Debt Obligations

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt Obligations

Debt outstanding at March 31, 2016 and December 31, 2015 is as follows:

	March 31, 2016					December 31, 2015
	Long-Term			Due Within One Year		Long-Term			Due Within One Year
ABL Facility	$	80		$	—	$	—		$	—
Senior Secured Notes:
6.625% First-Priority Senior Secured Notes due 2020 (includes $4 of unamortized debt premium at both March 31, 2016 and December 31, 2015)	1,554			—		1,554			—
10.00% First-Priority Senior Secured Notes due 2020	315			—		315			—
8.875% Senior Secured Notes due 2018 (includes $1 and $2 of unamortized debt discount at March 31, 2016 and December 31, 2015, respectively)	917			—		995			—
9.00% Second-Priority Senior Secured Notes due 2020	574			—		574			—
Debentures:
9.2% debentures due 2021	74			—		74			—
7.875% debentures due 2023	189			—		189			—
Other Borrowings:
Australia Facility due 2017	29			4		29			3
Brazilian bank loans	5			37		5			42
Capital leases	9			1		9			1
Other	4			26		5			34
Unamortized debt issuance costs	(47		)	—		(51		)	—
Total	$	3,703		$	68	$	3,698		$	80

2016 Debt Transactions

During the first quarter of 2016, the Company repurchased $78 of its 8.875% Senior Secured Notes due 2018 on the open market for cash of $54. This transaction resulted in a gain of $23, which represents the difference between the carrying value of the repurchased debt and the cash paid for the repurchases, less the proportionate amount of unamortized deferred financing fees and debt discounts that were written off in conjunction with the repurchases. This amount is recorded in “Gain on debt extinguishment” in the unaudited Condensed Consolidated Statements of Operations.