Annual report pursuant to Section 13 and 15(d)

DEBT (Details)

v3.22.4
DEBT (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Aug. 17, 2022
USD ($)
Aug. 18, 2021
USD ($)
Dec. 31, 2022
USD ($)
Rate
Dec. 31, 2022
USD ($)
Rate
Dec. 31, 2021
USD ($)
Rate
Dec. 31, 2020
USD ($)
Jul. 13, 2022
USD ($)
Debt Instruments              
Loans payable     $ 210 $ 210 $ 208    
Weighted average interest rate (as a percent) | Rate     4.02% 4.02% 2.71%    
Commercial paper     $ 2,574 $ 2,574 $ 313    
Line of Credit Facility, Maximum Borrowing Capacity     $ 4,000 $ 4,000      
Leverage ratio     0.65 0.65      
Line of credit facility, remaining borrowing capacity     $ 1,400 $ 1,400      
Unsecured Debt           $ 500  
Other Long-term Debt     121 121 110    
Unamortized discount     (64) (64) (68)    
Liabilities, Fair Value Adjustment       (122) 34    
Finance Lease, Liability     113 113 89    
Total long-term debt     5,071 5,071 3,638    
Less: Current maturities of long-term debt     573 573 59    
Long-term debt     4,498 4,498 3,579    
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security       1,550 73 73  
Principal payments required on long-term debt              
2023     573 573      
2024     44 44      
2025     2,061 2,061      
2026     56 56      
2027     64 64      
Total interest incurred       204 113 102  
Interest capitalized       5 2 $ 2  
Short-term Debt [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity     4,000 4,000      
Fair value              
Fair value of total debt     7,400 7,400 4,461    
Carrying value of total debt     7,855 $ 7,855 4,159    
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate              
Principal payments required on long-term debt              
Debt Instrument, Description of Variable Rate Basis       SOFR      
EUROPE              
Debt Instruments              
Commercial paper     107 $ 107 113    
UNITED STATES              
Debt Instruments              
Commercial paper     2,500 2,500 200    
Senior Notes, 3.65%, due 2023              
Debt Instruments              
Unsecured Debt     $ 500 $ 500 500    
Debt instrument interest rate (as a percent) | Rate     3.65% 3.65%      
Term Loan Due 2025              
Debt Instruments              
Unsecured Debt     $ 1,550 $ 1,550     $ 2,000
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security     450        
Senior Notes 0.75 Percent, Due 2025              
Debt Instruments              
Unsecured Debt     $ 500 $ 500 500    
Debt instrument interest rate (as a percent) | Rate     0.75% 0.75%      
Debentures, 6.75%, due 2027              
Debt Instruments              
Unsecured Debt     $ 58 $ 58 58    
Debt instrument interest rate (as a percent) | Rate     6.75% 6.75%      
Debentures, 7.125%, due 2028              
Debt Instruments              
Unsecured Debt     $ 250 $ 250 250    
Debt instrument interest rate (as a percent) | Rate     7.125% 7.125%      
Senior Notes 1.50 Percent, Due 2030              
Debt Instruments              
Unsecured Debt     $ 850 $ 850 850    
Debt instrument interest rate (as a percent) | Rate     1.50% 1.50%      
Senior Notes 4.875 Percent, Due 2043              
Debt Instruments              
Unsecured Debt     $ 500 $ 500 500    
Debt instrument interest rate (as a percent) | Rate     4.875% 4.875%      
Senior Notes 2.60 Percent, Due 2050              
Debt Instruments              
Unsecured Debt     $ 650 $ 650 650    
Debt instrument interest rate (as a percent) | Rate     2.60% 2.60%      
Debentures, 5.65%, due 2098 (effective interest rate 7.48%)              
Debt Instruments              
Unsecured Debt     $ 165 $ 165 $ 165    
Effective interest rate (as a percent) | Rate     7.48% 7.48%      
Debt instrument interest rate (as a percent) | Rate     5.65% 5.65%      
Filtration Facilities              
Debt Instruments              
Debt instrument interest rate (as a percent)     0.10% 0.10%      
Principal payments required on long-term debt              
Debt Instrument, Unused Borrowing Capacity, Amount     $ 1,000 $ 1,000      
Filtration Facilities | Minimum              
Debt Instruments              
Percentage added to reference rate to compute the variable interest rate       1.125%      
Short-term Debt [Line Items]              
Percentage added to reference rate to compute the variable interest rate       1.125%      
Filtration Facilities | Maximum              
Debt Instruments              
Percentage added to reference rate to compute the variable interest rate       1.75%      
Short-term Debt [Line Items]              
Percentage added to reference rate to compute the variable interest rate       1.75%      
Filtration revolving credit facility              
Principal payments required on long-term debt              
Debt Instrument, Unused Borrowing Capacity, Amount     400 $ 400      
Filtration term loan facility              
Principal payments required on long-term debt              
Debt Instrument, Unused Borrowing Capacity, Amount     $ 600 $ 600      
Commercial Paper              
Debt Instruments              
Weighted average interest rate (as a percent) | Rate     4.27% 4.27% (0.01%)    
Line of Credit Facility, Maximum Borrowing Capacity     $ 4,000 $ 4,000      
Short-term Debt [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity     $ 4,000 $ 4,000      
Commercial Paper | EUROPE              
Debt Instruments              
Weighted average interest rate (as a percent) | Rate     1.86% 1.86% (0.39%)    
Commercial Paper | UNITED STATES              
Debt Instruments              
Weighted average interest rate (as a percent) | Rate     4.38% 4.38% 0.21%    
International and other domestic short-term credit facilities              
Debt Instruments              
Line of credit facility, remaining borrowing capacity     $ 226 $ 226      
1-year revolving credit agreement              
Debt Instruments              
Debt Instrument, Term 364 days 364 days          
Line of Credit Facility, Maximum Borrowing Capacity $ 1,500 $ 1,500          
Short-term Debt [Line Items]              
Debt Instrument, Term 364 days 364 days          
Line of Credit Facility, Maximum Borrowing Capacity $ 1,500 $ 1,500          
Incremental Domestic Line of Credit              
Debt Instruments              
Line of Credit Facility, Maximum Borrowing Capacity 500            
Short-term Debt [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity $ 500            
5-year revolving credit agreement              
Debt Instruments              
Debt Instrument, Term   5 years          
Line of Credit Facility, Maximum Borrowing Capacity   $ 2,000          
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases   $ 300          
Percentage added to reference rate to compute the variable interest rate       0.85%      
LIBOR to SOFR adjustment       0.10%      
Short-term Debt [Line Items]              
Debt Instrument, Term   5 years          
Line of Credit Facility, Maximum Borrowing Capacity   $ 2,000          
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases   $ 300          
Percentage added to reference rate to compute the variable interest rate       0.85%