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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities

The following table presents information about financial instruments at the balance sheet dates indicated.

 

 

September 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

Carrying

 

 

Fair

 

 

Carrying

 

 

Fair

 

(In millions)

 

Amount

 

 

Value

 

 

Amount

 

 

Value

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Company-owned life insurance

 

$

137

 

 

$

137

 

 

$

138

 

 

$

138

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Long-term debt:

 

 

 

 

 

 

 

 

 

 

 

 

New Facilities loans under the Third Amended Credit
   Agreement, due
2025

 

 

53

 

 

 

53

 

 

 

57

 

 

 

57

 

Revenue bonds, due in varying amounts periodically
   through
2029

 

 

75

 

 

 

76

 

 

 

75

 

 

 

76

 

American & Foreign Power Company, Inc. 5% debentures,
   due
2030

 

 

16

 

 

 

14

 

 

 

15

 

 

 

14