DEBT

Long-Term Debt

Long-term debt at March 31, 2016 and December 31, 2015 consisted of the following:



	March 31, 2016			December 31, 2015

Secured Receivables Credit Facility (1.20% at March 31, 2016)	$	410		$	—
3.20% Senior Notes due April 2016	150			150
2.70% Senior Notes due April 2019	300			300
4.75% Senior Notes due January 2020	526			522
2.50% Senior Notes due March 2020	299			299
4.70% Senior Notes due April 2021	566			554
4.25% Senior Notes due April 2024	324			313
3.50% Senior Notes due March 2025	609			601
6.95% Senior Notes due July 2037	174			247
5.75% Senior Notes due January 2040	244			368
4.70% Senior Notes due March 2045	300			300
Other	19			22
Debt issuance costs	(23		)	(25		)
Total long-term debt	3,898			3,651
Less: Current portion of long-term debt	158			159
Total long-term debt, net of current portion	$	3,740		$	3,492

Retirement of Debt

In March 2016, the Company completed a cash tender offer to purchase up to $200 million aggregate principal amount of its 6.95% Senior Notes due July 2037 ("Senior Notes due 2037") and 5.75% Senior Notes due January 2040 ("Senior Notes due 2040"). The Company purchased $73 million of its Senior Notes due 2037 and $127 million of its Senior Notes due 2040.

In March 2015, the Company completed a cash tender offer to purchase up to $250 million aggregate principal amount of its Senior Notes due 2037 and Senior Notes due 2040. The Company purchased $176 million of its Senior Notes due 2037 and $74 million of its Senior Notes due 2040.

In connection with the March 2016 and 2015 cash tender offers, the Company recorded losses on retirement of debt, principally comprised of premiums paid, of $48 million and $79 million in other expense, net for the three months ended March 31, 2016 and 2015, respectively.

Maturities of Long-Term Debt

As of March 31, 2016, long-term debt matures as follows:



Year Ending December 31,
Remainder of 2016	$	156
2017	416
2018	4
2019	302
2020	801
2021	550
Thereafter	1,625
Total maturities of long-term debt	3,854
Unamortized discount	(12		)
Debt issuance costs	(23		)
Fair value basis adjustments attributable to hedged debt	79
Total long-term debt	3,898
Less: Current portion of long-term debt	158
Total long-term debt, net of current portion	$	3,740

For further discussion regarding the Company's debt, see Note 13 to the consolidated financial statements in the Company's 2015 Annual Report on Form 10-K.