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Debt (Tables) | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Schedule of Debt | Short-term and Long-term Debt by Issuance
| As of December 31,
| 2017 | 2016
Revolving Credit Facilities | $ | — |  | $ | — |
Senior Notes and Debentures |  |  |  |
5.375% Notes, due 2017 | — |  | 416 |
6.3% Notes, due 2018 | 320 |  | 320 |
6.0% Notes, due 2019 | 413 |  | 413 |
5.5% Notes, due 2020 | 500 |  | 500 |
5.125% Notes, due 2022 | 800 |  | 800 |
5.95% Notes, due 2036 | 300 |  | 300 |
6.625% Notes, due 2040 | 295 |  | 295 |
6.1% Notes, due 2041 | 409 |  | 409 |
6.625% Notes, due 2042 | 178 |  | 178 |
4.3% Notes, due 2043 | 300 |  | 300 |
Junior Subordinated Debentures |  |  |  |
7.875% Notes, due 2042 | 600 |  | 600 |
3 month Libor + 2.125% Notes, due 2067 [1] | 500 |  | — |
8.125% Notes, due 2068 | 500 |  | 500 |
Total Notes and Debentures | 5,115 |  | 5,031 |
Unamortized discount and debt issuance cost [2] | (117 | ) | (122 | )
Total Debt | 4,998 |  | 4,909 |
Less: Current maturities | 320 |  | 416 |
Long-Term Debt | $ | 4,678 |  | $ | 4,493 |
[1] | In April 2017, the Company entered into an interest rate swap agreement expiring February 15, 2027 to effectively convert the variable interest payments for this debenture into fixed interest payments of approximately 4.39%.
[2] | The amount primarily consists of $79 and $83 as of December 31, 2017 and 2016, respectively, on the 6.1% Notes, due 2041.
Schedule of Subordinated Borrowing | Junior Subordinated Debentures by Issuance
Issue | 7.875% Debentures | 8.125% Debentures [3] | 3 Month Libor + 2.125%
Face Value | $ | 600 |  | $ | 500 |  | $ | 500 |
Interest Rate [1] | 7.875 | % | [2] | 8.125 | % | [4] | N/A | [5]
Call Date | April 15, 2022 |  | June 15, 2018 |  | February 15, 2017 | [6] |
Interest Rate Subsequent to Call Date [2] | 3 Month Libor + 5.596% |  | 3 Month Libor + 4.6025% |  | 3 Month Libor + 2.125% | [7]
Final Maturity | April 15, 2042 |  | June 15, 2068 |  | February 12, 2067 |
[1] | Interest rate in effect until call date.
[2] | Payable quarterly in arrears.
[3] | The 8.125% debentures have a scheduled maturity date of June 15, 2038.
[4] | Payable semi-annually in arrears.
[5] | Debentures were issued on call date.
[6] | Reflects original call date: Replacement Capital Covenant associated with the debenture prohibits the Company from redeeming all or any portion of the notes on or prior to February 15, 2022.
[7] | In April, 2017 the company entered into an interest rate swap agreement expiring February 15, 2027 to effectively convert the interest payments for the 3 month Libor + 2.125% debenture into fixed interest payments of approximately 4.39%.
Long-Term Debt Maturities | Long-term Debt Maturities (at par value) as of December 31, 2017
2018 - Current maturities | $ | 320 |
2019 | $ | 413 |
2020 | $ | 500 |
2021 | $ | — |
2022 | $ | 800 |
Thereafter | $ | 3,082 |

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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