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BORROWINGS (Tables)
 9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Long-term Borrowings
 
September 30,
 
December 31,
(Dollars in millions)
2016
 
2015
Borrowings consisted of:
 
 
 
2.4% notes due June 2017
$
499

 
$
998

6.30% notes due November 2018
166

 
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
890

 
896

1.50% notes due May 2023
607

 
—

7 1/4% debentures due January 2024
244

 
244

7 5/8% debentures due June 2024
54

 
54

3.8% notes due March 2025
792

 
791

7.60% debentures due February 2027
222

 
222

4.8% notes due September 2042
492

 
492

4.65% notes due October 2044
870

 
869

Credit facilities borrowings
300

 
550

Commercial paper borrowings
175

 
430

Capital leases
4

 
4

Total borrowings
6,608

 
7,008

Borrowings due within one year
675

 
431

Long-term borrowings
$
5,933

 
$
6,577
Fair Value of Borrowings


 
 
 
Fair Value Measurements at September 30, 2016
(Dollars in millions)
 
Recorded Amount
September 30, 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
 
$
5,933

 
$
6,410

 
$
6,107

 
$
303

 
$
—

 
 
 
 
 
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

 
$
—