Debt

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Debt [Text Block]

Note 14― Debt

Short-term and long-term debt were as follows:

	September 30,		December 31,
(In millions)	2012		2011
Short-term:
Commercial paper	$	225	$	100
Current maturities of long-term debt		1		4
Total short-term debt	$	226	$	104
Long-term:
Uncollateralized debt:
2.75% Notes due 2016	$	600	$	600
5.375% Notes due 2017		250		250
6.35% Notes due 2018		131		131
8.5% Notes due 2019		251		251
4.375% Notes due 2020		249		249
5.125% Notes due 2020		299		299
6.37% Notes due 2021		78		78
4.5% Notes due 2021		298		298
4% Notes due 2022		743		743
7.65% Notes due 2023		100		100
8.3% Notes due 2023		17		17
7.875% Debentures due 2027		300		300
8.3% Step Down Notes due 2033		83		83
6.15% Notes due 2036		500		500
5.875% Notes due 2041		298		298
5.375% Notes due 2042		750		750
Other		39		43
Total long-term debt	$	4,986	$	4,990

As further described in Note 3, the Company acquired HealthSpring on January 31, 2012. At the acquisition date, HealthSpring had $326 million of debt outstanding. In accordance with debt covenants, HealthSpring's debt obligation was paid immediately following the acquisition. This repayment is reported as a financing activity in the statement of cash flows for the nine months ended September 30, 2012.

The Company has a committed revolving credit and a letter of credit agreement in place for up to $1.5 billion subject to the maximum debt leverage covenant agreement. As of September 30, 2012, the Company had $1.4 billion of borrowing capacity under this credit agreement, reflecting $66 million of letters of credit issued out of the credit facility. Within the maximum debt leverage covenant in the line of credit agreement, the Company has an additional $4.9 billion of borrowing capacity in addition to the $5.2 billion of debt outstanding.