Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Company’s outstanding debt

The Company’s outstanding debt is as follows:

December 31,
(In millions)	2017		2016
Short-term:
Commercial paper	$	—	$	50
Current portion of long-term debt	262		262
	262		312
Long-term:
Senior notes – 2.30% due 2017	—		250
Senior notes – 2.55% due 2018	250		249
Senior notes – 2.35% due 2019	299		299
Senior notes – 2.35% due 2020	498		497
Senior notes – 4.80% due 2021	498		498
Senior notes – 2.75% due 2022	496		—
Senior notes – 3.30% due 2023	348		347
Senior notes – 4.05% due 2023	248		248
Senior notes – 3.50% due 2024	596		596
Senior notes – 3.50% due 2025	496		495
Senior notes – 3.75% due 2026	596		596
Senior notes – 5.875% due 2033	297		297
Senior notes – 4.35% due 2047	492		—
Mortgage – 5.70% due 2035	370		382
Other	3		3
	5,487		4,757
Less current portion	262		262
	$	5,225	$	4,495

Estimated fair value of short-term and long-term debt

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.

	December 31, 2017				December 31, 2016
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	262	$	264	$	312	$	313
Long-term debt	$	5,225	$	5,444	$	4,495	$	4,625