Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt [Table] [Abstract]

Short-term and Long-term Debt

(In millions)	2015		2014 (1)
Short-term:
Commercial paper	$	100	$	100
Other, including capital leases		49		47
Total short-term debt	$	149	$	147
Long-term:
Uncollateralized debt:
$600 million, 2.75% Notes due 2016	$	-	$	598
$250 million, 5.375% Notes due 2017		249		249
$131 million, 6.35% Notes due 2018		131		131
$251 million, 8.5% Notes due 2019		-		250
$250 million, 4.375% Notes due 2020 (2)		254		253
$300 million, 5.125% Notes due 2020 (2)		303		302
$78 million, 6.37% Notes due 2021		78		78
$300 million, 4.5% Notes due 2021 (2)		304		301
$750 million, 4% Notes due 2022		743		741
$100 million, 7.65% Notes due 2023		100		100
$17 million, 8.3% Notes due 2023		17		17
$900 million, 3.25% Notes due 2025		892		-
$300 million, 7.875% Debentures due 2027		299		298
$83 million, 8.3% Step Down Notes due 2033		82		82
$500 million, 6.15% Notes due 2036		498		498
$300 million, 5.875% Notes due 2041		295		295
$750 million, 5.375% Notes due 2042		743		743
Other, including capital leases		32		43
Total long-term debt	$	5,020	$	4,979
(1) As explained in Note 2(B), in the fourth quarter of 2015, the Company retrospectively adopted ASU 2015-03 that requires debt issuance costs to be netted against the carrying value of the debt. Amounts presented above for 2014 have been retrospectively adjusted to conform to the new guidance. The impact on 2014 balances was not material.
(2) The Company has entered into interest rate swap contracts hedging a portion of these fixed-rate debt instruments. See Note 12 for further information about the Company’s interest rate risk management and these derivative instruments.