	June 30,		December 31,
(In millions)	2015		2014
Short-term:
Commercial paper	$	100	$	100
Other, including capital leases		50		47
Total short-term debt	$	150	$	147
Long-term:
Uncollateralized debt:
$600 million, 2.75% Notes due 2016	$	-	$	600
$250 million, 5.375% Notes due 2017		250		250
$131 million, 6.35% Notes due 2018		131		131
$251 million, 8.5% Notes due 2019		-		251
$250 million, 4.375% Notes due 2020 ⁽¹⁾		254		254
$300 million, 5.125% Notes due 2020 ⁽¹⁾		303		303
$78 million, 6.37% Notes due 2021		78		78
$300 million, 4.5% Notes due 2021⁽¹⁾		303		303
$750 million, 4% Notes due 2022		745		745
$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		899		-
$300 million, 7.875% Debentures due 2027		300		300
$83 million, 8.3% Step Down Notes due 2033		83		83
$500 million, 6.15% Notes due 2036		500		500
$300 million, 5.875% Notes due 2041		298		298
$750 million, 5.375% Notes due 2042		750		750
Other, including capital leases		35		42
Total long-term debt	$	5,046	$	5,005

(1) The Company has entered into interest rate swap contracts hedging a portion of these fixed-rate debt instruments. See Note 9 for further information about the Company's interest rate risk management and these derivative instruments.

On March 11, 2015, the Company issued $900 million of 10-Year Notes due April 15, 2025 at a stated interest rate of 3.25% ($899 million, net of discount, with an effective annual interest rate of 3.36%). Interest is payable on April 15 and October 15 of each year beginning October 15, 2015. The proceeds of this debt were used to repay debt maturing in 2016 and in 2019 as described below.

The Company may redeem the newly issued Notes, at any time, in whole or in part, at a redemption price equal to the greater of:

In April 2015, the Company redeemed its 2.75% Notes due 2016, including accrued interest from November 15, 2014 through the settlement date of April 13, 2015. The redemption price equaled the present value of the remaining principal and interest payments on the Notes being redeemed, discounted at a rate equal to the 10‐year Treasury Rate plus a fixed spread of 30 basis points. The Company paid $626 million, including accrued interest and expenses, to settle the Notes, resulting in an after‐tax loss on early debt extinguishment of $14 million that was recognized in the second quarter of 2015.

In April 2015, the Company redeemed its 8.50% Notes due 2019, including accrued interest from November 1, 2014 through the settlement date of April 13, 2015. The redemption price equaled the present value of the remaining principal and interest payments on the Notes being redeemed, discounted at a rate equal to the 10‐year Treasury Rate plus a fixed spread of 50 basis points. The Company paid $329 million, including accrued interest and expenses, to settle the Notes, resulting in an after‐tax loss on early debt extinguishment of $51 million that was recognized in the second quarter of 2015.

The Company has a five-year revolving credit and letter of credit agreement for $1.5 billion that permits up to $500 million to be used for letters of credit. This agreement extends through December 12, 2019 and is diversified among 16 banks, with three banks each having 12% of the commitment and the remainder spread among 13 banks. The credit agreement includes options subject to consent by the administrative agent and the committing banks to increase the commitment amount to $2 billion and to extend the term past December 12, 2019. The credit agreement is available for general corporate purposes, including for the issuance of letters of credit. The credit agreement contains customary covenants and restrictions, including a financial covenant that the Company may not permit its leverage ratio – which is total consolidated debt to total consolidated capitalization (each as defined in the credit agreement) – to be greater than 0.50. The leverage ratio calculation excludes net unrealized appreciation in fixed maturities and the portion of the post-retirement benefits liability adjustment attributable to pension as included in accumulated other comprehensive loss on the Company's consolidated balance sheets.

In addition to the $5.2 billion of debt outstanding as of June 30, 2015, the Company had $7.1 billion of borrowing capacity within the maximum debt coverage covenant in the letter of credit agreement. This additional borrowing capacity includes the $1.5 billion available under the credit agreement. Letters of credit outstanding as of June 30, 2015 totaled $19 million.