Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The Company’s outstanding debt is as follows:

(In millions of dollars)	March 31, 2014		December 31, 2013
Short-term:
Commercial paper	$	100	$	—
Current portion of long-term debt	332		334
	432		334
Long-term:
Senior notes – 5.875% due 2033	297		297
Senior notes – 5.375% due 2014	322		323
Senior notes – 5.75% due 2015	230		230
Senior notes – 2.30% due 2017	249		249
Senior notes – 9.25% due 2019	399		399
Senior notes – 4.80% due 2021	497		497
Senior notes – 2.55% due 2018	248		248
Senior notes – 4.05% due 2023	247		247
Mortgage – 5.70% due 2035	410		413
Term Loan Facility - due 2016	50		50
Other	2		2
	2,951		2,955
Less current portion	332		334
	$	2,619	$	2,621

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, 2014 and 2013 are as follows:

	2014							2013
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, 2014				December 31, 2013
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	432	$	439	$	334	$	334
Long-term debt	$	2,619	$	2,844	$	2,621	$	2,819