Long-term Debt and Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt and other borrowing arrangements consisted of:

	Maturity Date	As of December 31,
		2015			2014
4⅞% Senior Notes	November 2017	$	300		$	300
Floating Rate Senior Notes	December 2017	249			248
Floating Rate Term Loan (a)	March 2019	970			980
9¾% Senior Notes	March 2020	—			223
6% Euro-denominated Senior Notes	March 2021	502			561
5⅛% Senior Notes	June 2022	400			400
5½% Senior Notes	April 2023	674			674
5¼% Senior Notes	March 2025	375			—
Other (b)		46			34
Deferred financing fees		(55		)	(67		)
Total		3,461			3,353
Less: Short-term debt and current portion of long-term debt		26			28
Long-term debt		$	3,435		$	3,325

__________

^(a)  The floating rate term loan is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.

^(b)  Primarily includes capital leases which are secured by liens on the related assets.

Contractual Maturities of Company's Corporate Debt

The following table provides contractual maturities of the Company’s corporate debt at December 31, 2015:

Year	Amount
2016	$	26
2017	564
2018	14
2019	948
2020	2
Thereafter	1,962
	$	3,516

Schedule of Committed Credit Facilities

At December 31, 2015, the committed corporate credit facilities available to the Company and/or its subsidiaries were as follows:

	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Senior revolving credit facility maturing 2018 (a)	$	1,800	$	—	$	687	$	1,113
Other facilities (b)	3		3		—		—

__________

^(a)  The senior revolving credit facility bears interest at one-month LIBOR plus 200 basis points and is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.

^(b)  These facilities encompass bank overdraft lines of credit, bearing interest of 1.50% to 3.48% as of December 31, 2015.