Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt

Long-term Debt

	March 31,		December 31,		March 31,
	2017		2016		2016
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	285	$	—	$	288
Term Loans:
Term Loan A		1,370		1,395		1,534
Term Loan A (€279 million)		284		282		309
Term Loan B						558
Senior Notes:
6.75%, due 2020 (€500 million)		530		523		561
4.875%, due 2021 (€330 million)		350		345		370
5.00%, due 2022		495		495		494
5.875%, due 2023		683		682		680
3.125%, due 2024 (€725 million at March 31, 2017 and €500 million at December 31, 2016)		763		520
5.375%, due 2025		297		297		296
6.375%, due 2025		294		294		294
Senior Debentures:
7.80%, due 2018		22		250		250
Capital Leases		56		57		58
Other		26		26		32
Total long-term debt		5,455		5,166		5,724
Less amounts due within one year		24		33		62
Long-term debt	$	5,431	$	5,133	$	5,662

Information related to accounts receivable securitization program

	March 31,			December 31,			March 31,
	2017			2016			2016
Balance (included in short-term loans)	$	148		$	152		$	157
Weighted average interest rate		0.88	%		0.74	%		1.03	%

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

Fair values at March 31, 2017 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)	$	534	$	119.56	$	638
4.875%, due 2021 (€330 million)		352		113.94		401
5.00%, due 2022		500		103.00		515
5.875%, due 2023		700		105.95		742
3.125%, due 2024 (€725 million)		774		100.09		775
6.375%, due 2025		300		107.28		322
5.375%, due 2025		300		101.47		304
Senior Debentures:
7.80%, due 2018		22		105.61		23