| Borrowings and Lines of Credit [Text Block] |
Borrowings and Lines of Credit | | | | | | | | | (Dollars in millions) | September 30, 2016 | | December 31, 2015 | Commercial paper | $ | 780 |
| | $ | 727 |
| Other borrowings | 91 |
| | 199 |
| Total short-term borrowings | $ | 871 |
| | $ | 926 |
|
At September 30, 2016, we had revolving credit agreements with various banks permitting aggregate borrowings of up to $4.35 billion, pursuant to a $2.20 billion revolving credit agreement and a $2.15 billion multicurrency revolving credit agreement, both of which expire in August 2021. As of September 30, 2016, there were no borrowings under these revolving credit agreements. The undrawn portions of these revolving credit agreements are also available to serve as backup facilities for the issuance of commercial paper. As of September 30, 2016, our maximum commercial paper borrowing limit was $4.35 billion. We use our commercial paper borrowings for general corporate purposes, including the funding of potential acquisitions, debt refinancing, and repurchases of our common stock. The need for commercial paper borrowings arises when the use of domestic cash for acquisitions, dividends, and share repurchases exceeds the sum of domestic cash generation and foreign cash repatriated to the U.S. On February 22, 2016, we issued €950 million aggregate principal amount of 1.125% notes due 2021, €500 million aggregate principal amount of 1.875% notes due 2026 and €750 million aggregate principal amount of floating rate notes due 2018. The net proceeds from these debt issuances were used for general corporate purposes. Long-term debt consisted of the following: | | | | | | | | | (Dollars in millions) | September 30, 2016 | | December 31, 2015 | 5.375% notes due 2017 1 | $ | 1,000 |
| | $ | 1,000 |
| 1.800% notes due 2017 1 | 1,500 |
| | 1,500 |
| Floating rate notes due 2018 (€750 million principal value) 2 | 841 |
| | — |
| 1.778% junior subordinated notes due 2018 | 1,100 |
| | 1,100 |
| 6.800% notes due 2018 | 99 |
| | 99 |
| 6.125% notes due 2019 1 | 1,250 |
| | 1,250 |
| 8.875% notes due 2019 | 271 |
| | 271 |
| 4.500% notes due 2020 1 | 1,250 |
| | 1,250 |
| 4.875% notes due 2020 | 171 |
| | 171 |
| 1.125% notes due 2021 (€950 million principal value) 3 | 1,066 |
| | — |
| 8.750% notes due 2021 | 250 |
| | 250 |
| 3.100% notes due 2022 1 | 2,300 |
| | 2,300 |
| 1.250% notes due 2023 (€750 million principal value) 3 | 841 |
| | 817 |
| 1.875% notes due 2026 (€500 million principal value) 3 | 561 |
| | — |
| 7.100% notes due 2027 | 141 |
| | 141 |
| 6.700% notes due 2028 | 400 |
| | 400 |
| 7.500% notes due 2029 1 | 550 |
| | 550 |
| 5.400% notes due 2035 1 | 600 |
| | 600 |
| 6.050% notes due 2036 1 | 600 |
| | 600 |
| 6.800% notes due 2036 | 134 |
| | 134 |
| 7.000% notes due 2038 | 159 |
| | 159 |
| 6.125% notes due 2038 1 | 1,000 |
| | 1,000 |
| 5.700% notes due 2040 1 | 1,000 |
| | 1,000 |
| 4.500% notes due 2042 1 | 3,500 |
| | 3,500 |
| 4.150% notes due 2045 4 | 850 |
| | 850 |
| Project financing obligations | 135 |
| | 191 |
| Other (including capitalized leases) | 192 |
| | 306 |
| Total principal long-term debt | 21,761 |
| | 19,439 |
| Other (fair market value adjustments and discounts) | 33 |
| | 60 |
| Total long-term debt | 21,794 |
| | 19,499 |
| Less: current portion | 1,604 |
| | 179 |
| Long-term debt, net of current portion | $ | 20,190 |
| | $ | 19,320 |
|
| | 1 | We may redeem the above notes, in whole or in part, at our option at any time at a redemption price in U.S. Dollars equal to the greater of 100% of the principal amount of the notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed, discounted to the redemption date on a semiannual basis at the adjusted treasury rate plus 10-50 basis points. The redemption price will also include interest accrued to the date of redemption on the principal balance of the notes being redeemed. |
| | 2 | These notes bear interest at the three-month EURIBOR rate plus 0.800%, established quarterly. The interest rate in effect at September 30, 2016 was 0.501%. The notes may be redeemed at our option in whole, but not in part, at any time in the event of certain developments affecting U.S. taxation. |
| | 3 | We may redeem these notes, in whole or in part, at our option at any time. If redeemed earlier than three months prior to the stated maturity date, the redemption price in Euro shall equal the greater of 100% of the principal amount of the notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed, discounted to the redemption date on an annual basis at a rate based upon a comparable German federal government bond whose maturity is closest to the maturity of the notes plus 15-30 basis points. In addition, the notes may be redeemed at our option in whole, but not in part, at any time in the event of certain developments affecting U.S. taxation. |
| | 4 | We may redeem these notes, in whole or in part, at our option at any time. If redeemed prior to November 16, 2044, the redemption price in U.S. Dollars shall equal the greater of 100% of the principal amount of the notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed, discounted to the redemption date on a semiannual basis at the adjusted treasury rate plus 25 basis points. |
On April 29, 2016, we renewed our universal shelf registration statement filed with the Securities and Exchange Commission (SEC) for an indeterminate amount of equity and debt securities for future issuance, subject to our internal limitations on the amount of equity and debt to be issued under this shelf registration statement. |