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FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes our long-term debt at December 31, 2024 and 2023:

Millions of dollars			2024			2023
Senior Note - 4.00%, maturing 2024			$	—		$	300
Term Loan - SOFR + 85bps, maturing 2024			—			500
Term Loan - SOFR +125bps, maturing 2025			1,500			1,500
Senior Note - 3.70%, maturing 2025			350			350
Senior Note - 1.25%, maturing 2026(1)			516			549
Senior Note - 1.10%, maturing 2027(1)			619			659
Senior Note - 0.50%, maturing 2028(1)			516			550
Senior Note - 4.75%, maturing 2029			696			695
Senior Note - 2.40%, maturing 2031			300			300
Senior Note - 4.70%, maturing 2032			298			298
Senior Note - 5.50%, maturing 2033			300			300
Senior Note - 5.75%, maturing 2034			299
Senior Note - 5.15%, maturing 2043			249			249
Senior Note - 4.50%, maturing 2046			497			497
Senior Note - 4.60%, maturing 2050			493			493
Other, net			(25)			(26)
			$	6,608		$	7,214
Less current maturities			1,850			800
Total long-term debt			$	4,758		$	6,414

(1)Euro denominated debt reflects impact of currency

Schedule of Maturities of Long-term Debt

The following table summarizes the contractual maturities of our long-term debt (net of discounts or premiums) , including current maturities, at December 31, 2024:

Millions of dollars
2025			$	1,850
2026			516
2027			618
2028			515
2029			694
Thereafter			2,415
Long-term debt, including current maturities			$	6,608

Schedule of Notes Payable

The following table summarizes the carrying value of notes payable at December 31, 2024 and 2023:

Millions of dollars						2024						2023
Short-term borrowings due to banks						$	18					$	17
Total notes payable						$	18					$	17

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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