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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Investment Assets
The Company's investment assets are carried at fair value on the consolidated balance sheets as summarized in the following table.
March 31, 2024December 31, 2023
(Dollars in Millions)
Level 1Level 2TotalLevel 1Level 2Total
Fixed Income Mutual Funds$ $ $ $80 $— $80 
Corporate Bonds 72 72 — 60 60 
Government Securities 49 49 — 41 41 
Total Investments at Fair Value$ $121 $121 $80 $101 $181 
Total Investments at Amortized Cost$124 $184 
Schedule of Investment Maturities
These investments have the following maturities:
(Dollars in Millions)
March 31,
2024
December 31,
2023
Less than 1 year
$2 $83 
1 - 5 years
54 37 
5 - 10 years
16 17 
Greater than 10 years
49 44 
Total Investments at Fair Value$121 $181 
Schedule of Fair Value and Carrying Value of Long-Term Debt
The fair value and carrying value of the Company's long-term debt is as follows:
(Dollars in Millions)
March 31,
2024
December 31,
2023
Long-term Debt (Including Current Maturities):
Fair Value$16,892 $17,528 
Carrying Value18,501 18,533