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Debt (Tables)
 3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Carrying value of outstanding debt
The following table summarizes the carrying value of our outstanding debt (in millions, except percentages):
 
 
Coupon
 
As of
 
Effective
 
As of
 
Effective
 
 
 Rate
 
March 31, 2017
 
 Interest Rate
 
December 31, 2016
 
 Interest Rate
Long-Term Debt
 
 
 
 
 
 
 
 
 
 
Floating Rate Notes:
 
 
 
 
 
 
 
 
 
 
Senior notes due 2017
 
LIBOR plus 0.20%

 
$
450

 
1.372
%
 
$
450

 
1.223
%
Senior notes due 2019
 
LIBOR plus 0.48%

 
400

 
1.600
%
 
400

 
1.460
%
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Notes:
 
 
 
 
 
 
 
 
 
 
Senior notes due 2017
 
1.350
%
 
1,000

 
1.456
%
 
1,000

 
1.456
%
Senior notes due 2018
 
2.500
%
 
750

 
2.775
%
 
750

 
2.775
%
Senior notes due 2019
 
2.200
%
 
1,150

 
2.346
%
 
1,150

 
2.346
%
Senior notes due 2020
 
3.250
%
 
500

 
3.389
%
 
500

 
3.389
%
Senior notes due 2021
 
2.875
%
 
750

 
2.993
%
 
750

 
2.993
%
Senior notes due 2022
 
3.800
%
 
750

 
3.989
%
 
750

 
3.989
%
Senior notes due 2022
 
2.600
%
 
1,000

 
2.678
%
 
1,000

 
2.678
%
Senior notes due 2024
 
3.450
%
 
750

 
3.531
%
 
750

 
3.531
%
Senior notes due 2042
 
4.000
%
 
750

 
4.114
%
 
750

 
4.114
%
Senior notes due 2056
 
6.000
%
 
750

 
6.547
%
 
750

 
6.547
%
Total senior notes
 
 
 
9,000

 
 
 
9,000

 
 
Hedge accounting fair value adjustments
 
 
 
16

 
 
 
23

 
 
Unamortized discount and debt issuance costs
 
 
 
(60
)
 
 
 
(64
)
 
 
Less: Current portion of long-term debt
 
 
 
(2,200
)
 
 
 
(1,450
)
 
 
Total long-term debt
 
 
 
6,756

 
 
 
7,509

 
 
 
 
 
 
 
 
 
 
 
 
 
Short-Term Debt
 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
 
 
 
2,200

 
 
 
1,450

 
 
Unamortized discount and debt issuance costs
 
 
 
(2
)
 
 
 
(1
)
 
 
Other indebtedness
 
 
 
12

 
 
 
2

 
 
Total short-term debt
 
 
 
2,210

 
 
 
1,451

 
 
Total Debt
 
 
 
$
8,966

 
 
 
$
8,960