Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Company’s outstanding debt

The Company’s outstanding debt is as follows:

December 31,
(In millions)	2018		2017
Short-term:
Current portion of long-term debt	314		262
	314		262
Long-term:
Senior notes – 2.55% due 2018	—		250
Senior notes – 2.35% due 2019	300		299
Senior notes – 2.35% due 2020	499		498
Senior notes – 4.80% due 2021	499		498
Senior notes – 2.75% due 2022	497		496
Senior notes – 3.30% due 2023	348		348
Senior notes – 4.05% due 2023	249		248
Senior notes – 3.50% due 2024	597		596
Senior notes – 3.50% due 2025	496		496
Senior notes – 3.75% due 2026	596		596
Senior notes – 5.875% due 2033	297		297
Senior notes – 4.35% due 2047	492		492
Senior notes – 4.20% due 2048	592		—
Mortgage – 5.70% due 2035	358		370
Other	4		3
	5,824		5,487
Less current portion	314		262
	$	5,510	$	5,225

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, 2018				December 31, 2017
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	314	$	313	$	262	$	264
Long-term debt	$	5,510	$	5,437	$	5,225	$	5,444