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

12 Months Ended

Dec. 31, 2016

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 / 2016 Principal Amount	Floating	Rate		Date	2016		2015
Medium-term note ($1 billion)	USD Fixed	—	%	—	$	—	$	999
Medium-term note ($650 million)	USD Fixed	1.10	%	2017		649		648
Medium-term note (500 million Euros)	Euro Floating	—	%	2018		523		545
Medium-term note ($450 million)	USD Floating	0.98	%	2018		448		448
Medium-term note ($600 million)	USD Floating	1.00	%	2019		598		597
Medium-term note ($25 million)	USD Fixed	1.74	%	2019		25		25
Medium-term note (650 million Euros)	Euro Floating	—	%	2020		680		708
Medium-term note ($300 million)	USD Floating	1.06	%	2020		297		297
Medium-term note ($200 million)	USD Fixed	2.12	%	2020		199		198
Eurobond (300 million Euros)	Euro Floating	0.01	%	2021		336		348
Eurobond (300 million Euros)	Euro Fixed	1.97	%	2021		312		326
Medium-term note ($600 million)	USD Fixed	1.63	%	2021		598		—
Medium-term note (500 million Euros)	Euro Fixed	0.45	%	2022		520		—
Medium-term note ($600 million)	USD Fixed	2.17	%	2022		593		592
Medium-term note (600 million Euros)	Euro Fixed	1.14	%	2023		619		644
Medium-term note ($550 million)	USD Fixed	3.04	%	2025		546		545
Medium-term note (750 million Euros)	Euro Fixed	1.71	%	2026		770		801
Medium-term note ($650 million)	USD Fixed	2.25	%	2026		640		—
30-year debenture ($330 million)	USD Fixed	6.01	%	2028		342		343
Medium-term note (500 million Euros)	Euro Fixed	1.90	%	2030		512		533
Medium-term note (500 million Euros)	Euro Fixed	1.54	%	2031		518		—
30-year bond ($750 million)	USD Fixed	5.73	%	2037		743		743
Floating rate note ($96 million)	USD Floating	0.65	%	2041		96		96
Medium-term note ($325 million)	USD Fixed	4.05	%	2044		313		313
Floating rate note ($55 million)	USD Floating	0.61	%	2044		54		55
Medium-term note ($500 million)	USD Fixed	3.13	%	2046		473		—
Other borrowings	Various	0.82	%	2017-2040		74		74
Total long-term debt					$	11,478	$	9,878
Less: current portion of long-term debt						800		1,125
Long-term debt (excluding current portion)					$	10,678	$	8,753

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

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

	2016				2015
	Carrying		Effective		Carrying		Effective
(Millions)	Value		Interest Rate		Value		Interest Rate
Fixed-rate debt	$	8,372	2.42	%	$	6,712	2.54	%
Floating-rate debt		3,106	0.48	%		3,166	0.32	%
Total long-term debt, including current portion	$	11,478			$	9,878

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		2016		2015
Current portion of long-term debt	1.01	%	$	800	$	1,125
U.S. dollar commercial paper	—	%		—		—
Other borrowings	0.48	%		172		919
Total short-term borrowings and current portion of long-term debt			$	972	$	2,044

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, 2016 are as follows (in millions):

										After
2017		2018		2019		2020		2021		2021		Total
$	800	$	1,042	$	623	$	1,176	$	1,246	$	6,591	$	11,478