Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Company's debt

The Company’s debt consisted of the following at March 31,2017 and December 31, 2016:

				March 31,		December 31,
(in millions)				2017		2016
Credit facility			$	-	$	-
5.5% unsecured senior notes due 2022				600		600
5.5% unsecured senior notes due 2023				1,550		1,550
4.375% unsecured senior notes due 2025				600		600
Unamortized original issue premium				21		22
Senior notes issuance costs, net				(30)		(31)
	Less: current portion			-		-
		Total long-term debt	$	2,741	$	2,741

Principal maturities of debt

Principal maturities of long-term debt outstanding at March 31,2017 were as follows:

(in millions)
Remaining 2017		$	-
2018			-
2019			-
2020			-
2021			-
2022			600
Thereafter			2,150
	Total	$	2,750

Interest expense

The following amounts have been incurred and charged to interest expense for thethree months ended March 31,2017 and 2016:

		Three Months Ended
		March 31,
(in millions)			2017		2016
Cash payments for interest		$	61	$	42
Non-cash interest			3		3
Net changes in accruals			(24)		9
	Total interest expense	$	40	$	54