Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt

Long-term Debt

	2016		2015
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—
Term Loans:
Term Loan A		1,395		1,546
Term Loan A (€279 million at December 31, 2016)		282		301
Term Loan B				563
Senior Notes:
6.75%, due 2020 (€500 million)		523		542
4.875%, due 2021 (€330 million)		345		357
5.00%, due 2022		495		494
5.875%, due 2023		682		680
3.125%, due 2024 (€500 million)		520
5.375%, due 2025		297		296
6.375%, due 2025		294		293
Senior Debentures:
7.80%, due 2018		250		250
Capital leases		57		62
Other		26		29
Total long-term debt		5,166		5,413
Less amounts due within one year		33		68
Long-term debt	$	5,133	$	5,345

Information related to accounts receivable securitization program

	2016			2015
Balance (included in short-term loans)	$	152		$	158
Weighted average interest rate		0.74	%		1.21	%

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

	Principal		Indicated
	Amount		Market Price		Fair Value
Senior Notes:
6.75%, due 2020 (€500 million)	$	526	$	120.63	$	635
4.875%, due 2021 (€330 million)		347		114.00		396
5.00%, due 2022		500		103.49		517
5.875%, due 2023		700		105.37		738
3.125%, due 2024 (€500 million)		526		100.01		526
6.375%, due 2025		300		106.28		319
5.375%, due 2025		300		101.17		304
Senior Debentures:
7.80%, due 2018		250		106.26		266