Bank Financing and Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Debt

The following table sets forth the Company’s debt.

	At			At
	March 31, 2017			December 31, 2016
Commercial paper		$	30		$	450
Senior debt (1.95% - 7.875% due 2017 - 2045) (a)		8,851			8,850
Obligations under capital leases		72			75
Total debt		8,953			9,375
Less commercial paper		30			450
Less current portion of long-term debt		23			23
Total long-term debt, net of current portion		$	8,900		$	8,902

(a) At March 31, 2017 and December 31, 2016, the senior debt balances included (i) a net unamortized discount of $50 million and $52 million, respectively, (ii) unamortized deferred financing costs of $42 million and $43 million, respectively, and (iii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $4 million and $5 million, respectively. The face value of the Company’s senior debt was $8.94 billion at both March 31, 2017 and December 31, 2016.