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INDEBTEDNESS (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Summary of Total Indebtedness
The following table summarizes total indebtedness:
September 30, 2020
Notes Payable:
Principal Amount
Fair Value of Interest Rate Swaps (1)
Unamortized (Discount) Premium
Unamortized Debt Issuance Costs
Carrying Value
4.50% 2012 Senior Notes, due 2022
$500 $16 $(1)$(1)$514 
4.875% 2013 Senior Notes, due 2024
500 — (1)(1)498 
5.25% 2014 Senior Notes (30-Year), due 2044
600 — 4 (5)599 
1.75% 2015 Senior Notes, due 2027
586 — — (2)584 
2.625% 2017 Senior Notes, due 2023
500 13 (1)(2)510 
3.25% 2017 Senior Notes, due 2028
500 34 (4)(3)527 
4.25% 2018 Senior Notes, due 2029
400 — (2)(3)395 
4.875% 2018 Senior Notes, due 2048
400 — (7)(4)389 
0.950% 2019 Senior Notes, due 2030
879 — (3)(6)870 
3.75% 2020 Senior Notes, due 2025
700 (1)(1)(5)693 
3.25% 2020 Senior Notes, due 2050
300 — (4)(3)293 
2.55% 2020 Senior Notes, due 2060
500 — (4)(5)491 
Total long-term debt$6,365 $62 $(24)$(40)$6,363 

December 31, 2019
Notes Payable:
Principal Amount
Fair Value of Interest Rate Swaps (1)
Unamortized (Discount) Premium
Unamortized Debt Issuance Costs
Carrying Value
4.50% 2012 Senior Notes, due 2022
$500 $9 $(1)$(1)$507 
4.875% 2013 Senior Notes, due 2024
500 — (1)(2)497 
5.25% 2014 Senior Notes (30-Year), due 2044
600 — 4 (5)599 
1.75% 2015 Senior Notes, due 2027
561 — — (3)558 
2.75% 2017 Senior Notes, due 2021
500 11 (1)(2)508 
2.625% 2017 Senior Notes, due 2023
500 7 (1)(2)504 
3.25% 2017 Senior Notes, due 2028
500 — (4)(3)493 
3.25% 2018 Senior Notes, due 2021
300 — — (1)299 
4.25% 2018 Senior Notes, due 2029
400 — (3)(3)394 
4.875% 2018 Senior Notes, due 2048
400 — (7)(4)389 
0.950% 2019 Senior Notes, due 2030
842 — (3)(6)833 
Total long-term debt$5,603 $27 $(17)$(32)$5,581 
(1) The fair value of interest rate swaps in the table above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt.
Principal Payments Due on Long-Term Borrowings
The repayment schedule for the Company’s borrowings is as follows:
Year Ending December 31,2012 Senior Notes due 20222013 Senior Notes due 2024
2014 Senior Notes (30-Year) due 2044
2015 Senior Notes due 20272017 Senior Notes due 20232017 Senior Notes due 20282018 Senior Notes due 20292018 Senior Notes due 20482019 Senior Notes due 20302020 Senior Notes due 20252020 Senior Notes due 20502020 Senior Notes due 2060Total
2020 (After September 30,)
$— $— $— $— $— $— $— $— $— $— $— $— $— 
2021— — — — — — — — — — — — — 
2022500 — — — — — — — — — — — 500 
2023— — — — 500 — — — — — — — 500 
2024— 500 — — — — — — — — — — 500 
Thereafter— — 600 586 — 500 400 400 879 700 300 500 4,865 
Total$500 $500 $600 $586 $500 $500 $400 $400 $879 $700 $300 $500 $6,365 
Summary of Components of Interest as Presented in Consolidated Statements of Operations
The following table summarizes the components of interest as presented in the consolidated statements of operations:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Income$2 $3 $9 $12 
Expense on borrowings(42)(37)(121)(125)
UTPs and other tax related liabilities(9)(7)(27)(20)
Net periodic pension costs - interest component(4)(6)(14)(17)
Capitalized— 1 — 1 
Total$(53)$(46)$(153)$(149)
Interest Paid
The following table shows the cash paid for interest:
Nine Months Ended
September 30,
20202019
Interest paid
$119 $149 
Fair Value and Carrying Value of Long-Term Debt
The fair value and carrying value of the Company’s debt as of September 30, 2020 and December 31, 2019 are as follows:
September 30, 2020December 31, 2019
Carrying Amount
Estimated Fair Value
Carrying Amount
Estimated Fair Value
4.50% 2012 Senior Notes, due 2022
$514 $535 $507 $531 
4.875% 2013 Senior Notes, due 2024
498 565 497 551 
5.25% 2014 Senior Notes (30-Year), due 2044
599 822 599 757 
1.75% 2015 Senior Notes, due 2027
584 643 558 604 
2.75% 2017 Senior Notes, due 2021
— — 508 507 
2.625% 2017 Senior Notes, due 2023
510 523 504 507 
3.25% 2017 Senior Notes, due 2028
527 566 493 523 
3.25% 2018 Senior Notes, due 2021
— — 299 306 
4.25% 2018 Senior Notes, due 2029
395 479 394 453 
4.875% 2018 Senior Notes, due 2048
389 540 389 492 
0.950% 2019 Senior Notes, due 2030
870 923 833 847 
3.75% 2020 Senior Notes, due 2025
693 789 — — 
3.25% 2020 Senior Notes, due 2050
293 320 — — 
2.55% 2020 Senior Notes, due 2060
491 458 — — 
Total
$6,363 $7,163 $5,581 $6,078