LONG-TERM DEBT AND CREDIT AGREEMENTS

3 Months Ended

Mar. 31, 2013

Long Term Debt And Credit Agreements [Abstract]

Long-term Debt and Credit Agreements

Note 10. Long-term Debt and Credit Agreements

		March 31,		December 31,
		2013		2012
4.25% notes due 2013	$	-	$	600
3.875% notes due 2014		600		600
5.40% notes due 2016		400		400
5.30% notes due 2017		400		400
5.30% notes due 2018		900		900
5.00% notes due 2019		900		900
4.25% notes due 2021		800		800
5.375% notes due 2041		600		600
Industrial development bond obligations, floating
rate maturing at various dates through 2037		37		37
6.625% debentures due 2028		216		216
9.065% debentures due 2033		51		51
5.70% notes due 2036		550		550
5.70% notes due 2037		600		600
Other (including capitalized leases), 0.2%-9.5%
maturing at various dates through 2023		359		366
		6,413		7,020
Less: current portion		(626)		(625)
	$	5,787	$	6,395

The schedule of principal payments on long term debt is as follows:
			March 31, 2013
	2013	$	25
	2014		664
	2015		54
	2016		454
	2017		409
	Thereafter		4,807
			6,413
	Less: current portion		(626)
		$	5,787

In the first quarter of 2013, the Company repaid $600 million of its 4.25% notes. The repayment was funded with the issuance of commercial paper.

As a source of liquidity, we sell interests in designated pools of trade accounts receivables to third parties. As of March 31, 2013 and December 31, 2012 none of the receivables in the designated pools had been sold to third parties. When we sell receivables, they are over-collateralized and we retain a subordinated interest in the pool of receivables representing that over-collateralization as well as an undivided interest in the balance of the receivables pools. The terms of the trade accounts receivable program permit the repurchase of receivables from the third parties at our discretion, providing us with an additional source of revolving credit. As a result, program receivables remain on the Company's balance sheetwith a corresponding amount recorded as Short-term borrowings.