Bank Financing and Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following table sets forth the Company’s debt.

	At			At
	June 30, 2019			December 31, 2018
Commercial paper		$	—		$	674
Senior debt (2.30% - 7.875% due 2019 - 2045) (a)		9,332			9,435
Obligations under finance leases		38			43
Total debt		9,370			10,152
Less commercial paper		—			674
Less current portion of long-term debt		11			13
Total long-term debt, net of current portion		$	9,359		$	9,465

(a) At June 30, 2019 and December 31, 2018, the senior debt balances included (i) a net unamortized discount of $59 million and $58 million, respectively, (ii) unamortized deferred financing costs of $43 million at both June 30, 2019 and December 31, 2018, and (iii) a decrease in the carrying value of the debt relating to previously settled fair value hedges of $6 million and $5 million, respectively. The face value of the Company’s senior debt was $9.44 billion and $9.54 billion at June 30, 2019 and December 31, 2018, respectively.