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Debt and Credit Facilities | 12 Months Ended
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Dec. 31, 2016
Long-term Debt, Unclassified [Abstract] |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES In January 2017 we sold $500 of senior unsecured notes with an interest rate of 1.800% due on January 15, 2019. In September 2016 we repaid all $750 of our senior unsecured notes that were due on September 30, 2016. In March 2016 we sold $3,500 of senior unsecured notes. In September 2016 we increased the amount of commercial paper issuable under our commercial paper program by $250 to a maximum of $1,500 outstanding with maturities up to 397 days from the date of issuance. On December 31, 2016 outstanding commercial paper totaled $200, the weighted-average original maturity of the commercial paper outstanding was approximately 60 days and the weighted average annualized interest rate of short-term debt was approximately 0.9%. We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. In August 2016 we entered into a new senior unsecured revolving credit facility that replaced our previous agreement dated August 29, 2014. The primary changes were to increase the aggregate principal amount of the commitments by $250 to $1,500 and extend the maturity date to August 19, 2021. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on December 31, 2016.
Summary of Total Debt
Senior unsecured notes: | 2016 |  | 2015
| Rate |  | Due |  |  |  |
| 2.000% |  | 09/30/2016 |  | $ | — |  |  | $ | 749 |
| 1.300% |  | 04/01/2018 |  | 598 |  |  | 597 |
| 2.000% |  | 03/08/2019 |  | 746 |  |  | — |
| 4.375% |  | 01/15/2020 |  | 497 |  |  | 496 |
| 2.625% |  | 03/15/2021 |  | 745 |  |  | — |
| 3.375% |  | 05/15/2024 |  | 602 |  |  | 606 |
| 3.375% |  | 11/01/2025 |  | 744 |  |  | 744 |
| 3.500% |  | 03/15/2026 |  | 987 |  |  | — |
| 4.100% |  | 04/01/2043 |  | 391 |  |  | 390 |
| 4.375% |  | 05/15/2044 |  | 395 |  |  | 394 |
| 4.625% |  | 03/15/2046 |  | 979 |  |  | — |
Commercial paper |  | 200 |  |  | — |
Other |  | 30 |  |  | 22 |
Total debt |  | $ | 6,914 |  |  | $ | 3,998 |
Less current maturities |  | 228 |  |  | 768 |
Total long-term debt |  | $ | 6,686 |  |  | $ | 3,230 |
Unamortized debt issuance costs | $ | 45 |  |  | $ | 24 |
Available borrowing capacity under all existing facilities | $ | 1,551 |  |  | $ | 1,236 |
Fair value of debt |  | $ | 6,762 |  |  | $ | 4,009 |
The fair value of debt (excluding the interest rate hedge) was based on the quoted interest rates for similar types and amounts of borrowings. Substantially all of our debt was classified within Level 1 of the fair value hierarchy. The fair value of the debt was estimated using rates with identical terms and maturities based on quoted active market prices and yields that took into account the underlying terms of the debt instruments. On January 1, 2016 we retrospectively adopted ASU 2015-03, Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs. The adoption of this update resulted in the reclassification of $24 of unamortized debt issuance costs, principally from other noncurrent assets to a reduction of long-term debt on the Consolidated Balance Sheet on December 31, 2015. Interest expense, including required fees incurred on outstanding debt and credit facilities that were included in other expense, totaled $228, $108, and $113 in 2016, 2015 and 2014.

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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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