Debt (Tables)

3 Months Ended

Mar. 31, 2016

Debt

Long-term Debt

	March 31,		December 31,		March 31,
	2016		2015		2015
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	288	$	—	$	—
Term Loans:
Term Loan A		1,534		1,546
Term Loan A (€279 million at March 31, 2016)		309		301
Term Loan B		558		563
Previous Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans						264
Term Loans:
Term Loan B (USD tranche)						389
Term Loan C (CAD tranche)						59
Term Loan D (EUR tranche)						91
Senior Notes:
3.00%, Exchangeable, due 2015						18
7.375%, due 2016						595
6.75%, due 2020 (€500 million)		561		542		534
4.875%, due 2021 (€330 million)		370		357		352
5.00%, due 2022		494		494		493
5.875%, due 2023		680		680
5.375%, due 2025		296		296		296
6.375%, due 2025		294		293
Senior Debentures:
7.80%, due 2018		250		250		249
Capital Leases		58		62		66
Other		32		29		24
Total long-term debt		5,724		5,413		3,430
Less amounts due within one year		62		68		458
Long-term debt	$	5,662	$	5,345	$	2,972

Information related to accounts receivable securitization program

	March 31,			December 31,			March 31,
	2016			2015			2015
Balance (included in short-term loans)	$	157		$	158		$	171
Weighted average interest rate		1.03	%		1.21	%		1.36	%

Fair values of the Company's significant fixed rate debt obligations

Fair values at March 31, 2016 of the Company’s significant fixed rate debt obligations are as follows:

	Principal		Indicated
	Amount		Market Price		Fair Value
Senior Notes:
6.75%, due 2020 (€500 million)	$	566	$	117.13	$	663
4.875%, due 2021 (€330 million)		374		109.69		410
5.00%, due 2022		500		101.25		506
5.875%, due 2023		700		104.38		731
5.375%, due 2025		300		100.13		300
6.375%, due 2025		300		105.13		315
Senior Debentures:
7.80%, due 2018		250		110.45		276