FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of estimated fair value of long-term debt

	2014		2013
December 31 (millions of dollars)	Carrying Value	Fair Value	Carrying Value	Fair Value

Senior Credit Facility due 2017	330	330	380	380
Term Loan Facility due 2018	500	500	500	500
Short-Term Loan Facility due 2015	170	170	–	–
4.65% Senior Notes due 2021	350	375	349	353
5.09% Unsecured Senior Notes due 2015	75	76	75	79
5.29% Unsecured Senior Notes due 2020	100	111	100	106
5.69% Unsecured Senior Notes due 2035	150	168	150	154
3.82% Series D Senior Notes due 2017	20	21	24	25

	1,695	1,751	1,578	1,597

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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