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Debt (Tables)
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Summary of credit facilities
We had outstanding borrowings, letters of credit issued, and availability under our revolving credit facilities as follows (in millions):
 
 
 
 
 
 
June 30, 2016
 
 
Facility
Amount
 
Maturity Date
 
Outstanding
Borrowings
 
Letters of
Credit
 
Availability
Committed facilities:
 
 
 
 
 
 
 
 
 
 
Revolver
 
$
3,000

 
November 2020
 
$

 
$
53

 
$
2,947

VLP Revolver
 
$
750

 
November 2020
 
$
314

 
$

 
$
436

Canadian Revolver
 
C$
50

 
November 2016
 
C$

 
C$
10

 
C$
40

Accounts receivable
sales facility (a)
 
$
1,400

 
July 2016
 
$
100

 
$

 
$
1,110

Letter of credit facilities (b)
 
$
275

 
June 2016 and
November 2016
 
$

 
$
16

 
$
259

 
 
 
 
 
 
 
 
 
 
 
Uncommitted facilities:
 
 
 
 
 
 
 
 
 
 
Letter of credit facilities
 
$
700

 
N/A
 
$

 
$
189

 
$
511


___________________
(a)
As of June 30, 2016, the actual availability under the accounts receivable sales facility fell below the facility borrowing capacity to $1.2 billion primarily due to a decrease in eligible trade receivables as a result of the current market price environment for the finished products that we produce.
(b)
In July 2016, we amended one of our committed letter of credit facilities to extend the maturity date from June 2016 to June 2017.