 0
Unsecured medium-term note issued August 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 4.95% | 0.00%
Debt, gross | $ 300 | $ 0
Unsecured medium-term note issued November 2024 |  |
Debt: |  |
Weighted Average Interest Rate | 4.90% | 0.00%
Debt, gross | $ 300 | $ 0
Unsecured medium-term note issued November 2023 |  |
Debt: |  |
Weighted Average Interest Rate | 6.60% | 6.60%
Debt, gross | $ 600 | $ 600
Unsecured foreign obligations |  |
Debt: |  |
Weighted Average Interest Rate | 0.00% | 2.88%
Debt, gross | $ 0 | $ 50
Unsecured U.S. obligations |  |
Debt: |  |
Weighted Average Interest Rate | 5.14% | 4.13%
Debt, gross | $ 275 | $ 375
Asset-backed US obligations |  |
Debt: |  |
Weighted Average Interest Rate | 3.59% | 3.40%
Debt, gross | $ 252 | $ 382
Finance lease obligations and other |  |
Debt: |  |
Debt, gross | $ 76 | $ 49

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