Annual report pursuant to Section 13 and 15(d)

DEBT (Details)

v3.24.0.1
DEBT (Details)
$ in Millions
 12 Months Ended 24 Months Ended
Aug. 17, 2022
USD ($)
Aug. 18, 2021
USD ($)
Dec. 31, 2023
USD ($)
Rate
Dec. 31, 2022
USD ($)
Rate
Dec. 31, 2021
USD ($)
Dec. 31, 2023
USD ($)
Rate
Jun. 05, 2023
USD ($)
May 26, 2023
USD ($)
Jul. 13, 2022
USD ($)
Debt Instruments                  
Loans payable     $ 280 $ 210   $ 280      
Weighted average interest rate (as a percent) | Rate     3.31% 4.02%   3.31%      
Commercial paper     $ 1,496 $ 2,574   $ 1,496      
Line of Credit Facility, Maximum Borrowing Capacity     $ 4,000     $ 4,000      
Leverage ratio     0.65     0.65      
Line of credit facility, remaining borrowing capacity     $ 2,500     $ 2,500      
Other Long-term Debt     94 121   94      
Unamortized discount     (72) (64)   (72)      
Liabilities, Fair Value Adjustment     (96) (122)          
Finance Lease, Liability     111 113   111      
Total long-term debt     4,920 5,071   4,920      
Less: Current maturities of long-term debt     118 573   118      
Long-term debt     4,802 4,498   4,802      
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security     (1,136) (1,550) $ (73)        
Principal payments required on long-term debt                  
2024     118     118      
2025     1,797     1,797      
2026     67     67      
2027     614     614      
2028     266     266      
Total interest incurred     383 204 113        
Interest capitalized     8 5 $ 2        
Short-term Debt [Line Items]                  
Line of Credit Facility, Maximum Borrowing Capacity     4,000     4,000      
Fair value                  
Fair value of total debt     6,375 7,400   6,375      
Carrying value of total debt     $ 6,696 7,855   $ 6,696      
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                  
Principal payments required on long-term debt                  
Debt Instrument, Description of Variable Rate Basis     (SOFR)            
Senior Notes, 3.65%, due 2023                  
Debt Instruments                  
Unsecured Debt       500          
Debt instrument interest rate (as a percent) | Rate     3.65%     3.65%      
Hydrogenics Promissory Note, Percent Due 2024-2025                  
Debt Instruments                  
Unsecured Debt     $ 160 0   $ 160      
Debt instrument interest rate (as a percent) | Rate     0.00%     0.00%      
Term Loan Due 2025                  
Debt Instruments                  
Unsecured Debt     $ 1,150 1,550   $ 1,150     $ 2,000
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security     (400)     (850)      
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%      
Atmus Term loan, due 2027                  
Debt Instruments                  
Unsecured Debt     $ 600 0   $ 600   $ 600  
Principal payments required on long-term debt                  
Debt Instrument, Unused Borrowing Capacity, Amount     600     600      
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%      
Atmus revolving credit facility                  
Debt Instruments                  
Line of Credit Facility, Maximum Borrowing Capacity     $ 400     $ 400      
Principal payments required on long-term debt                  
Debt Instrument, Unused Borrowing Capacity, Amount     400     400      
Short-term Debt [Line Items]                  
Line of Credit Facility, Maximum Borrowing Capacity     $ 400     $ 400      
Atmus Credit Facility, Due 2027                  
Debt Instruments                  
Unsecured Debt               $ 50  
Atmus 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      
Atmus 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%            
Atmus 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%            
Commercial Paper                  
Debt Instruments                  
Weighted average interest rate (as a percent) | Rate     5.43% 4.27%   5.43%      
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      
International and other domestic short-term credit facilities                  
Debt Instruments                  
Line of credit facility, remaining borrowing capacity     $ 393     $ 393      
1-year revolving credit agreement                  
Debt Instruments                  
Debt Instrument, Term 364 days                
Line of Credit Facility, Maximum Borrowing Capacity $ 1,500           $ 2,000    
Short-term Debt [Line Items]                  
Debt Instrument, Term 364 days                
Line of Credit Facility, Maximum Borrowing Capacity $ 1,500           $ 2,000    
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%            
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%            
Atmus Facilities                  
Debt Instruments                  
Leverage ratio     4.0     4.0      
Principal payments required on long-term debt                  
Interest Coverage Ratio       3.0