Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

	June 30, 2020				December 31, 2019
(In millions)	Principal Balance		Carrying Value		Principal Balance		Carrying Value
ABL facility	$	600	$	600	$	—	$	—
Term loan facility	2,003		1,971		2,003		1,969
6.50% Senior notes due 2022	1,200		1,194		1,200		1,192
6.125% Senior notes due 2023	535		531		535		530
6.75% Senior notes due 2024	1,000		988		1,000		987
6.25% Senior notes due 2025	1,150		1,137		—		—
6.70% Senior debentures due 2034	300		209		300		208
Borrowings related to securitization program	110		110		—		—
Finance leases, asset financing and other	397		397		380		380
Total debt	7,295		7,137		5,418		5,266
Short-term borrowings and current maturities of long-term debt	198		198		84		84
Long-term debt	$	7,097	$	6,939	$	5,334	$	5,182

Schedule of Fair Value of Debt

The fair value hierarchy of cash equivalents was as follows:

(In millions)	Carrying Value		Fair Value		Level 1		Level 2
June 30, 2020	$	1,900	$	1,900	$	1,900	$	—
December 31, 2019	144		144		127		17

The fair value of our debt and classification in the fair value hierarchy was as follows:

(In millions)	Fair Value		Level 1		Level 2
June 30, 2020	$	7,421	$	4,354	$	3,067
December 31, 2019	5,580		3,190		2,390