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v3.25.1

BORROWINGS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
Long-term Borrowings |
| March 31, |  | December 31,
(Dollars in millions) | 2025 |  | 2024
Borrowings consisted of: |  |  |
3.80% notes due March 2025 | $ | — |  |  | $ | 450 |
1.875% notes due November 2026 (1) | 539 |  |  | 518 |
7.60% debentures due February 2027 | 196 |  |  | 196 |
4.5% notes due December 2028 | 497 |  |  | 496 |
5.0% notes due August 2029 | 742 |  |  | 495 |
5.75% notes due March 2033 | 496 |  |  | 496 |
5.625% notes due February 2034 | 743 |  |  | 743 |
4.8% notes due September 2042 | 495 |  |  | 495 |
4.65% notes due October 2044 | 878 |  |  | 878 |
2027 Term Loan | 150 |  |  | 250 |
Commercial paper and short-term borrowings | 285 |  |  | — |
Total borrowings | 5,021 |  |  | 5,017 |
Less: Borrowings due within one year | 285 |  |  | 450 |
Long-term borrowings | $ | 4,736 |  |  | $ | 4,567 |
(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.

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