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BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Borrowings
 December 31,
(Dollars in millions)20232022
Borrowings consisted of:  
1.50% notes due May 2023 (1)
$— $800 
7.25% debentures due January 2024
198 198 
7.625% debentures due June 2024
43 43 
3.80% notes due March 2025
696 693 
1.875% notes due November 2026 (1)
550 530 
7.60% debentures due February 2027
196 196 
4.5% notes due December 2028
495 495 
5.75% notes due March 2033 (2)
496 — 
4.8% notes due September 2042
495 494 
4.65% notes due October 2044
878 877 
2024 Term Loan
300 — 
2027 Term Loan499 499 
Commercial paper and short-term borrowings
— 326 
Total borrowings
4,846 5,151 
Less: Borrowings due within one year
541 1,126 
Long-term borrowings
$4,305 $4,025 

(1)The carrying value of the euro-denominated 1.50% notes due May 2023 and 1.875% notes due November 2026 fluctuates with changes in the euro to U.S. dollar 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.
(2)Net proceeds from the bond issuance will be used to finance or refinance existing and future eligible green investment initiatives which contribute to Eastman's environmental sustainability strategy (a green bond).