DEBT AND FINANCING COSTS (Tables)

9 Months Ended

Sep. 30, 2012

Non-Recurring Fair Value Measurement

The following table presents the carrying amounts and estimated fair values of the Company’s outstanding debt:

	September 30, 2012				December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Money market lines of credit	$	64	$	64	$	31	$	31
Commercial paper		1,792		1,792		—		—
Notes and debentures		9,778		11,705		7,185		8,673
Total Debt	$	11,634	$	13,561	$	7,216	$	8,704

Financing Costs Net

Financing costs incurred during the periods comprised the following:

	For the Quarter  Ended September 30,						For the Nine Months  Ended September 30,
	2012			2011			2012			2011
	(In millions)
Interest expense	$	132		$	109		$	371		$	326
Amortization of deferred loan costs		2			1			5			4
Capitalized interest		(90	)		(69	)		(241	)		(193	)
Interest income		(4	)		(4	)		(10	)		(14	)
Financing costs, net	$	40		$	37		$	125		$	123