(9) DEBT

The components of debt as of September 30, 2014 and December 31, 2013 consisted of the following:


	September 30,		December 31,
	2014		2013
	(in millions)
Short-term debt:
7.15% Senior Notes due 2018	$	1	$	1
Total short-term debt		1		1

Long-term debt:
Variable rate (1.50% and 1.64% at September 30, 2014 and December 31, 2013, respectively) Credit Facility, expires December 2018		139		283
7.35% Senior Notes due 2017		15		15
7.125% Senior Notes due 2017		25		25
7.15% Senior Notes due 2018		28		28
7.5% Senior Notes due 2018		600		600
4.10% Senior Notes due 2022		1,000		1,000
Unamortized discount		(1)		(1)
Total long-term debt		1,806		1,950

Total debt	$	1,807	$	1,951

Credit Facility

Our credit facility provides a borrowing capacity of up to $2.0 billion and matures on December 2018 (“Credit Facility”), with options for two one-year extensions with participating lender approval. The amount available under the Credit Facility may be increased by $500 million upon our agreement with our participating lenders. The interest rate on the Credit Facility is calculated based on our credit rating and is currently 137.5 basis points over the current LIBOR. The Credit Facility is unsecured and is not guaranteed by any of our subsidiaries. The Credit Facility contains covenants that impose certain restrictions on us, including a financial covenant under which we may not issue total debt in excess of 60% of our total adjusted book capital. This financial covenant with respect to capitalization percentages excludes the effects of any full cost ceiling impairments (after December 31, 2011), certain hedging activities and our pension and other postretirement liabilities. As of September 30, 2014, we were in compliance with the covenants of our Credit Facility and other debt agreements.