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Debt and Lines of Credit | 12 Months Ended
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Dec. 31, 2016
Debt Disclosure [Abstract] |
Debt and lines of credit | 11. Debt and lines of credit Short-term borrowings We maintain a line of credit to support commercial paper borrowings, if any, and to provide additional liquidity through bank loans. As of December 31, 2016, we had a variable-rate revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $2 billion until March 2021. The interest rate on borrowings under this credit facility, if drawn, is indexed to the applicable London Interbank Offered Rate (LIBOR). As of December 31, 2016, our credit facility was undrawn and we had no commercial paper outstanding. Long-term debt In May 2016, we issued a principal amount of $500 million of fixed-rate, long-term debt due in 2022. We incurred $3 million of issuance and other related costs, which are amortized to Interest and debt expense over the term of the debt. The proceeds of the offering were $499 million, net of the original issuance discount, and were used toward the repayment of a portion of $1.0 billion of maturing debt retired in May 2016. In May 2015, we issued a principal amount of $500 million of fixed-rate, long-term debt due in 2020. We incurred $3 million of issuance and other related costs, which are amortized to Interest and debt expense over the term of the debt. The proceeds of the offering were $498 million, net of the original issuance discount, and were used toward the repayment of a portion of the debt that matured in August 2015. We retired $250 million of maturing debt in April 2015 and another $750 million in August 2015. In March 2014, we issued an aggregate principal amount of $500 million of fixed-rate, long-term debt, with $250 million due in 2017 and $250 million due in 2021. We incurred $3 million of issuance and other related costs, which are amortized to Interest and debt expense over the term of the debt. The proceeds of the offering were $498 million, net of the original issuance discount, and were used toward the repayment of the $1.0 billion of debt that matured in May 2014. Long-term debt outstanding is as follows:
| December 31, |
| 2016 |  |  | 2015 |
Notes due 2016 at 2.375% | $ |  | — |  |  | $ |  | 1,000 |
Notes due 2017 at 0.875% |  |  | 250 |  |  |  |  | 250 |
Notes due 2017 at 6.60% (assumed with National acquisition) |  |  | 375 |  |  |  |  | 375 |
Notes due 2018 at 1.00% |  |  | 500 |  |  |  |  | 500 |
Notes due 2019 at 1.65% |  |  | 750 |  |  |  |  | 750 |
Notes due 2020 at 1.75% |  |  | 500 |  |  |  |  | 500 |
Notes due 2021 at 2.75% |  |  | 250 |  |  |  |  | 250 |
Notes due 2022 at 1.85% |  |  | 500 |  |  |  |  | — |
Notes due 2023 at 2.25% |  |  | 500 |  |  |  |  | 500 |
Total debt |  |  | 3,625 |  |  |  |  | 4,125 |
Net unamortized discounts, premiums and debt issuance costs |  |  | (16 | ) |  |  |  | (5 | )
Total debt, including net unamortized discounts, premiums and debt issuance costs |  |  | 3,609 |  |  |  |  | 4,120 |
Current portion of long-term debt |  |  | (631 | ) |  |  |  | (1,000 | )
Long-term debt | $ |  | 2,978 |  |  | $ |  | 3,120 |
Interest and debt expense was $80 million in 2016, $90 million in 2015 and $94 million in 2014. This was net of the amortization of the debt discounts, premiums and debt issuance costs. Cash payments for interest on long-term debt were $88 million in 2016, $99 million in 2015 and $102 million in 2014. Capitalized interest was not material.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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