Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Condensed Consolidated Balance Sheet:

	March 31, 2024
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	705	$	646	$	59	$	—
Derivative assets	195		—		195		—
Derivative liabilities	212		—		212		—

	December 31, 2023
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	745	$	682	$	63	$	—
Derivative assets	308		—		308		—
Derivative liabilities	180		—		180		—

Fair Value, by Balance Sheet Grouping

The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Condensed Consolidated Balance Sheet:

	March 31, 2024				December 31, 2023
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Customer financing notes receivable	$	66	$	56	$	74	$	63
Long-term debt (excluding finance leases)	42,588		39,957		43,546		41,598

The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Condensed Consolidated Balance Sheet:

	March 31, 2024
(dollars in millions)	Total		Level 1		Level 2		Level 3
Customer financing notes receivable	$	56	$	—	$	56	$	—
Long-term debt (excluding finance leases)	39,957		—		35,914		4,043

	December 31, 2023
(dollars in millions)	Total		Level 1		Level 2		Level 3
Customer financing notes receivable	$	63	$	—	$	63	$	—
Long-term debt (excluding finance leases)	41,598		—		37,559		4,039