Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Long-Term Debt

We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table as of the end of the 2016 third quarter and year-end 2015:

	At Period End
($ in millions)	September 30, 2016			December 31, 2015
Senior Notes:
Series H Notes, interest rate of 6.2%, face amount of $289, matured June 15, 2016 (effective interest rate of 6.3%)	$	—		$	289
Series I Notes, interest rate of 6.4%, face amount of $293, maturing June 15, 2017 (effective interest rate of 6.5%)	293			293
Series K Notes, interest rate of 3.0%, face amount of $600, maturing March 1, 2019 (effective interest rate of 4.4%)	596			595
Series L Notes, interest rate of 3.3%, face amount of $350, maturing September 15, 2022 (effective interest rate of 3.4%)	348			348
Series M Notes, interest rate of 3.4%, face amount of $350, maturing October 15, 2020 (effective interest rate of 3.6%)	347			347
Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021 (effective interest rate of 3.4%)	396			395
Series O Notes, interest rate of 2.9%, face amount of $450, maturing March 1, 2021 (effective interest rate of 3.1%)	446			446
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)	344			343
Series Q Notes, interest rate of 2.3%, face amount of $750, maturing January 15, 2022 (effective interest rate of 2.5%)	742			—
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)	742			—
Commercial paper	1,599			938
Credit Facility	989			—
Other	105			113
Starwood debt:
2018 Senior Notes, interest rate of 6.8%, face amount $371, maturing May 15, 2018 (effective interest rate of 1.6%)	403			—
2019 Senior Notes, interest rate of 7.2%, face amount $210, maturing December 1, 2019 (effective interest rate of 2.2%)	245			—
2023 Senior Notes, interest rate of 3.1%, face amount $350, maturing February 15, 2023 (effective interest rate of 3.1%)	350			—
2025 Senior Notes, interest rate of 3.8%, face amount $350, maturing March 15, 2025 (effective interest rate of 2.8%)	375			—
2034 Senior Notes, interest rate of 4.5%, face amount $300, maturing October 1, 2034 (effective interest rate of 4.1%)	317			—
Capital lease obligations	167			—
Mortgages and other, interest rates ranging from non-interest bearing to 3.7%, various maturities	18			—
	8,822			4,107
Less: Current portion of long-term debt	(316		)	(300		)
	$	8,506		$	3,807

Debt Principal Payments (Net of Discounts, Premiums, and Debt Issuance Costs)

The following table presents future principal payments, net of discounts, premiums, and debt issuance costs, that are due for our debt as of the end of the 2016 third quarter:

Debt Principal Payments ($ in millions)	Amount
2016, remaining	$	17
2017	305
2018	416
2019	856
2020	363
Thereafter	6,865
Balance at September 30, 2016	$	8,822