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NOTES PAYABLE (Tables)
6 Months Ended
Jun. 30, 2011
Schedule of Long-term Debt Instruments

A summary of notes payable follows:

 

(In millions)   

June 30,

2011

    December 31,
2010
 

8.50% senior notes due May 2019

   $ 850      $ 850   

6.45% senior notes due August 2040

     448    (1)      448   (1) 

6.90% senior notes due December 2039

     396    (2)      396   (2) 

3.45% senior notes due August 2015

     300        300   

Yen-denominated Uridashi notes:

    

1.52% notes due September 2011 (principal amount 15 billion yen)

     186        184   

2.26% notes due September 2016 (principal amount 8 billion yen)

     99        98   

Variable interest rate notes due September 2011 (.58% at June 2011, principal amount 20 billion yen)

     248        245   

Yen-denominated Samurai notes:

    

1.87% notes due June 2012 (principal amount 26.6 billion yen)

     329        327   

Yen-denominated loans:

    

3.60% loan due July 2015 (principal amount 10 billion yen)

     124        123   

3.00% loan due August 2015 (principal amount 5 billion yen)

     62        61   

Capitalized lease obligations payable through 2016

     6        6   

Total notes payable

   $ 3,048      $ 3,038   
   

(1) $450 issuance net of a $2 underwriting discount that is being amortized over the life of the notes

(2) $400 issuance net of a $4 underwriting discount that is being amortized over the life of the notes