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BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-term Borrowings

			March 31,						December 31,
(Dollars in millions)			2024						2023
Borrowings consisted of:
7.25% debentures due January 2024			$	—					$	198
7.625% debentures due June 2024			43						43
3.80% notes due March 2025			697						696
1.875% notes due November 2026 (1)			538						550
7.60% debentures due February 2027			196						196
4.5% notes due December 2028			496						495
5.75% notes due March 2033 (2)			496						496
5.625% notes due February 2034			742						—
4.8% notes due September 2042			495						495
4.65% notes due October 2044			878						878
2024 Term Loan			—						300
2027 Term Loan			499						499
Total borrowings			5,080						4,846
Less: Borrowings due within one year			740						541
Long-term borrowings			$	4,340					$	4,305

(1)The carrying value of the euro-denominated 1.875% notes due November 2026 fluctuates with changes in the euro to U.S. dollar exchange rate. The carrying value of this euro-denominated borrowing has been designated as a non-derivative net investment hedge 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 were used to finance or refinance eligible green investment initiatives, which contribute to Eastman's environmental sustainability strategy (a green bond).

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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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