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DEBT | 3 Months Ended
--- | ---
Mar. 31, 2016
Debt Instruments [Abstract] |
DEBT | DEBT Long-Term Debt Long-term debt at March 31, 2016 and December 31, 2015 consisted of the following:
| March 31, 2016 |  | December 31, 2015
Secured Receivables Credit Facility (1.20% at March 31, 2016) | $ | 410 |  |  | $ | — |
3.20% Senior Notes due April 2016 | 150 |  |  | 150 |
2.70% Senior Notes due April 2019 | 300 |  |  | 300 |
4.75% Senior Notes due January 2020 | 526 |  |  | 522 |
2.50% Senior Notes due March 2020 | 299 |  |  | 299 |
4.70% Senior Notes due April 2021 | 566 |  |  | 554 |
4.25% Senior Notes due April 2024 | 324 |  |  | 313 |
3.50% Senior Notes due March 2025 | 609 |  |  | 601 |
6.95% Senior Notes due July 2037 | 174 |  |  | 247 |
5.75% Senior Notes due January 2040 | 244 |  |  | 368 |
4.70% Senior Notes due March 2045 | 300 |  |  | 300 |
Other | 19 |  |  | 22 |
Debt issuance costs | (23 | ) |  | (25 | )
Total long-term debt | 3,898 |  |  | 3,651 |
Less: Current portion of long-term debt | 158 |  |  | 159 |
Total long-term debt, net of current portion | $ | 3,740 |  |  | $ | 3,492 |
Retirement of Debt In March 2016, the Company completed a cash tender offer to purchase up to $200 million aggregate principal amount of its 6.95% Senior Notes due July 2037 ("Senior Notes due 2037") and 5.75% Senior Notes due January 2040 ("Senior Notes due 2040"). The Company purchased $73 million of its Senior Notes due 2037 and $127 million of its Senior Notes due 2040. In March 2015, the Company completed a cash tender offer to purchase up to $250 million aggregate principal amount of its Senior Notes due 2037 and Senior Notes due 2040. The Company purchased $176 million of its Senior Notes due 2037 and $74 million of its Senior Notes due 2040. In connection with the March 2016 and 2015 cash tender offers, the Company recorded losses on retirement of debt, principally comprised of premiums paid, of $48 million and $79 million in other expense, net for the three months ended March 31, 2016 and 2015, respectively. Maturities of Long-Term Debt As of March 31, 2016, long-term debt matures as follows:
Year Ending December 31, |
Remainder of 2016 | $ | 156 |
2017 | 416 |
2018 | 4 |
2019 | 302 |
2020 | 801 |
2021 | 550 |
Thereafter | 1,625 |
Total maturities of long-term debt | 3,854 |
Unamortized discount | (12 | )
Debt issuance costs | (23 | )
Fair value basis adjustments attributable to hedged debt | 79 |
Total long-term debt | 3,898 |
Less: Current portion of long-term debt | 158 |
Total long-term debt, net of current portion | $ | 3,740 |
For further discussion regarding the Company's debt, see Note 13 to the consolidated financial statements in the Company's 2015 Annual Report on Form 10-K.

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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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