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BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2021
BORROWINGS  
Summary of components of debt

  Weighted-Average

    

    

December 31,

(Dollars in millions)

Interest Rate*

Maturities*

2021

2020

Long-term debt

2.7%

2024-2041

$

3,029

$

Finance lease obligations

1.4%

2022-2026

222

209

$

3,251

$

209

Less: Unamortized discount

5

Less: Unamortized debt issuance costs

  

  

15

Less: Current maturities of long-term debt

  

  

103

69

Total

  

  

$

3,128

$

140

*

As of December 31, 2021.

Schedule of contractual obligations of long-term debt outstanding

December 31,

(Dollars in millions)*

    

2021

2022

$

103

2023

 

94

2024

 

572

2025

 

57

2026

 

726

Thereafter

 

1,700

Total

$

3,251

*    Contractual obligations approximate scheduled repayments.