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Debt (Tables)
9 Months Ended
Sep. 30, 2011
Debt 
Schedule of Debt Instruments

 

 

 

 

Outstanding Balance

 

Stated Interest Rate

 

 

 

September 30,
2011

 

December 31,
2010

 

September 30,
2011

 

December 31,
2010

 

 

 

(in millions)

 

 

 

 

 

Senior notes due 2015

 

$

755

(1)

$

728

(1)

5.7

%

5.7

%

Senior notes due 2019

 

340

(1)

312

(1)

7.3

 

7.3

 

Senior notes due 2020

 

803

(1)

763

(1)

5.3

 

5.3

 

Senior notes due 2039

 

200

 

200

 

7.8

 

7.8

 

Junior subordinated notes due 2066

 

306

 

308

 

7.5

 

7.5

 

Municipal bond inverse floater certificates due 2021

 

 

6

 

 

0.3

 

Total long-term debt

 

2,404

 

2,317

 

 

 

 

 

Short-term borrowings

 

504

 

397

 

0.2

 

0.3

 

Total

 

$

2,908

 

$

2,714

 

 

 

 

 

 

 

(1)        Amounts include adjustments for fair value hedges on the Company’s long-term debt and any unamortized discounts. See Note 10 for information on the Company’s fair value hedges.