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Basis of Presentation (Tables)
9 Months Ended
Sep. 30, 2014
Basis of Presentation [Abstract]  
Schedule Of Net Proceeds And Use Of Proceeds In Connection With The Initial Public Offering

 

 

 

 

 

 

 

 

 

 

(In millions)

 

 

 

Net Proceeds

 

 

 

Gross proceeds

 

$

702 

Underwriting discounts and commissions

 

 

(35)

Offering expenses

 

 

(4)

Net Proceeds

 

$

663 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

 

 

Use of Proceeds

 

 

 

Partial redemption of 8% 2020 Notes(1)

 

$

234 

Partial redemption of 7% 2020 Notes(1)

 

 

289 

Principal payment of Old Term Facilities(1) 

 

 

120 

Consulting agreement termination fees(2)

 

 

21 

Use of Proceeds

 

$

663 

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(1)

See Note 10 for further details of the total debt reduction of $835 million in July 2014.

 

(2)

See Note 15 for further details on the termination of the consulting agreements.