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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Estimated Fair Values and Carrying Values of Long-Term Debt

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

 

 

 

MARCH 31,
2025

 

 

DECEMBER 31,
2024

 

DOLLAR AMOUNTS IN MILLIONS

 

CARRYING
VALUE

 

 

FAIR VALUE
(LEVEL 2)

 

 

CARRYING
VALUE

 

 

FAIR VALUE
(LEVEL 2)

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate

 

$

4,619

 

 

$

4,581

 

 

$

4,827

 

 

$

4,757

 

Variable rate

 

 

548

 

 

 

550

 

 

 

249

 

 

 

250

 

Total debt

 

$

5,167

 

 

$

5,131

 

 

$

5,076

 

 

$

5,007