FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes our long-term debt at December 31, 2022 and 2021:

Millions of dollars	2022		2021
Senior Note - 4.70%, maturing 2022	$	—	$	300
Senior Note - 3.70%, maturing 2023	250		250
Senior Note - 4.00%, maturing 2024	300		300
Term Loan - SOFR + 85bps, maturing 2024	1,000		—
Term Loan - SOFR +110bps, maturing 2025	1,500		—
Senior Note - 3.70%, maturing 2025	350		350
Senior Note - 1.25%, maturing 2026(1)	532		566
Senior Note - 1.10%, maturing 2027(1)	638		679
Senior Note - 0.50%, maturing 2028(1)	533		566
Senior Note - 4.75%, maturing 2029	695		694
Senior Note - 2.40%, maturing 2031	300		300
Senior Note - 4.70%, maturing 2032	297		—
Senior Note - 5.15%, maturing 2043	249		249
Senior Note - 4.50%, maturing 2046	497		497
Senior Note - 4.60%, maturing 2050	493		493
Other, net	(23)		(17)
	$	7,611	$	5,227
Less current maturities	248		298
Total long-term debt	$	7,363	$	4,929

(1)Euro denominated debt reflects impact of currency

Schedule of Maturities of Long-term Debt

The following table summarizes the contractual maturities of our long-term debt, including current maturities, at December 31, 2022:

Millions of dollars
2023	248
2024	1,297
2025	1,847
2026	529
2027	636
Thereafter	3,054
Long-term debt, including current maturities	7,611

Schedule of Notes Payable

The following table summarizes the carrying value of notes payable at December 31, 2022 and 2021, respectively.

Millions of dollars	2022		2021
Short-term borrowings to banks	4		10
Total notes payable	$	4	$	10