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Debt (Details) |  |  |  | 6 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Jun. 27, 2017 USD ($) | Jun. 21, 2017 USD ($) | May 29, 2015 USD ($) | Jun. 30, 2017 USD ($) | Jun. 30, 2016 USD ($) | Dec. 31, 2016 USD ($) | Mar. 28, 2013 USD ($)
Debt |  |  |  |  |  |  |
Proceeds from issuance of debt |  | $ 599,000,000 |  |  |  |  |
Retirement of notes |  |  |  | $ 535,000,000 | $ 1,300,000,000 |  |
Estimate of Fair Value Measurement |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Estimated market value of long-term and short-term debt |  |  |  | 3,400,000,000 |  | $ 3,300,000,000 |
Carrying Value Reported Value Measurement |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Aggregate carrying value of long-term and short-term debt |  |  |  | 3,100,000,000 |  | $ 3,000,000,000 |
Credit Agreement dated March 28, 2013 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Borrowing capacity, maximum |  |  |  |  |  |  | $ 1,250,000,000
Credit agreement dated May 29, 2015 and August 28, 2015, as amended |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Borrowing capacity, maximum |  |  | $ 750,000,000 |  |  |  |
Increase in maximum borrowing capacity |  |  | $ 375,000,000 |  |  |  |
Maximum net leverage ratio |  |  | 4 |  |  |  |
Minimum interest coverage ratio |  |  | 2.5 |  |  |  |
Borrowings outstanding |  |  |  | 0 |  |  |
Credit agreement dated May 29, 2015 and August 28, 2015, as amended | Federal funds effective rate |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Interest rate, basis spread (as a percent) |  |  | 0.50% |  |  |  |
Credit agreement dated May 29, 2015 and August 28, 2015, as amended | Libor rate |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Interest rate, basis spread (as a percent) |  |  | 1.00% |  |  |  |
Credit agreement dated May 29, 2015 and August 28, 2015, as amended | Revolver |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Borrowing capacity, maximum |  |  |  | 500,000,000 |  |  |
Credit agreement dated May 29, 2015 and August 28, 2015, as amended | Swingline loans |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Borrowing capacity, maximum |  |  |  | 75,000,000 |  |  |
Credit agreement dated May 29, 2015 and August 28, 2015, as amended | Letters of credit |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Borrowing capacity, maximum |  |  |  | 100,000,000 |  |  |
Outstanding and unused Letters of Credit |  |  |  | 0 |  |  |
3.5% Notes and Debentures due 2027 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Debt issued |  | $ 300,000,000 |  |  |  |  |
Stated interest rate |  | 3.50% |  |  |  |  |
4.5% Notes and Debentures due 2047 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Debt issued |  | $ 300,000,000 |  |  |  |  |
Stated interest rate |  | 4.50% |  |  |  |  |
7.125% Notes and Debentures due 2020 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Stated interest rate | 7.125% |  |  |  |  |  |
Retirement of notes | $ 299,000,000 |  |  |  |  |  |
5.95% Notes and Debentures due 2022 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Stated interest rate | 5.95% |  |  |  |  |  |
Retirement of notes | $ 74,000,000 |  |  |  |  |  |
7.75% Notes And Debentures due 2029 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Stated interest rate | 7.75% |  |  |  |  |  |
Retirement of notes | $ 62,000,000 |  |  |  |  |  |
6.5% Notes and Debentures due 2032 |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Stated interest rate | 6.50% |  |  |  |  |  |
Retirement of notes | $ 100,000,000 |  |  |  |  |  |
7.125%, 5.95%, 7.75% and 6.5% Notes and Debentures |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |
Loss on extinguishment of debt, recorded as interest expense |  |  |  | $ 107,000,000 |  |  |

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: 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(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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