Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The Company’s outstanding debt is as follows:

(In millions of dollars)	June 30, 2016		December 31, 2015
Short-term:
Current portion of long-term debt	$	261	$	12
Long-term:
Senior notes – 2.30% due 2017	250		249
Senior notes – 2.55% due 2018	249		249
Senior notes – 2.35% due 2019	298		298
Senior notes – 2.35% due 2020	497		496
Senior notes – 4.80% due 2021	498		497
Senior notes – 3.30% due 2023	347		—
Senior notes – 4.05% due 2023	248		248
Senior notes – 3.50% due 2024	595		595
Senior notes – 3.50% due 2025	495		495
Senior notes – 3.750% due 2026	595		595
Senior notes – 5.875% due 2033	297		297
Mortgage – 5.70% due 2035	387		393
Other	1		2
	4,757		4,414
Less current portion	261		12
	$	4,496	$	4,402

Estimated Fair Value Of Significant Financial Instruments

The estimated fair value of the Company’s short-term and long-term debt is provided below. Certain estimates and judgments were required to develop the fair value amounts. 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.

	June 30, 2016				December 31, 2015
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	261	$	264	$	12	$	12
Long-term debt	$	4,496	$	4,755	$	4,402	$	4,513