2.2.0.25falsefalse11001 - Disclosure - Debttruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
USD ($) / shares
USD ($)
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<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i><a name="tx125267_40"> </a>Note 10 – Debt </i></b></font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Our long-term debt is primarily in the form of publicly issued notes and debentures, as follows: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="75%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><i> (In millions)</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>Interest Rate</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>2010</i></b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>2009</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td height="8"> </td>
<td height="8" colspan="4"> </td>
<td height="8" colspan="4"> </td>
<td height="8" colspan="4"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 3/14/2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">4.12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>500</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 4/15/2013</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 5/1/2016</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>451</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">600</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 11/15/2019</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">4.25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>900</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">900</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 9/15/2023</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>200</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">200</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 6/15/2024</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">8.38</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>167</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">167</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 6/15/2025</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>150</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 5/1/2026</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>275</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">423</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 12/1/2029</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">8.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>206</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Debentures due 5/1/2036</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">7.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>97</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">300</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 9/1/2036</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">6.15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>1,079</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,079</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 11/15/2039</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">5.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>600</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">600</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Notes due 6/1/2040</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">5.72</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">% </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>728</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Unamortized discount</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">N/A</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>(505</b></font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(351</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Other</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">Various</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>21</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">17</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>5,019</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">5,052</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">In May 2010, we issued $<font class="_mt">728</font> million of new <font class="_mt">5.72</font>% Notes due <font class="_mt">2040</font> (the New Notes) in exchange for $<font class="_mt">611</font> million of our then outstanding debt securities listed in the table below (the Old Notes). We paid a premium of $<font class="_mt">158</font> million in the exchange, of which $<font class="_mt">117</font> million was in the form of New Notes. The remaining $<font class="_mt">41</font> million, along with $<font class="_mt">6</font> million in expenses associated with the transaction, was paid in cash. The premium was recorded as a discount and will be amortized as additional interest expense over the life of the New Notes, using the effective interest method. </fo
nt></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="84%"> </td>
<td valign="bottom" width="14%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="bottom"> <font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>Principal Amount<br />Exchanged</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>(In millions)</i></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Old Notes Exchanged</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="top">
<p style="margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">7.65% Debentures due 2016</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">149</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">7.75% Debentures due 2026</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">8.50% Debentures due 2029</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">111</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">7.20% Debentures due 2036</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">203</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">611</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr></table>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">In November 2009, we issued a total of $<font class="_mt">1.5</font> billion of long-term notes in a registered public offering, $<font class="_mt">900</font> million of which are due in <font class="_mt">2019</font> and have a fixed coupon interest rate of <font class="_mt">4.25</font>%. The remaining $<font class="_mt">600</font> million of long-term notes are due in <font class="_mt">2039</font> and have a fixed coupon interest rate of <font class="_mt">5.50</font>%. In March 2008, we issued $<font class="_mt">500</font> million of long-term notes in a registered public offering. These notes are due in <font class="_mt">2013</font> and have a fixed coupon interest rate of <font class="_mt">4.12</font>%. </font><
/p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">At December 31, 2010 and 2009, we had in place with a group of banks a $<font class="_mt">1.5</font> billion revolving credit facility which expires in June 2012. There were no borrowings outstanding under the facility during 2010 or 2009. Borrowings under the credit facility would be unsecured and bear interest at rates based, at our option, on the Eurodollar rate or a bank defined Base Rate. Each bank's obligation to make loans under the credit facility is subject to, among other things, our compliance with various representations, warranties and covenants, including covenants limiting our ability and certain of our subsidiaries to encumber assets and a covenant not to exceed a maximum leverage ratio. As of December 31, 2010, we were in compliance with all covenants contained in our credit facility agreement, as well as in our debt agre
ements. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We have agreements in place with banking institutions to provide for the issuance of commercial paper. There were no commercial paper borrowings outstanding during 2010 or 2009. If we were to issue commercial paper, the borrowings would be supported by the $<font class="_mt">1.5</font> billion revolving credit facility. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">During the five year period from 2011 through 2015, we have $<font class="_mt">650</font> million in scheduled long-term debt maturities, all of which are due in 2013. Interest payments were $<font class="_mt">337</font> million in 2010, $<font class="_mt">286</font> million in 2009, and $<font class="_mt">320</font> million in 2008. </font></p> </div>Note 10 – Debt
Our long-term debt is primarily in the form of publicly issued notes and debentures, as follows:
falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInformation 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, 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 financia
l statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 4
falsefalse12DebtUnKnownUnKnownUnKnownUnKnownfalsetrue
