BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2019



	September 30,		December 31,
(Dollars in millions)	2019		2018
Borrowings consisted of:
2.7% notes due January 2020	$	250	$	250
4.5% notes due January 2021	185		185
3.5% notes due December 2021	298		297
3.6% notes due August 2022	740		739
1.50% notes due May 2023 ⁽¹⁾	815		855
7 1/4% debentures due January 2024	198		197
7 5/8% debentures due June 2024	43		43
3.8% notes due March 2025	696		691
1.875% notes due November 2026 ⁽¹⁾	539		566
7.60% debentures due February 2027	195		195
4.5% notes due December 2028	492		492
4.8% notes due September 2042	493		493
4.65% notes due October 2044	873		872
Commercial paper and short-term borrowings	392		243
Credit facilities borrowings	—		50
Total borrowings	6,209		6,168
Borrowings due within one year	642		243
Long-term borrowings	$	5,567	$	5,925

⁽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.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details