Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at June 30, 2015 and December 31, 2014:



	Total Carrying Value in the Consolidated Balance Sheet				Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(In millions)	2015		2014		2015		2014		2015		2014		2015		2014
Assets:
Investments	$	60	$	56	$	60	$	56	$	—	$	—	$	—	$	—
Foreign Exchange Contracts	13		30		—		—		13		30		—		—
Total Assets at Fair Value	$	73	$	86	$	60	$	56	$	13	$	30	$	—	$	—

Liabilities:
Foreign Exchange Contracts	$	16	$	4	$	—	$	—	$	16	$	4	$	—	$	—
Total Liabilities at Fair Value	$	16	$	4	$	—	$	—	$	16	$	4	$	—	$	—

Fair Value of Long-term Fixed Rate and Variable Rate Debt excluding Capital Leases

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding capital leases, at June 30, 2015 and December 31, 2014. Long term debt with a fair value of $4,546 million and $4,603 million at June 30, 2015 and December 31, 2014, respectively, was estimated using quoted Level 1 market prices. The remaining long term debt approximates fair value since the terms of the financing arrangements are similar to terms that could be obtained under current lending market conditions.



	June 30,		December 31,
(In millions)	2015		2014
Fixed Rate Debt:
Carrying amount — liability	$	4,079	$	4,132
Fair value — liability	4,331		4,225

Variable Rate Debt:
Carrying amount — liability	$	1,935	$	2,173
Fair value — liability	1,937		2,170