Credit Facilities and Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Schedule of Credit Facilities and Long-Term Debt

(in millions)	September 30, 2013			December 31, 2012
Short-term borrowings and current maturities of long-term debt	$	3		$	6
Long-term debt
3.550% Senior Notes due 2016 (a)	$	600		$	600
4.875% Senior Notes due 2021 (a)	600			600
Unamortized discount (b)	(1		)	(1		)
Long-term debt	$	1,199		$	1,199
Total debt	$	1,202		$	1,205

(a) The fair value of our Senior Notes (as defined below) was determined using quoted prices in active markets for identical securities, which are considered Level 1 inputs. The fair value of our Senior Notes due 2016 (as defined below) was $631 million and $639 million as of September 30, 2013 and December 31, 2012, respectively. The fair value of our Senior Notes due 2021 (as defined below) was $641 million and $680 million as of September 30, 2013 and December 31, 2012, respectively.

(b) The unamortized discount is recognized as a reduction in the carrying value of the Senior Notes in the Condensed Consolidated Balance Sheets and is being amortized to interest expense in our Condensed Consolidated Income Statements over the expected remaining terms of the Senior Notes.