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LONG-TERM DEBT AND CREDIT AGREEMENTS
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND CREDIT AGREEMENTS LONG-TERM DEBT AND CREDIT AGREEMENTS
 June 30, 2024December 31, 2023
0.00% Euro notes due 2024
$— $547 
2.30% notes due 2024
750 750 
4.85% notes due 2024
400 400 
1.35% notes due 2025
1,250 1,250 
2.50% notes due 2026
1,500 1,500 
1.10% notes due 2027
1,000 1,000 
3.50% Euro notes due 2027
695 711 
4.95% notes due 2028
500 500 
2.25% Euro notes due 2028
802 820 
4.25% notes due 2029
750 750 
2.70% notes due 2029
750 750 
4.875% notes due 2029
500 — 
3.375% Euro notes due 2030
802 — 
1.95% notes due 2030
1,000 1,000 
4.95% notes due 2031
500 — 
1.75% notes due 2031
1,500 1,500 
0.75% Euro notes due 2032
535 547 
3.75% Euro notes due 2032
535 547 
5.00% notes due 2033
1,100 1,100 
4.50% notes due 2034
1,000 1,000 
4.125% Euro notes due 2034
1,069 1,094 
5.00% notes due 2035
750 — 
3.75% Euro notes due 2036
802 — 
5.70% notes due 2036
441 441 
5.70% notes due 2037
462 462 
5.375% notes due 2041
417 417 
3.812% notes due 2047
442 442 
2.80% notes due 2050
750 750 
5.25% notes due 2054
1,750 — 
5.35% notes due 2064
650 — 
Industrial development bond obligations, floating rate maturing at various dates through 2037
22 22 
6.625% debentures due 2028
201 201 
9.065% debentures due 2033
51 51 
Other (including capitalized leases), 6.0% weighted average interest rate maturing at various dates through 2029
217 217 
Fair value of hedging instruments(212)(166)
Debt issuance costs(297)(245)
Total Long-term debt and current related maturities23,384 18,358 
Less: Current maturities of long-term debt2,519 1,796 
Total Long-term debt$20,865 $16,562 
On March 1, 2024, the Company issued $500 million 4.875% Senior Notes due 2029, $500 million 4.95% Senior Notes due 2031, $750 million 5.00% Senior Notes due 2035, $1.75 billion 5.25% Senior Notes due 2054, and $650 million 5.35% Senior Notes due 2064 (collectively, the 2024 USD Notes). The Company may redeem the 2024 USD Notes at any time, and from time to time, in whole or in part, at the Company's option at the applicable redemption price. The offering provided gross proceeds of $4.2 billion, offset by $44 million in discount and closing costs related to the offering.
On March 1, 2024, the Company issued €750 million 3.375% Senior Notes due 2030 and €750 million 3.75% Senior Notes due 2036 (collectively, the 2024 Euro Notes). The Company may redeem the 2024 Euro Notes at any time, and from time to time, in whole or in part, at the Company's option at the applicable redemption price. The offering provided gross proceeds of $1.6 billion, offset by $21 million in discount and closing costs related to the offering.
The 2024 USD Notes and 2024 Euro Notes are senior unsecured and unsubordinated obligations of the Company and rank equally with each other and with all of the Company's existing and future senior unsecured debt and senior to all of the Company's subordinated debt. The Company intends to use the proceeds from the issuances for general corporate purposes, which may include, among other things, the repayment of outstanding debt and financing of possible acquisitions or business expansion.
On March 11, 2024, the Company repaid its 0.00% Euro notes due 2024.
On March 18, 2024, the Company entered into a $1.5 billion 364-day credit agreement (the 364-Day Credit Agreement) and a $4.0 billion amended and restated five-year credit agreement (the 5-Year Credit Agreement). The 364-Day Credit Agreement replaced the $1.5 billion 364-day credit agreement dated as of March 20, 2023, which was terminated in accordance with its terms effective March 18, 2024. Amounts borrowed under the 364-Day Credit Agreement are required to be repaid no later than March 17, 2025, unless (i) Honeywell elects to convert all then outstanding amounts into a term loan, upon which such amounts shall be repaid in full on March 17, 2026, or (ii) the 364-Day Credit Agreement is terminated earlier pursuant to its terms. The 5-Year Credit Agreement amended and restated the previously reported $4.0 billion amended and restated five-year credit agreement dated as of March 20, 2023. Commitments under the 5-Year Credit Agreement can be increased pursuant to the terms of the 5-Year Credit Agreement to an aggregate amount not to exceed $4.5 billion. The 364-Day Credit Agreement and 5-Year Credit Agreement are maintained for general corporate purposes.
As of June 30, 2024, there were no outstanding borrowings under the 364-Day Credit Agreement or the 5-Year Credit Agreement.