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Debt
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Debt Debt
    The Company's outstanding debt was as follows:
September 30, 2020December 31, 2019
PrincipalCarryingPrincipalCarrying
outstandingamountoutstandingamount
Short-term debt$132 $132 $75 $75 
Long-term debt
Senior secured borrowings:
Revolving credit facilities— — — — 
Term loan facilities
U.S. dollar at LIBOR + 1.5% due 20241,079 1,073 1,100 1,094 
Euro at EURIBOR + 1.5% due 20241
517 517 505 504 
Senior notes and debentures:
€650 at 4.0% due 2022762 759 729 725 
U. S. dollar at 4.50% due 20231,000 996 1,000 995 
€335 at 2.25% due 2023393 390 376 372 
€500 at 0.75% due 2023645 640 617 610 
€600 at 2.625% due 2024703 699 673 668 
€600 at 3.375% due 2025703 698 673 667 
U.S. dollar at 4.25% due 2026400 396 400 395 
U.S. dollar at 4.75% due 2026875 864 875 863 
U.S. dollar at 7.375% due 2026350 348 350 348 
€500 at 2.875% due 2026586 579 561 554 
U.S. dollar at 7.50% due 209640 40 40 40 
Other indebtedness in various currencies112 112 45 45 
Total long-term debt8,165 8,111 7,944 7,880 
Less current maturities(72)(72)(62)(62)
Total long-term debt, less current maturities$8,093 $8,039 $7,882 $7,818 
(1) €442 and €450 at September 30, 2020 and December 31, 2019
The estimated fair value of the Company’s long-term borrowings, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $8,548 at September 30, 2020 and $8,410 at December 31, 2019.