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LONG-TERM DEBT AND CREDIT AGREEMENTS
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND CREDIT AGREEMENTS LONG-TERM DEBT AND CREDIT AGREEMENTS
 March 31, 2023December 31, 2022
1.30% Euro notes due 2023
$— $1,334 
3.35% notes due 2023
300 300 
0.00% Euro notes due 2024
543 534 
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 
4.95% notes due 2028
500 500 
2.25% Euro notes due 2028
814 800 
2.70% notes due 2029
750 750 
1.95% notes due 2030
1,000 1,000 
1.75% notes due 2031
1,500 1,500 
0.75% Euro notes due 2032
543 534 
5.00% notes due 2033
1,100 1,100 
4.125% Euro notes due 2034
1,085 1,067 
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
445 445 
2.80% notes due 2050
750 750 
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), 8.6% weighted average interest rate maturing at various dates through 2029
232 265 
Fair value of hedging instruments(220)(287)
Debt issuance costs(229)(233)
Total Long-term debt and current related maturities15,607 16,853 
Less: Current maturities of long-term debt937 1,730 
Total Long-term debt$14,670 $15,123 
On February 22, 2023, the Company repaid its 1.30% Euro notes due 2023.
On March 20, 2023, 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 24, 2022, which was terminated in accordance with its terms effective March 20, 2023. Amounts borrowed under the 364-Day Credit Agreement are required to be repaid no later than March 18, 2024, 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 18, 2025, 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 24, 2022. 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 March 31, 2023, there were no outstanding borrowings under the 364-Day Credit Agreement or the 5-Year Credit Agreement.