Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt

Long-term Debt

	June 30,		December 31,		June 30,
	2016		2015		2015
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	203	$	—	$	—
Term Loans:
Term Loan A		1,525		1,546		900
Term Loan A (€279 million at June 30, 2016)		301		301		312
Term Loan B		558		563
Senior Notes:
7.375%, due 2016						299
6.75%, due 2020 (€500 million)		551		542		560
4.875%, due 2021 (€330 million)		363		357		369
5.00%, due 2022		494		494		494
5.875%, due 2023		681		680
5.375%, due 2025		296		296		296
6.375%, due 2025		294		293
Senior Debentures:
7.80%, due 2018		250		250		250
Capital Leases		63		62		64
Other		32		29		21
Total long-term debt		5,611		5,413		3,565
Less amounts due within one year		62		68		348
Long-term debt	$	5,549	$	5,345	$	3,217

Information related to accounts receivable securitization program

	June 30,			December 31,			June 30,
	2016			2015			2015
Balance (included in short-term loans)	$	173		$	158		$	192
Weighted average interest rate		0.70	%		1.21	%		1.12	%

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

Fair values at June 30, 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)	$	555	$	117.51	$	652
4.875%, due 2021 (€330 million)		366		110.44		404
5.00%, due 2022		500		100.50		503
5.875%, due 2023		700		104.94		735
6.375%, due 2025		300		105.75		317
5.375%, due 2025		300		98.28		295
Senior Debentures:
7.80%, due 2018		250		110.19		275