LONG-TERM DEBT AND CREDIT AGREEMENTS

9 Months Ended

Sep. 30, 2014

Long Term Debt And Credit Agreements [Abstract]

Note 10. Long-term Debt and Credit Agreements

		September 30,		December 31,
		2014		2013

3.875% notes due 2014	$	-	$	600
Floating rate notes due 2015		700		700
5.40% notes due 2016		400		400
5.30% notes due 2017		400		400
5.30% notes due 2018		900		900
5.00% notes due 2019		900		900
4.25% notes due 2021		800		800
3.35% notes due 2023		300		300
5.70% notes due 2036		550		550
5.70% notes due 2037		600		600
5.375% notes due 2041		600		600
Industrial development bond obligations, floating
rate maturing at various dates through 2037		31		35
6.625% debentures due 2028		216		216
9.065% debentures due 2033		51		51
Other (including capitalized leases), 0.6%-9.5%
maturing at various dates through 2023		501		381
		6,949		7,433
Less: current portion		(189)		(632)
	$	6,760	$	6,801

The schedule of principal payments on long-term debt is as follows:

		September 30, 2014

2014	$	25
2015		910
2016		493
2017		457
2018		904
Thereafter		4,160
		6,949
Less: current portion		(189)
	$	6,760

In February 2014, the Company repaid its $600 million of 3.875 percent notes. The repayment was funded through the issuance of commercial paper.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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