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BORROWINGS (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of Long-term Borrowings |
| December 31,
(Dollars in millions) | 2018 |  | 2017
Borrowings consisted of: |  |  |
5.5% notes due November 2019 | $ | — |  |  | $ | 250 |
2.7% notes due January 2020 | 250 |  |  | 797 |
4.5% notes due January 2021 | 185 |  |  | 185 |
3.5% notes due December 2021 | 297 |  |  | — |
3.6% notes due August 2022 | 739 |  |  | 738 |
1.50% notes due May 2023 (1) | 855 |  |  | 895 |
7 1/4% debentures due January 2024 | 197 |  |  | 197 |
7 5/8% debentures due June 2024 | 43 |  |  | 43 |
3.8% notes due March 2025 | 691 |  |  | 690 |
1.875% notes due November 2026 (1) | 566 |  |  | 592 |
7.60% debentures due February 2027 | 195 |  |  | 195 |
4.5% notes due December 2028 | 492 |  |  | — |
4.8% notes due September 2042 | 493 |  |  | 493 |
4.65% notes due October 2044 | 872 |  |  | 871 |
Commercial paper and short-term borrowings | 243 |  |  | 389 |
Credit facilities borrowings | 50 |  |  | 200 |
Capital leases and other | — |  |  | 5 |
Total borrowings | 6,168 |  |  | 6,540 |
Borrowings due within one year | 243 |  |  | 393 |
Long-term borrowings | $ | 5,925 |  |  | $ | 6,147 |
(1) | The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 will fluctuate with changes in the euro exchange rate. The carrying value of these euro-denominated borrowings have been designated as non-derivative net investment hedges of a portion of the Company's net investments in euro functional-currency denominated subsidiaries to offset foreign currency fluctuations.
Schedule of Fair Value of Borrowings | Fair Value of Borrowings Eastman has classified its total borrowings at December 31, 2018 and 2017 under the fair value hierarchy as defined in the accounting policies in Note 1, "Significant Accounting Policies". The fair value for fixed-rate debt securities is based on quoted market prices for the same or similar debt instruments and is classified as Level 2. The fair value for the Company's other borrowings primarily under the 2021 Term Loan, commercial paper, A/R Facility, and receivables facility equals the carrying value and is classified as Level 2. At December 31, 2018 and 2017, the fair value of total borrowings was $6,216 million and $6,980 million, respectively. The Company had no borrowings classified as Level 1 or Level 3 as of December 31, 2018 and 2017.

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