Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of debt instrument

Debt consists of the following:

	December 31,
	2015			2014
URNA and subsidiaries debt:
Accounts Receivable Securitization Facility (1)	$	571		$	548
$2.5 billion ABL Facility (1)	1,579			1,293
5 3/4 percent Senior Secured Notes (2)	—			741
8 3/8 percent Senior Subordinated Notes (2)	—			740
7 3/8 percent Senior Notes	740			738
8 1/4 percent Senior Notes (2)	315			687
7 5/8 percent Senior Notes	1,306			1,303
6 1/8 percent Senior Notes	937			938
4 5/8 percent Senior Secured Notes (3)	989			—
5 3/4 percent Senior Notes	838			837
5 1/2 percent Senior Notes (3)	791			—
Capital leases	96			105
Total URNA and subsidiaries debt	8,162			7,930
Holdings:
4 percent Convertible Senior Notes (4)	—			32
Total debt (5)	8,162			7,962
Less short-term portion	(607		)	(618		)
Total long-term debt	$	7,555		$	7,344

(1) $873 and $48 were available under our ABL facility and accounts receivable securitization facility, respectively, at December 31, 2015. The ABL facility availability is reflected net of $37 of letters of credit. At December 31, 2015, the interest rates applicable to our ABL facility and accounts receivable securitization facility were 2.3 percent and 1.1 percent, respectively.

(2) In 2015, we redeemed all of our 5 ³/₄ percent Senior Secured Notes and 8 ³/₈ percent Senior Subordinated Notes, and $350 principal amount of our 8 ¹/₄ percent Senior Notes. Upon redemption, we recognized an aggregate loss of $121 in interest expense, net. The loss represented the difference between the net carrying amount and the total purchase price of the redeemed notes.

(3) In 2015, URNA issued $1.0 billion principal amount of 4 ⁵/₈ percent Senior Secured Notes and $800 principal amount of 5 ¹/₂ percent Senior Notes. See below for additional detail.

(4) The 4 percent Convertible Senior Notes matured in 2015. During the year ended December 31, 2015, $34 principal amount of the 4 percent Convertible Senior Notes was redeemed. We recognized a loss of approximately $1 in interest expense, net upon redemption. The loss represented the difference between the net carrying amount and the fair value of the debt component of the notes.

(5) In 2015, we adopted accounting guidance on the presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. Total debt as of December 31, 2015 and 2014 is presented above in accordance with this new guidance. Under the new presentation, total debt as of December 31, 2014 as presented above decreased by $90 from the previously reported total debt.

Schedule of the maturities of debt

Maturities of the Company’s debt (exclusive of any unamortized original issue discounts or premiums, and unamortized debt issuance costs) for each of the next five years and thereafter at December 31, 2015 are as follows:

2016	$	607
2017	24
2018	17
2019	9
2020	2,343
Thereafter	5,206
Total	$	8,206