Debt (Tables)

3 Months Ended

Mar. 31, 2013

Debt [Abstract]

Schedule of Outstanding Debt

The Company’s outstanding debt is as follows:

(In millions of dollars)	March 31, 2013		December 31, 2012
Short-term:
Current portion of long-term debt	$	10	$	260
Long-term:
Senior notes – 4.850% due 2013	—		250
Senior notes – 5.875% due 2033	297		296
Senior notes – 5.375% due 2014	324		326
Senior notes – 5.75% due 2015	479		479
Senior notes – 2.30% due 2017	249		249
Senior notes – 9.25% due 2019	398		398
Senior notes – 4.80% due 2021	497		497
Mortgage – 5.70% due 2035	420		422
Term Loan Facility - due 2016	50		—
Other	1		1
	2,715		2,918
Less current portion	10		260
	$	2,705	$	2,658

Gain Or Loss On The Hedged Item And Offsetting Gain Or Loss On Interest Rate Swaps

The gain or (loss) on the hedged item (fixed rate debt) and the offsetting gain or (loss) on the interest rate swaps for the year-to-date periods ended March 31, 2013 and 2012 are as follows:

	2013							2012
Income statement classification    (In millions of dollars)	Loss on Swaps			Gain on Notes		Net Income Effect		Loss on Swaps			Gain on Notes		Net Income Effect
Other Operating Expenses	$	(1	)	$	1	$	—	$	(1	)	$	1	$	—

Estimated Fair Value Of Significant Financial Instruments

The fair value amounts shown below are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or need to dispose of the financial instrument.

	March 31, 2013				December 31, 2012
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	10	$	10	$	260	$	261
Long-term debt	$	2,705	$	3,016	$	2,658	$	2,986