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BORROWINGS (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Long-term Borrowings |
| September 30, |  | December 31,
(Dollars in millions) | 2021 |  | 2020
Borrowings consisted of: |  |  |
3.5% notes due December 2021 | $ | 300 |  |  | $ | 299 |
3.6% notes due August 2022 | 746 |  |  | 744 |
1.50% notes due May 2023 (1) | 868 |  |  | 919 |
7 1/4% debentures due January 2024 | 198 |  |  | 198 |
7 5/8% debentures due June 2024 | 43 |  |  | 43 |
3.8% notes due March 2025 | 699 |  |  | 701 |
1.875% notes due November 2026 (1) | 576 |  |  | 609 |
7.60% debentures due February 2027 | 195 |  |  | 195 |
4.5% notes due December 2028 | 494 |  |  | 493 |
4.8% notes due September 2042 | 494 |  |  | 493 |
4.65% notes due October 2044 | 875 |  |  | 874 |
Commercial paper and short-term borrowings | — |  |  | 50 |
Total borrowings | 5,488 |  |  | 5,618 |
Borrowings due within one year | 1,046 |  |  | 349 |
Long-term borrowings | $ | 4,442 |  |  | $ | 5,269 |
(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.

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