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Short-Term Borrowings, Long-Term Debt and Available Credit Facilities | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | SHORT-TERM BORROWINGS, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES The following tables summarize the company's short-term borrowings and capital lease obligations and long-term debt:
Short-term borrowings and capital lease obligations | Successor | Predecessor
(In millions) | December 31, 2017 | December 31, 2016
Commercial paper | $ | 1,436 |  | $ | 386 |
Other loans - various currencies | 28 |  | 39 |
Long-term debt payable within one year | 1,315 |  | 4 |
Total short-term borrowings and capital lease obligations | $ | 2,779 |  | $ | 429 |
The estimated fair value of the company's short-term borrowings, including interest rate financial instruments, was determined using Level 2 inputs within the fair value hierarchy, as described in Note 1 and Note 19. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and capital lease obligations was $2,780 million and $430 million at December 31, 2017 and 2016, respectively. The weighted-average interest rate on short-term borrowings outstanding at December 31, 2017 and 2016 was 1.8 percent and 2.2 percent, respectively. The decrease in the interest rate for 2017 was primarily due to lower effective interest on long-term debt payable within one year.
Long Term Debt | Successor 1 | Predecessor
| December 31, 2017 | December 31, 2016
(In millions) | Amount | Weighted Average Rate | Amount
Promissory notes and debentures: |  |  |
Final maturity 2018 | $ | 1,280 |  | 1.59 | % | $ | 1,290 |
Final maturity 2019 | 521 |  | 2.23 | % | 500 |
Final maturity 2020 | 3,070 |  | 1.79 | % | 999 |
Final maturity 2021 | 1,580 |  | 2.07 | % | 1,498 |
Final maturity 2023 and thereafter | 3,492 |  | 3.32 | % | 3,188 |
Other facilities: |  |  |
Term loan due 2019 | 1,500 |  | 2.35 | % | 500 |
Other loans | 18 |  | 4.32 | % | 22 |
Foreign currency loans, various rates and maturities | 30 |  | 2.85 | % | 29 |
Medium-term notes, varying maturities through 2043 | 110 |  | 1.22 | % | 111 |
Capital lease obligations | 5 |  |  | 9 |
Less: Unamortized debt discount and issuance costs | — |  |  | 35 |
Less: Long-term debt due within one year | 1,315 |  |  | 4 |
Total | $ | 10,291 |  |  | $ | 8,107 |
1. | The Successor period includes the reflection of debt at fair value at the date of the Merger. See Note 3 for additional information regarding the Merger.
Principal payments of long-term debt for the next five years are as follows:
Maturities of Long-Term Debt For Next Five Years 1 |
(In millions) |
2018 | $ | 1,286 |
2019 | $ | 2,005 |
2020 | $ | 3,005 |
2021 | $ | 1,505 |
2022 | $ | 2 |
1. | Excludes unamortized debt step-up premium.
The estimated fair value of the company's long-term borrowings, was determined using Level 2 inputs within the fair value hierarchy, as described in Note 1 and Note 19. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's long-term borrowings, not including long-term debt due within one year, was $10,250 million and $8,460 million at December 31, 2017 and 2016, respectively. Available Committed Credit Facilities The following table summarizes the company's credit facilities:
Committed and Available Credit Facilities at December 31, 2017 (Successor) |  |
(In millions) | Effective Date | Committed Credit | Credit Available | Maturity Date | Interest
Revolving Credit Facility | March 2016 | $ | 3,000 |  | $ | 2,950 |  | May 2019 | Floating Rate
Term Loan Facility | March 2016 | 4,500 |  | 3,000 |  | March 2019 | Floating Rate
Total Committed and Available Credit Facilities |  | $ | 7,500 |  | $ | 5,950 |  |  |
Debt Offering In May 2017, the company completed an underwritten public offering of $1,250 million of the company's 2.20 percent Notes due 2020 and $750 million of the company's Floating Rate Notes due 2020 (the "May 2017 Debt Offering"). The proceeds of this offering were used to make a discretionary pension contribution to the company's principal U.S. pension plan. See Note 16 for further discussion regarding this contribution. Term Loan Facility In March 2016, the company entered into a credit agreement that provides for a three-year, senior unsecured term loan facility in the aggregate principal amount of $4,500 million (the "Term Loan Facility") under which DuPont may make up to seven term loan borrowings and amounts repaid or prepaid are not available for subsequent borrowings. The facility was amended in 2017 to extend the date on which the commitment to lend terminates to July 27, 2018. The proceeds from the borrowings under the Term Loan Facility will be used for the company's general corporate purposes including debt repayment, working capital and funding a portion of DowDuPont's costs and expenses. The Term Loan Facility matures in March 2019 at which time all outstanding borrowings, including accrued but unpaid interest, become immediately due and payable. As of December 31, 2017, the company had made three term loan borrowings in an aggregate principal amount of $1,500 million and had unused commitments of $3,000 million under the Term Loan Facility. Uncommitted Credit Facilities and Outstanding Letters of Credit Unused bank credit lines on uncommitted credit facilities were approximately $731 million at December 31, 2017. These lines are available to support short-term liquidity needs and general corporate purposes including letters of credit. Outstanding letters of credit were $177 million at December 31, 2017. These letters of credit support commitments made in the ordinary course of business.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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