Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Summary of Long-term Debt

Long-term debt consisted of:

(in $ millions)	Interest rate		Maturity (1)	December 31, 2013		December 31, 2012
Secured debt
Senior Secured Credit Agreement
Revolver borrowings
Dollar denominated (2)		L+4 1/4%	June 2018		—		20
Term loans
Dollar denominated (2)		L+5%	June 2019		1,525		—
Dollar denominated (refinanced in June 2013)		L+4 3/4%			—		1,064
Euro denominated (refinanced in June 2013)		L+4 3/4%			—		284
“Tranche S” (refinanced in June 2013)		L+4 3/4%			—		137
2012 Secured Credit Agreement
Dollar denominated term loan (3)		L+9 1/2%			—		171
Second Lien Credit Agreement
Tranche 1 dollar denominated term loan (3)		L+8%	January 2016		644		—
Tranche 2 dollar denominated term loan (4)		8 3/8%	December 2016		234		—
Second Priority Secured Notes
Dollar denominated floating rate notes (refinanced in April 2013) (5)		L+6%			—		225
Unsecured debt
Senior Notes
Dollar denominated floating rate notes (refinanced in April 2013)		L+4 5/8%			—		122
Euro denominated floating rate notes (refinanced in April 2013)		L+4 5/8%			—		201
Dollar denominated notes (refinanced in April 2013)		9 7/8%			—		429
Dollar denominated notes (refinanced in April 2013)		9%			—		250
Dollar denominated notes (6)		13 7/8%	March 2016		411		—
Dollar denominated floating rate notes (7)		L+8 5/8%	March 2016		188		—
Senior Subordinated Notes
Dollar denominated notes		11 7/8%	September 2016		25		—
Dollar denominated notes		11 7/8%	September 2016		247		247
Euro denominated notes		10 7/8%	September 2016		192		184
Capital leases					107		96
Total debt					3,573		3,430
Less: current portion					45		38
Long-term debt					3,528		3,392

(1) The term loans maturing in June 2019 and the revolver availability through June 2018 are subject to a reduction in maturity to November 2015, December 2015, June 2016 or September 2016 if the Company is unable to repay or refinance its debt outstanding under the Second Lien Credit Agreement or its unsecured debt prior to their maturity dates.

(2) Minimum LIBOR floor of 1.25%

(3) Minimum LIBOR floor of 1.5%

(4) Cash interest of 4% and payment-in-kind interest of 4.375%

(5) Payable in cash or payment-in-kind

(6) Cash interest of 11.375% and payment-in-kind interest of 2.5%

(7) Cash interest of LIBOR+6.125% plus payment-in-kind interest of 2.5%

Aggregate Maturities of Debt

Aggregate maturities of debt as of December 31, 2013 are as follows:

(in $ millions)	Year Ending December 31, (2)
2014		45
2015		43
2016		1,978
2017		33
2018		18
Thereafter (1)		1,456
		3,573

(1) The term loans maturing in June 2019 and the revolver availability through June 2018 are subject to a reduction in maturity to November 2015, December 2015, June 2016 or September 2016 if the Company is unable to repay or refinance its outstanding debt under the Second Lien Credit Agreement or its unsecured debt prior to their maturity dates.

(2) The above table excludes (i) $70 million of payment-in-kind interest and $10 million of repayment fees for the Tranche 2 Loans and Senior Notes, of which $6 million of payment-in-kind interest has been accrued within other non-current liabilities as of December 31, 2013 and (ii) $26 million of debt discount on term loans under the Sixth Amendment and Restated Credit Agreement and Second Lien Credit Agreement.

Summary of Movement in Deferred Financing Costs

The movement in deferred financing costs is summarized below:

(in $ millions)	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Balance as of January 1		74			98			37
Capitalization of debt finance costs		29			13			84
Amortization		(24	)		(37	)		(23	)
Written-off as loss on extinguishment		(39	)		—			—
Balance as of December 31		40			74			98