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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2017
Estimated Fair Values and Carrying Values of Long-Term Debt
The estimated fair values and carrying values of our long-term debt consisted of the following:
 
MARCH 31,
2017
 
 
DECEMBER 31,
2016
DOLLAR AMOUNTS IN MILLIONS
CARRYING 
VALUE
 
FAIR VALUE
(LEVEL 2)
 
 
CARRYING 
VALUE
 
FAIR VALUE
(LEVEL 2)
 
Long-term debt (including current maturities):
 
 
 
 
 
 
 
 
 
Fixed rate
$
6,057

 
$
7,017

 
 
$
6,061

 
$
6,925

 
Variable rate
549

 
550

 
 
549

 
550

 
Total Debt
$
6,606

 
$
7,567

 
 
$
6,610

 
$
7,475