Debt

In 2014, we entered into a credit agreement with a commercial bank syndicate, or, as amended, the Credit Agreement, providing for a $1,000 million unsecured term loan and a $750 million unsecured revolving credit facility. The term loan and the revolving credit facility both mature in November 2019. All notes drawn to date under the revolving credit facility have been less than 90 days in duration. There were no notes outstanding under the revolving credit facility as of September 30, 2017 or December 31, 2016. We are required under the Credit Agreement to make scheduled quarterly principal payments on the term loan. We were in compliance with all debt covenants and representations as of September 30, 2017.

Short-term Debt

The following summarizes our short-term debt balances as of:



	September 30, 2017		December 31, 2016
	(in millions)
Term loan - current maturities	$	100	$	81
Total short-term debt	$	100	$	81

Long-term Debt

The following summarizes our long-term debt balances as of:



	September 30, 2017			December 31, 2016
	(in millions)
Term loan, due 2019	$	825		$	881
Less:
Current maturities	(100		)	(81		)
Deferred financing costs	(2		)	(3		)
Long-term debt, net of current maturities	$	723		$	797