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Debt and Credit Agreements (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Activity Related to Long-Term Debt
Total activity related to long-term debt as of the end of first quarter 2025 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 9, Fair Value Measurements.

(Dollars in Millions)
Current PortionLong-term PortionTotal
Long-term Debt as of December 31, 2024
$606 $17,897 $18,503 
2025 Activity:
Long-term Debt Issued— 600 600 
Long-term Debt Repaid(2)— (2)
Reclassifications1 (1)— 
Hedging, Discount, Premium and Other Activity— 25 25 
Long-term Debt as of March 31, 2025
$605 $18,521 $19,126 
Schedule of Interest Rate Derivatives The cumulative adjustment to the hedged notes is included in long-term debt on the consolidated balance sheet as shown in the following table below.
(Dollars in Millions)March 31, 2025December 31, 2024
Notional Value of Hedged Notes$1,300 $1,050 
Fair Value Asset Adjustment to Hedged Notes20 7 
Fair Value Liability Adjustment to Hedged Notes(110)(123)
Carrying Amount of Hedged Notes$1,210 $934 
The difference in the net fixed-to-float interest settlement on the derivatives is recognized in interest expense and is summarized as follows.
First Quarters
(Dollars in Millions)20252024
Interest Expense Impact (Increase) Decrease$(5)$(8)
Schedule of Interest Expense / Unrealized Amounts Related to Cash Flow Hedges Prior to full settlement, unrealized gains related to the swaps were included in other comprehensive income as summarized in the table below.
First Quarters
(Dollars in Millions)20252024
Unrealized Gain - Net of Tax
$— $2