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Credit Facilities and Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Schedule of Credit Facilities and Long-Term Debt
(in millions)
September 30,
2015
 
December 31,
2014
3.550% Senior Notes due 2016 (a)
$
600

 
$
600

4.875% Senior Notes due 2021 (a)
600

 
600

Research and development facility agreement

77

 
84

Other
2

 
5

Debt issuance costs
(4
)
 
(4
)
Unamortized discount (b)
—

 
(1
)
Total debt
1,275

 
1,284

Less: short-term borrowings and current maturities of long-term debt
79

 
89

Total long-term debt
$
1,196

 
$
1,195


(a)
The fair value of our Senior Notes (as defined below) was determined using quoted prices in active markets for identical securities, which are considered Level 1 inputs. The fair value of our Senior Notes due 2016 was $613 million and $621 million as of September 30, 2015 and December 31, 2014, respectively. The fair value of our Senior Notes due 2021 was $655 million and $653 million as of September 30, 2015 and December 31, 2014, respectively.

(b)
The unamortized discount is recognized as a reduction in the carrying value of the Senior Notes in the Condensed Consolidated Balance Sheets and is being amortized to interest expense in our Condensed Consolidated Income Statements over the expected remaining terms of the Senior Notes.