Notes Payable (Tables)

12 Months Ended

Dec. 31, 2018

Debt

Schedule of notes and bonds issued during the year

During the three year period ended December 31, 2018 we issued the following notes and bonds (dollars in millions):

2018 Issuances	Date of Issuance	Maturity date	Principal amount issued	Public offering price		Effective yield to maturity
3.875% notes	April 2018	April 2025	$500	99.50	%	3.96%

2017 Issuances
4.125% notes	March 2017	October 2026 (1)	$400	102.98	%	3.75%
4.650% notes	March 2017	March 2047	$300	99.97	%	4.65%
3.250% notes	December 2017	October 2022 (2)	$500	101.77	%	2.84%
3.650% notes	December 2017	January 2028	$550	99.78	%	3.68%
4.650% notes	December 2017	March 2047 (3)	$250	105.43	%	4.32%

2016 Issuances
3.000% notes	October 2016	January 2027	$600	98.67	%	3.15%

⁽¹⁾   This issuance constituted a further issuance of, and formed a single series with the senior notes due 2026 issued in September 2014.

⁽²⁾   This issuance constituted a further issuance of, and formed a single series with the senior notes due 2022 issued in October 2012.

⁽³⁾   This issuance constituted a further issuance of, and formed a single series with the senior notes due 2047 issued in March 2017.

Notes Payable

Debt

Schedule of unsecured notes and bonds

Our senior unsecured notes and bonds consist of the following, sorted by maturity date (dollars in millions):

	December 31, 2018			December 31, 2017
2.000% notes, issued in October 2012 and due in January 2018	$	—		$	350
5.750% notes, issued in June 2010 and due in January 2021	250			250
3.250% notes, $450 issued in October 2012 and $500 issued in December 2017, both due in October 2022	950			950
4.650% notes, issued in July 2013 and due in August 2023	750			750
3.875% notes, issued in June 2014 and due in July 2024	350			350
3.875% notes, issued April 2018 and due in April 2025	500			—
4.125% notes, $250 issued in September 2014 and $400 issued in March 2017, both due in October 2026	650			650
3.000% notes, issued in October 2016 and due in January 2027	600			600
3.650% notes, issued in December 2017 and due in January 2028	550			550
5.875% bonds, $100 issued in March 2005 and $150 issued in June 2011, both due in March 2035	250			250
4.650% notes, $300 issued in March 2017 and $250 issued in December 2017, both due in March 2047	550			550
Total principal amount	5,400			5,250
Unamortized net original issuance premiums and deferred financing costs	(23		)	(20		)
	$	5,377		$	5,230

Schedule of maturity of debt, net

The following table summarizes the maturity of our notes and bonds payable as of December 31, 2018, excluding unamortized net original issuance premiums and deferred financing costs (dollars in millions):

Year of Maturity	Principal
2021	$	250
2022	950
2023	750
Thereafter	3,450
Totals	$	5,400