Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt

Long-term Debt

	September 30,		December 31,		September 30,
	2016		2015		2015
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—	$	220
Term Loans:
Term Loan A		1,516		1,546		1,546
Term Loan A (€279 million at September 30, 2016)		303		301		309
Term Loan B		558		563		563
Senior Notes:
6.75%, due 2020 (€500 million)		557		542		557
4.875%, due 2021 (€330 million)		367		357		367
5.00%, due 2022		495		494		494
5.875%, due 2023		681		680		679
5.375%, due 2025		296		296		296
6.375%, due 2025		294		293		293
Senior Debentures:
7.80%, due 2018		250		250		250
Capital Leases		62		62		60
Other		30		29		32
Total long-term debt		5,409		5,413		5,666
Less amounts due within one year		76		68		57
Long-term debt	$	5,333	$	5,345	$	5,609

Information related to accounts receivable securitization program

	September 30,			December 31,			September 30,
	2016			2015			2015
Balance (included in short-term loans)	$	158		$	158		$	173
Weighted average interest rate		0.67	%		1.21	%		1.11	%

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

Fair values at September 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)	$	561	$	120.37	$	675
4.875%, due 2021 (€330 million)		370		114.45		423
5.00%, due 2022		500		106.31		532
5.875%, due 2023		700		107.75		754
6.375%, due 2025		300		111.00		333
5.375%, due 2025		300		104.75		314
Senior Debentures:
7.80%, due 2018		250		108.59		271