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BORROWINGS (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Long-term Borrowings
 September 30,December 31,
(Dollars in millions)20202019
Borrowings consisted of:
4.5% notes due January 2021 (1)
$185 $185 
3.5% notes due December 2021298 298 
3.6% notes due August 2022743 741 
1.50% notes due May 2023 (2)
876 840 
7 1/4% debentures due January 2024198 198 
7 5/8% debentures due June 202443 43 
3.8% notes due March 2025701 695 
1.875% notes due November 2026 (2)
581 556 
7.60% debentures due February 2027195 195 
4.5% notes due December 2028493 493 
4.8% notes due September 2042493 493 
4.65% notes due October 2044874 874 
Commercial paper and short-term borrowings185 171 
Total borrowings5,865 5,782 
Borrowings due within one year370 171 
Long-term borrowings$5,495 $5,611 
(1)In October 2020, the Company repaid the 4.5% notes due January 2021 ($185 million principal) using available cash.
(2)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.