LONG-TERM DEBT AND CREDIT AGREEMENTS

12 Months Ended

Dec. 31, 2015

Long Term Debt And Credit Agreements [Abstract]

Note 12. Long-term Debt and Credit Agreements

		December 31,
		2015		2014
Floating rate notes due 2015		-		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		30		30
6.625% debentures due 2028		216		216
9.065% debentures due 2033		51		51
Other (including capitalized leases and debt issuance costs),
0.6%-9.5% maturing at various dates through 2023		384		538
		6,131		6,985
Less: current portion		(577)		(939)
	$	5,554	$	6,046

The schedule of principal payments on long-term debt is as follows:
		December 31,
		2015
2016	$	577
2017		490
2018		910
2019		902
2020		2
Thereafter		3,250
		6,131
Less-current portion		(577)
	$	5,554

On July 10, 2015, the Company entered into a $4 billion Amended and Restated Five Year Credit Agreement (Credit Agreement) with a syndicate of banks. Commitments under the Credit Agreement can be increased pursuant to the terms of the Credit Agreement to an aggregate amount not to exceed $4.5 billion. The Credit Agreement amends and restates the previous $4 billion five year credit agreement with substantially the same material terms and conditions. A full description of the Credit Agreement can be found in the Company’s Current Report on Form 8-K, dated July 10, 2015.

On September 30, 2015, the Company entered into a $3 billion 364-Day Credit Agreement (364-Day Credit Agreement) with a syndicate of banks. The 364-Day Credit Agreement is maintained for general corporate purposes including the Elster acquisition. A full description of the 364-Day Credit Agreement can be found in the Company’s Current Report on Form 8-K, dated October 1, 2015.