LINES OF CREDIT

12 Months Ended

Dec. 31, 2018

Line of Credit Facility [Line Items]

LINES OF CREDIT

LINES OF CREDIT

OUR LINES OF CREDIT

During March 2017, we entered into a $1.5 billion five-year senior unsecured revolving credit facility that expires in March 2022. This replaced a $1 billion senior unsecured revolving credit facility that was originally set to expire September 2018. Borrowings are at LIBOR plus a spread or at other interest rates mutually agreed upon between the borrower and the lending banks. As of December 31, 2018, we had $425 million of outstanding borrowings on the revolving credit facility and had an additional $1,075 million available. We were in compliance with the revolving credit facility covenants as of December 31, 2018.

OTHER LETTERS OF CREDIT AND SURETY BONDS

The amounts of other letters of credit and surety bonds we have entered into as of the end of our last two years are included in the following table:

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2018		DECEMBER 31, 2017
Letters of credit	$	38	$	37
Surety bonds	$	123	$	134

Our compensating balance requirements for our letters of credit were $6 million as of December 31, 2018.