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Debt and Credit Agreements (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Activity Related to Long-Term Debt
Total activity related to long-term debt as of the end of second 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(3)— (3)
Reclassifications2 (2)— 
Hedging, Discount, Premium and Other Activity11 55 66 
Long-term Debt as of June 30, 2025
$616 $18,550 $19,166 
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)June 30, 2025December 31, 2024
Notional Value of Hedged Notes$1,300 $1,050 
Fair Value Asset Adjustment to Hedged Notes25 7 
Fair Value Liability Adjustment to Hedged Notes(92)(123)
Carrying Amount of Hedged Notes$1,233 $934 
The difference in the net fixed-to-float interest settlement on the derivatives is recognized in interest expense and is summarized as follows.
Second QuartersSix Months
(Dollars in Millions)2025202420252024
Interest Expense Impact (Increase) Decrease$(5)$(8)$(10)$(16)
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.
Second QuartersSix Months
(Dollars in Millions)2025202420252024
Unrealized Gain - Net of Tax
$— $1 $— $3