Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis for Continuing Operations

For 2022, 2021 and 2020, the gains and losses recognized as interest expense were immaterial.

	DECEMBER 31, 2022									DECEMBER 31, 2021
				Fair Value Measurements									Fair Value Measurements
				Derivative asset			Derivative liability						Derivative asset			Derivative liability
	Nominal			(Other current			(Other current			Nominal			(Other current			(Other current
(Dollars in millions)	volume			assets)			liabilities)			volume			assets)			liabilities)
DERIVATIVES NOT DESIGNATED    AS HEDGING INSTRUMENTS
Foreign exchange swaps, less    than 6 months	$	2,616	1)	$	22	2)	$	15	3)	$	1,348	4)	$	5	5)	$	16	6)
TOTAL DERIVATIVES NOT    DESIGNATED AS HEDGING    INSTRUMENTS	$	2,616		$	22		$	15		$	1,348		$	5		$	16

1) Net nominal amount after deducting for offsetting swaps under ISDA agreements is $2,616 million.

2) Net amount after deducting for offsetting swaps under ISDA agreements is $22 million.

3) Net amount after deducting for offsetting swaps under ISDA agreements is $15 million.

4) Net nominal amount after deducting for offsetting swaps under ISDA agreements is $1,326 million.

5) Net amount after deducting for offsetting swaps under ISDA agreements is $5 million.

6) Net amount after deducting for offsetting swaps under ISDA agreements is $16 million.

Fair Value of Debt

The fair value and carrying value of debt for the continuing operations are summarized in the table below (dollars in millions).

	DECEMBER 31, 2022				DECEMBER 31, 2021
	CARRYING VALUE1)		FAIR VALUE		CARRYING VALUE1)		FAIR VALUE
LONG-TERM DEBT
Bonds	$	767	$	735	$	1,330	$	1,400
Loans		287		292		332		347
TOTAL	$	1,054	$	1,027	$	1,662	$	1,747
SHORT-TERM DEBT
Short-term portion of long-term debt	$	533	$	527	$	332	$	333
Overdrafts and other short-term debt		178		178		14		14
TOTAL	$	711	$	705	$	346	$	348

1) Debt as reported in balance sheet.