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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Estimated Fair Values and Carrying Values of Long-Term Debt

The estimated carrying value and fair value of our long-term debt consisted of the following:

 

DOLLAR AMOUNTS IN MILLIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DECEMBER 31, 2023

 

 

DECEMBER 31, 2022

 

 

 

CARRYING
VALUE

 

 

FAIR VALUE
 (LEVEL 2)

 

 

CARRYING
VALUE

 

 

FAIR VALUE
(LEVEL 2)

 

Long-term debt (including current maturities) and line of credit:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate

 

$

4,820

 

 

$

4,853

 

 

$

5,053

 

 

$

4,918

 

Variable rate

 

 

249

 

 

 

250

 

 

 

—

 

 

 

—

 

Total Debt

 

$

5,069

 

 

$

5,103

 

 

$

5,053

 

 

$

4,918