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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Summary of Financial Information for Joint Ventures

The following tables present summarized financial information for these joint ventures:

 


Year Ended December 31         2015    2014      

(In millions)

                

Total assets

         $ 1,577        $         1,231     

Total liabilities

           1,231          1,025     
Year Ended December 31   2015    2014    2013      

Revenues

    $         606        $     491        $ 349     

Net income

      71          32          7     
Schedule of Life Settlement Contracts Fair Value Method

The following table details the values for life settlement contracts. The determination of fair value is discussed in Note 4.

 

     Number of Life
Settlement
Contracts
     Fair Value of Life
Settlement
Contracts
     Face Amount of
Life Insurance
Policies
      
        

(Dollar amounts in millions)

           

Estimated maturity during:

           

2016

     60           $         11           $ 35          

2017

     60             10             31          

2018

     50             8             27          

2019

     40             6             24          

2020

     40             5             21          

Thereafter

     300             34             167          
        

Total

     550           $ 74           $         305          

 

Principal Service Lives

The principal service lives used in computing provisions for depreciation are as follows:

 

     Years  

Pipeline equipment

     30 to 50   

Offshore drilling equipment

     15 to 30   

Other

     3 to 40