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NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of notes payable
Notes Payable at Dec 31
In millions20232022
Commercial paper$— $299 
Notes payable to banks and other lenders62 63 
Total notes payable$62 $362 
Year-end average interest rates 1
33.84 %6.55 %
1.The average interest rate increase from 2022 to 2023 is primarily due to interest rates in Argentina.
Schedule of long-term debt
Long-Term Debt at Dec 312023 Average Rate20232022
Average
Rate		2022
In millions
Promissory notes and debentures:
Final maturity 2023— %$— 7.63 %$250 
Final maturity 20255.63 %333 5.63 %333 
Final maturity 20284.80 %600 4.80 %600 
Final maturity 2029 and thereafter 1
5.40 %10,228 5.39 %10,264 
Other facilities:
Foreign currency notes and loans, various rates and maturities1.18 %2,653 1.16 %2,562 
InterNotes®, varying maturities through 2053
4.12 %595 3.87 %543 
Finance lease obligations 2
873 790 
Unamortized debt discount and issuance costs(258)(282)
Long-term debt due within one year 3
(117)(362)
Long-term debt$14,907 $14,698 
1.Cost includes net fair value hedge adjustment gains of $49 million at December 31, 2023 ($46 million at December 31, 2022). See Note 20 for additional information.
2.See Note 15 for additional information.
3.Presented net of current portion of unamortized debt issuance costs.
Schedule of maturities of long-term debt
Maturities of Long-Term Debt for Next Five Years at Dec 31, 2023
In millions
2024$115 
2025$443 
2026$120 
2027$1,261 
2028$683 
Schedule of committed and available credit facilities
The following table summarizes the Company's credit facilities:

Committed and Available Credit Facilities at Dec 31, 2023
In millionsCommitted CreditCredit AvailableMaturity DateInterest
Five Year Competitive Advance and Revolving Credit Facility$5,000 $5,000 November 2028Floating rate
Bilateral Revolving Credit Facility375 375 October 2024Floating rate
Bilateral Revolving Credit Facility100 100 March 2025Floating rate
Bilateral Revolving Credit Facility100 100 March 2025Floating rate
Bilateral Revolving Credit Facility200 200 September 2025Floating rate
Bilateral Revolving Credit Facility175 175 September 2025Floating rate
Bilateral Revolving Credit Facility300 300 November 2025Floating rate
Bilateral Revolving Credit Facility300 300 February 2026Floating rate
Bilateral Revolving Credit Facility100 100 March 2026Floating rate
Bilateral Revolving Credit Facility150 150 November 2026Floating rate
Bilateral Revolving Credit Facility200 200 November 2026Floating rate
Bilateral Revolving Credit Facility250 250 March 2027Floating rate
Bilateral Revolving Credit Facility100 100 May 2027Floating rate
Bilateral Revolving Credit Facility350 350 June 2027Floating rate
Bilateral Revolving Credit Facility200 200 September 2027Floating rate
Bilateral Revolving Credit Facility100 100 October 2027Floating rate
Bilateral Revolving Credit Facility100 100 November 2027Floating rate
Bilateral Revolving Credit Facility300 300 May 2028Floating rate
Total Committed and Available Credit Facilities$8,400 $8,400