Long-Term Debt and Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2015

Long-Term Debt and Short-Term Borrowings

Schedule of Long-Term Debt

Long-Term Debt

	Currency/	Effective		Final
(Millions)	Fixed vs.	Interest		Maturity	Carrying Value
Description / 2015 Principal Amount	Floating	Rate		Date	2015		2014
Medium-term note ($1 billion)	USD Fixed	1.62	%	2016	$	999	$	996
Medium-term note ($650 million)	USD Fixed	1.10	%	2017		648		647
Medium-term note (500 million Euros)	Euro Floating	0.16	%	2018		545		606
Medium-term note ($450 million)	USD Floating	0.44	%	2018		448		—
Medium-term note ($600 million)	USD Floating	0.55	%	2019		597		592
Medium-term note ($25 million)	USD Fixed	1.74	%	2019		25		25
Medium-term note (650 million Euros)	Euro Floating	0.15	%	2020		708		—
Medium-term note ($300 million)	USD Floating	0.61	%	2020		297		—
Medium-term note ($200 million)	USD Fixed	2.12	%	2020		198		—
Eurobond (300 million Euros)	Euro Floating	0.21	%	2021		348		389
Eurobond (300 million Euros)	Euro Fixed	1.97	%	2021		326		361
Medium-term note ($600 million)	USD Fixed	2.17	%	2022		592		591
Medium-term note (600 million Euros)	Euro Fixed	1.14	%	2023		644		—
Medium-term note ($550 million)	USD Fixed	3.04	%	2025		545		—
Medium-term note (750 million Euros)	Euro Fixed	1.71	%	2026		801		892
30-year debenture ($330 million)	USD Fixed	6.01	%	2028		343		344
Medium-term note (500 million Euros)	Euro Fixed	1.90	%	2030		533		—
30-year bond ($750 million)	USD Fixed	5.73	%	2037		743		742
Floating rate note ($96 million)	USD Floating	0.22	%	2041		96		96
Medium-term note ($325 million)	USD Fixed	4.05	%	2044		313		312
Floating rate note ($55 million)	USD Floating	0.16	%	2044		55		55
Other borrowings	Various	0.22	%	2016-2040		74		112
Total long-term debt					$	9,878	$	6,760
Less: current portion of long-term debt						1,125		55
Long-term debt (excluding current portion)					$	8,753	$	6,705

Schedule of Post-Swap Borrowing (Long-Term Debt, Including Current Portion)

Post-Swap Borrowing (Long-Term Debt, Including Current Portion)

	2015				2014
	Carrying		Effective		Carrying		Effective
(Millions)	Value		Interest Rate		Value		Interest Rate
Fixed-rate debt	$	6,712	2.54	%	$	4,911	2.74	%
Floating-rate debt		3,166	0.32	%		1,849	0.53	%
Total long-term debt, including current portion	$	9,878			$	6,760

Schedule of Short-Term Borrowings and Current Portion of Long-Term Debt

Short-Term Borrowings and Current Portion of Long-Term Debt

	Effective		Carrying Value
(Millions)	Interest Rate		2015		2014
Current portion of long-term debt	1.45	%	$	1,125	$	55
U.S. dollar commercial paper	—	%		—		—
Other borrowings	1.01	%		919		51
Total short-term borrowings and current portion of long-term debt			$	2,044	$	106

Schedule of Maturities of Long-Term Debt

Maturities of Long-term Debt

Maturities of long-term debt for the five years subsequent of December 31, 2015 are as follows (in millions):

										After
2016		2017		2018		2019		2020		2020		Total
$	1,125	$	744	$	993	$	622	$	1,203	$	5,191	$	9,878