DEBT, CREDIT FACILITIES AND LEASE COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Debt Credit Facilities And Lease Commitments [Abstract]

Schedule of Debt Outstanding

At December 31, 2016 and 2015, the company had the following debt outstanding:

as of December 31 (in millions)	2016		2015
Line of credit	$	—	$	1,450
Commercial paper		—		300
Other short-term debt		—		25
Short-term debt	$	—	$	1,775

as of December 31 (in millions)	Effectiveinterest rate in 20161			20162			20152
5.9% notes due 2016		5.8	%		—			301
0.95% notes due 2016		1.2	%		—			500
1.85% notes due 2017		2.1	%		—			499
5.375% notes due 2018		5.7	%		—			501
1.85% notes due 2018		2.1	%		—			747
4.5% notes due 2019		4.5	%		—			530
4.25% notes due 2020		4.2	%		—			299
Variable-rate loan due 2020		1.0	%		294			281
1.7% notes due 2021		1.6	%		397			—
2.40% notes due 2022		2.5	%		208			211
3.2% notes due 2023		3.1	%		—			146
2.6% notes due 2026		2.2	%		744			—
7.65% debentures due 2027		7.7	%		5			5
6.625% debentures due 2028		6.7	%		99			100
6.25% notes due 2037		5.8	%		265			265
3.65% notes due 2042		3.7	%		6			6
4.5% notes due 2043		4.5	%		255			255
3.5% notes due 2046		3.0	%		439			—
Other		—			70			86
Total debt and capital lease obligations					2,782			4,732
Current portion					(3	)		(810	)
Long-term portion				$	2,779		$	3,922

¹ Excludes the effect of any related interest rate swaps.

² Book values include any discounts, premiums and adjustments related to hedging instruments.

Future Minimum Lease Payments and Debt Maturities

Future Minimum Lease Payments and Debt Maturities

as of and for the years ended December 31 (in millions)	Operating leases		Debtmaturities and capital leases
2017	$	129	$	3
2018		108		3
2019		85		3
2020		67		297
2021		58		403
Thereafter		216		2,085
Total obligations and commitments		663		2,794
Discounts, premiums, and adjustments relating to hedging instruments		—		(12	)
Total debt and lease obligations	$	663	$	2,782