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Debt (Tables)
6 Months Ended
Jun. 30, 2011
Debt  
Schedule of Debt Instruments

 

 

 

 

Outstanding Balance

 

Stated Interest Rate

 

 

 

June 30,
2011

 

December 31,
2010

 

June 30,
2011

 

December 31,
2010

 

 

 

(in millions)

 

 

 

 

 

Senior notes due 2015

 

$

737

(1)

$

728

(1)

5.7

%

5.7

%

Senior notes due 2019

 

317

(1)

312

(1)

7.3

 

7.3

 

Senior notes due 2020

 

770

(1)

763

(1)

5.3

 

5.3

 

Senior notes due 2039

 

200

 

200

 

7.8

 

7.8

 

Junior subordinated notes due 2066

 

308

 

308

 

7.5

 

7.5

 

Municipal bond inverse floater certificates due 2021

 

 

6

 

 

0.3

 

Total long-term debt

 

2,332

 

2,317

 

 

 

 

 

Short-term borrowings

 

505

 

397

 

0.3

 

0.3

 

Total

 

$

2,837

 

$

2,714

 

 

 

 

 

 

 

(1)    Amounts include adjustments for fair value hedges on the Company’s long-term debt and any unamortized discounts. See Note 12 for information on the Company’s fair value hedges.