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Long-Term Debt and Short-Term Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2017
Long-Term Debt and Short-Term Borrowings |
Schedule of Long-Term Debt | Long-Term Debt
|  | Currency/ |  | Effective |  | Final |  |  |  |  |  |  |
(Millions) |  | Fixed vs. |  | Interest |  | Maturity |  | Carrying Value |
Description / 2017 Principal Amount |  | Floating |  | Rate |  | Date |  | 2017 |  | 2016 |
Medium-term note (repaid in 2017) |  | USD Fixed |  | — | % | — |  | $ | — |  | $ | 649 |
Medium-term note (500 million Euros) |  | Euro Floating |  | — | % | 2018 |  |  | 600 |  |  | 523 |
Medium-term note ($450 million) |  | USD Floating |  | 1.50 | % | 2018 |  |  | 448 |  |  | 448 |
Medium-term note ($600 million) |  | USD Floating |  | 1.63 | % | 2019 |  |  | 596 |  |  | 598 |
Medium-term note ($25 million) |  | USD Fixed |  | 1.74 | % | 2019 |  |  | 25 |  |  | 25 |
Medium-term note (650 million Euros) |  | Euro Floating |  | — | % | 2020 |  |  | 779 |  |  | 680 |
Medium-term note ($300 million) |  | USD Floating |  | 1.58 | % | 2020 |  |  | 296 |  |  | 297 |
Medium-term note ($200 million) |  | USD Floating |  | 1.49 | % | 2020 |  |  | 198 |  |  | 199 |
Eurobond (300 million Euros) |  | Euro Floating |  | — | % | 2021 |  |  | 378 |  |  | 336 |
Eurobond (300 million Euros) |  | Euro Fixed |  | 1.97 | % | 2021 |  |  | 358 |  |  | 312 |
Medium-term note ($600 million) |  | USD Fixed |  | 1.63 | % | 2021 |  |  | 598 |  |  | 598 |
Medium-term note (500 million Euros) |  | Euro Fixed |  | 0.45 | % | 2022 |  |  | 597 |  |  | 520 |
Medium-term note ($600 million) |  | USD Fixed |  | 2.17 | % | 2022 |  |  | 595 |  |  | 593 |
Medium-term note (600 million Euros) |  | Euro Fixed |  | 1.14 | % | 2023 |  |  | 712 |  |  | 619 |
Medium-term note ($650 million) |  | USD Fixed |  | 2.26 | % | 2023 |  |  | 647 |  |  | — |
Medium-term note ($550 million) |  | USD Fixed |  | 3.04 | % | 2025 |  |  | 546 |  |  | 546 |
Medium-term note (750 million Euros) |  | Euro Fixed |  | 1.71 | % | 2026 |  |  | 885 |  |  | 770 |
Medium-term note ($650 million) |  | USD Fixed |  | 2.25 | % | 2026 |  |  | 641 |  |  | 640 |
Medium-term note ($850 million) |  | USD Fixed |  | 2.95 | % | 2027 |  |  | 839 |  |  | — |
30-year debenture ($220 million) |  | USD Fixed |  | 6.01 | % | 2028 |  |  | 227 |  |  | 342 |
Medium-term note (500 million Euros) |  | Euro Fixed |  | 1.90 | % | 2030 |  |  | 589 |  |  | 512 |
Medium-term note (500 million Euros) |  | Euro Fixed |  | 1.54 | % | 2031 |  |  | 595 |  |  | 518 |
30-year bond ($555 million) |  | USD Fixed |  | 5.73 | % | 2037 |  |  | 550 |  |  | 743 |
Floating rate note ($96 million) |  | USD Floating |  | 1.29 | % | 2041 |  |  | 95 |  |  | 96 |
Medium-term note ($325 million) |  | USD Fixed |  | 4.05 | % | 2044 |  |  | 313 |  |  | 313 |
Floating rate note ($55 million) |  | USD Floating |  | 1.21 | % | 2044 |  |  | 54 |  |  | 54 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.13 | % | 2046 |  |  | 473 |  |  | 473 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.68 | % | 2047 |  |  | 491 |  |  | — |
Other borrowings |  | Various |  | 1.26 | % | 2018-2040 |  |  | 73 |  |  | 74 |
Total long-term debt |  |  |  |  |  |  |  | $ | 13,198 |  | $ | 11,478 |
Less: current portion of long-term debt |  |  |  |  |  |  |  |  | 1,102 |  |  | 800 |
Long-term debt (excluding current portion) |  |  |  |  |  |  |  | $ | 12,096 |  | $ | 10,678 |
Schedule of Post-Swap Borrowing (Long-Term Debt, Including Current Portion) | Post-Swap Borrowing (Long-Term Debt, Including Current Portion)
|  | 2017 |  | 2016 |
|  | Carrying |  | Effective |  | Carrying |  | Effective |
(Millions) |  | Value |  | Interest Rate |  | Value |  | Interest Rate |
Fixed-rate debt |  | $ | 9,681 |  | 2.45 | % | $ | 8,372 |  | 2.42 | %
Floating-rate debt |  |  | 3,517 |  | 0.76 | % |  | 3,106 |  | 0.48 | %
Total long-term debt, including current portion |  | $ | 13,198 |  |  |  | $ | 11,478 |  |  |
Schedule of Short-Term Borrowings and Current Portion of Long-Term Debt | Short-Term Borrowings and Current Portion of Long-Term Debt
|  | Effective |  | Carrying Value |
(Millions) |  | Interest Rate |  | 2017 |  | 2016 |
Current portion of long-term debt |  | 0.67 | % | $ | 1,102 |  | $ | 800 |
U.S. dollar commercial paper |  | 1.50 | % |  | 745 |  |  | — |
Other borrowings |  | 5.35 | % |  | 6 |  |  | 172 |
Total short-term borrowings and current portion of long-term debt |  |  |  | $ | 1,853 |  | $ | 972 |
Schedule of Maturities of Long-Term Debt | Future Maturities of Long-term Debt Maturities of long-term debt in the table below are net of the unaccreted debt issue costs such that total maturities equal the carrying value of long-term debt as of December 31, 2017. The maturities of long-term debt for the periods subsequent to December 31, 2017 are as follows (in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | After |  |  |  |
2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2022 |  | Total |
$ | 1,102 |  | $ | 692 |  | $ | 1,368 |  | $ | 1,333 |  | $ | 1,191 |  | $ | 7,512 |  | $ | 13,198 |

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