Debt (Tables)

9 Months Ended

Sep. 30, 2018

The following table sets forth our outstanding debt:



	September 30, 2018		December 31, 2017
	(In millions)
7.456% senior notes due 2018	$	—	$	500
5.95% senior notes due 2020	748		748
2.5% (€650 million) senior notes due 2022	750		775
4.5% senior notes due 2024	496		495
5.0% senior notes due 2026	742		741
3.8% senior notes due 2028	991		990
Total debt⁽¹⁾	3,727		4,249
Current maturities of long-term debt	—		(500		)
Long-term debt, excluding current maturities	$	3,727	$	3,749

_______________


(1)	Net of applicable discounts and debt issuance costs.

Level 2

Long Term Debt Outstanding

The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs):



	September 30, 2018		December 31, 2017
	(In millions)
7.456% senior notes due 2018	$	—	$	516
5.95% senior notes due 2020	784		810
2.5% (€650 million) senior notes due 2022 ⁽¹⁾	793		828
4.5% senior notes due 2024	504		528
5.0% senior notes due 2026	767		807
3.8% senior notes due 2028	926		969

_______________


(1)	Approximately 683 million Euro as of September 30, 2018 and 690 million Euro as of December 31, 2017.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details