Debt and Credit Agreements (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Activity Related to Long-Term Debt

Total activity related to long-term debt as of the end of first quarter 2023 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 9, Fair Value Measurements.

(Dollars in millions)	Current Portion		Long-term Portion		Total
Long-term Debt as of December 31, 2022	$	151	$	17,896	$	18,047
2023 Activity:
Long-term Debt Repaid	(142)		—		(142)
Reclassifications	2		(2)		—
Hedging, Discount, Premium and Other Activity	—		17		17
Long-term Debt as of March 31, 2023	$	11	$	17,911	$	17,922

Schedule of Interest Rate Derivatives

The amounts recorded in long-term debt on the consolidated balance sheet related to these fair value hedges is summarized in the table below.

(Dollars in millions)	March 31, 2023		December 31, 2022
Notional Value of Hedged Notes	$	800	$	800
Cumulative Fair Value Adjustment to Hedged Notes	(103)		(118)
Carrying Amount of Hedged Notes	$	697	$	682