DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Carrying Value of Short-term and Long-term Debt

The carrying value of our short-term and long-term debt consist of the following at December 31:

	2023				2022
	Amount		Effective Interest Rate (1)		Amount		Effective Interest Rate (1)
Short-term and current portion of long-term debt
1.231% Senior Notes due December 2023	$	—	—	%	$	649	1.5	%
8.55% Debentures due June 2024 (2)	109		4.1	%	—		—	%
Other debt	39		4.9	%	29		2.9	%
Total short-term and current portion of long-term debt	148				677
Long-term debt
8.55% Debentures due June 2024 (2)	—		—	%	114		4.1	%
2.061% Senior Notes due December 2026	598		2.4	%	597		2.4	%
3.337% Senior Notes due December 2027	1,294		5.3	%	1,277		3.8	%
6.875% Notes due January 2029 (2)	268		3.9	%	273		3.9	%
3.138% Senior Notes due November 2029	523		3.2	%	523		3.2	%
4.486% Senior Notes due May 2030	498		4.6	%	497		4.6	%
5.125% Senior Notes due September 2040 (2)	1,281		4.2	%	1,286		4.2	%
4.080% Senior Notes due December 2047	1,338		4.1	%	1,338		4.1	%
Other long-term debt	73		6.3	%	75		4.2	%
Total long-term debt	5,872				5,980
Total debt	$	6,020			$	6,658

(1)Effective interest rate is based on the carrying value including issuance costs, interest rate swaps, and step-up adjustments from the Baker Hughes Incorporated ("BHI") acquisition recorded for certain Senior Notes and Debentures.

(2)Represents long-term fixed rate debt obligations assumed in connection with the acquisition of BHI.

Schedule of Maturities of Debt

Maturities of debt for each of the five years in the period ending December 31, 2028, and in the aggregate thereafter, are listed in the table below:

	2024		2025		2026		2027		2028		Thereafter
Total debt	$	148	$	4	$	614	$	1,308	$	—	$	3,946