Borrowings and Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2015

Debt and Bank Credit Agreements and Leases

Long-term Debt Obligations



	As of December 31,
($ in millions)	2015		2014
3.875% notes, due 2015 (€300)	$	—	$	363
1.9 % notes, due 2016⁽¹⁾	250		249
3-year variable rate bank loan, due 2017 (€500)	544		605
6.65% notes, due 2018	125		125
2.3% notes, due 2019	297		297
3.6% notes, due 2020	496		494
9% non-callable debentures, due 2021⁽¹⁾	133		133
0.875% notes, due 2022 (€600)	647		—
1.4% notes, due 2027 (€600)	641		—
2.5% note, due 2029 (€80)	86		95
7.70% notes, due 2038	174		174
5.5% notes, due 2040	246		246
3% note, due 2044 (€120)	122		136
Commercial paper	459		935
Impact of derivatives on debt⁽¹⁾	4		9
Various other non-U.S. debt, weighted average 6.1% as of December 31, 2015 and 2.3% of December 31, 2014.	42		5
Capital lease obligations	30		33
Total	4,296		3,899
Less payments due within one year	254		366
Long-term debt	$	4,042	$	3,533

(1)

PPG entered into several interest rate swaps which had the effect of converting fixed rate notes to variable rates, based on the three-month London Interbank Offered Rate (LIBOR). There were no interest rate swaps outstanding related to these instruments as of December 31, 2015 and 2014. The impact of the derivatives on debt represents the fair value adjustment of the debt while the interest rate swaps were outstanding, which is being amortized as a reduction to interest expense over the remaining term of the debt. The weighted average effective interest rate for these borrowings, including the effects of the swaps, was 3.1% and 3.9% for the years ended December 31, 2015 and 2014, respectively. Refer to Note 9 for additional information.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year are as follows:



($ in millions)	As of December 31, 2015
2016	$	177
2017	146
2018	120
2019	86
2020	60
Beyond 2020	$	198

Short-Term Debt Outstanding

Short-term debt outstanding as of December 31, 2015 and 2014, was as follows:



($ in millions)	2015		2014
Various, weighted average 13.2% as of December 31, 2015 and 2.5% as of December 31, 2014	$	29	$	115
Total	$	29	$	115