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BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Long-term Borrowings
 
March 31,
 
December 31,
(Dollars in millions)
2016
 
2015
Borrowings consisted of:
 
 
 
2.4% notes due June 2017
$
998

 
$
998

6.30% notes due November 2018
165

 
166

5.5% notes due November 2019
249

 
249

2.7% notes due January 2020
795

 
794

4.5% notes due January 2021
249

 
249

3.6% notes due August 2022
894

 
896

7 1/4% debentures due January 2024
244

 
244

7 5/8% debentures due June 2024
54

 
54

3.8% notes due March 2025
791

 
791

7.60% debentures due February 2027
222

 
222

4.8% notes due September 2042
492

 
492

4.65% notes due October 2044
869

 
869

Credit facilities and commercial paper borrowings
1,052

 
980

Capital leases
4

 
4

Total borrowings
7,078

 
7,008

Borrowings due within one year
513

 
431

Long-term borrowings
$
6,565

 
$
6,577
Fair Value of Borrowings


 
 
 
Fair Value Measurements at March 31, 2016
(Dollars in millions)
 
Recorded Amount
March 31, 2016
 
Total Fair Value
 
 Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Long-term borrowings
 
$
6,565

 
$
6,854

 
$
6,311

 
$
543

 
$
—

 
 
 
 
 
Fair Value Measurements at December 31, 2015
(Dollars in millions)
 
Recorded Amount
December 31, 2015
 
Total Fair Value
 
 Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
Long-term borrowings
 
$
6,577

 
$
6,647

 
$
6,094

 
$
553

 
$
—