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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 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, within the line items Short-term Investments and Other Long-term Assets, as summarized in the following table.
September 30, 2024December 31, 2023
(Dollars in Millions)
Level 1Level 2TotalLevel 1Level 2Total
Fixed Income Mutual Funds$ $ $ $80 $— $80 
Exchange-traded Funds
2  2 — — — 
Corporate Bonds 76 76 — 60 60 
Asset-backed Securities
 28 28 — 
Government Securities 40 40 — 40 40 
Total Investments at Fair Value$2 $144 $146 $80 $101 $181 
Total Investments at Amortized Cost (a)
$144 $184 
Schedule of Investment Maturities
These investments have the following maturities (b):
(Dollars in Millions)
September 30,
2024
December 31,
2023
Less than 1 year
$12 $83 
1 - 5 years
69 37 
5 - 10 years
16 17 
Greater than 10 years
47 44 
Total Investments at Fair Value$144 $181 
(a) Exchange-traded funds are excluded as they are not disclosed at amortized cost.
(b) Exchange-traded funds are excluded as there is no stated contractual maturity date.
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)
September 30,
2024
December 31,
2023
Long-term Debt (Including Current Maturities):
Fair Value$17,619 $17,528 
Carrying Value18,541 18,533