Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Long-term debt

	As of December 31,
In millions	2015		2014
6.400% Senior Notes due 2022 (1)	$	266	$	266
7.000% Debentures due 2025		46		56
7.150% Debentures due 2027		100		100
6.625% Debentures due 2028		141		141
5.700% Senior Notes due 2034 (2)		21		21
Accrued interest		8		8
		582		592
14% Surplus Notes due 2033 (3)		940		940
Accrued interest		386		278
Total	$	1,908	$	1,810
________________
(1) - Callable on or after August 15, 2006 at 100.00.
(2) - Callable anytime at the greater of 100.00 or the present value of the remaining scheduled
payments of principal and interest.
(3) - Callable on or after January 15, 2018 and every fifth anniversary thereafter at 100.00.

Aggregate maturity of debt obligations

In millions	2016		2017		2018		2019		2020		Thereafter		Total
Corporate debt	$	-	$	-	$	-	$	-	$	-	$	574	$	574
14% Surplus Notes due 2033 (1)		-		-		940		-		-		-		940
Total debt obligations due	$	-	$	-	$	940	$	-	$	-	$	574	$	1,514
__________
(1) - Callable on or after January 15, 2018 and every fifth anniversary thereafter at 100.00 subject to the prior approval by the Superintendent of the NYSDFS.

Principal payments due under investment agreement obligations

	Principal
In millions	Amount
Maturity date:
2016	$	36
2017		55
2018		17
2019		7
2020		37
Thereafter		373
Total expected principal payments (1)	$	525
Less discount and other adjustments (2)		63
Total	$	462
________________
(1)- Amounts reflect principal due at maturity for investment agreements issued at a discount.
(2)- Includes discounts of $69 million on investment agreements, net of accrued interest of $6 million.

Principal payments due under medium-term note obligations based on contractual maturity

	Principal
In millions	Amount
Maturity date:
2016	$	112
2017		39
2018		59
2019		55
2020		1
Thereafter		1,098
Total expected principal payments (1)	$	1,364
Less discount and other adjustments (2)		348
Total	$	1,016
________________
(1)- Amounts reflect principal due at maturity for notes issued at a discount or premium.
(2)- Includes discounts of $296 million, fair value adjustments of $56 million, net of accrued interest of $4 million.

Maturity of VIE notes, by segment

In millions
Maturity date:
2016	$	567
2017		516
2018		505
2019		364
2020		314
Thereafter		2,785
Total	$	5,051 (1)
_______________
(1) - Includes $2.4 billion of VIE notes accounted for at fair value as of December 31, 2015.