Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of Outstanding Debt

	2015						2014
	Principal			Carrying			Principal			Carrying
	outstanding			amount			outstanding			amount
Short-term debt	$	54		$	54		$	75		$	75
Long-term debt
Senior secured borrowings:
Revolving credit facilities	$	—		$	—		$	—		$	—
Term loan facilities
U.S. dollar at LIBOR plus 1.75% due 2018	831			821			800			787
Euro at EURIBOR plus 1.75% due 20181	723			714			847			834
Farm credit facility at LIBOR plus 2.00% due 2019	355			350			358			351
Senior notes and debentures:
U.S. dollar at 6.25% due 2021	700			694			700			693
€650 at 4.0% due 2022	706			697			786			775
U. S. dollar at 4.50% due 2023	1,000			989			1,000			988
€600 at 3.375% due 2025	652			642			—			—
U.S. dollar at 7.375% due 2026	350			346			350			346
U.S. dollar at 7.50% due 2096	45			45			64			64
Other indebtedness in various currencies
Fixed rate with rates in 2015 from 1.0% to 8.5% due through 2036	146			146			211			211
Variable rate with average rates in 2015 from 3.4% to 5.1% due through 2021	20			20			70			70
Total long-term debt	5,528			5,464			5,186			5,119
Less: current maturities	(211		)	(209		)	(177		)	(175		)
Total long-term debt, less current maturities	$	5,317		$	5,255		$	5,009		$	4,944

(1) €665 and €700 at December 31, 2015 and 2014, respectively.

Schedule of Weighted Average Interest Rates

The weighted average interest rates were as follows:

	2015		2014		2013
Short-term debt	3.0	%	2.7	%	1.9	%
Revolving credit facilities	4.4	%	4.4	%	3.6	%