Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt

Long-term Debt

	June 30,		December 31,		June 30,
	2017		2016		2016
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	209	$	—	$	203
Term Loans:
Term Loan A		1,370		1,395		1,525
Term Loan A (€279 million)		303		282		301
Term Loan B						558
Senior Notes:
6.75%, due 2020 (€500 million)		569		523		551
4.875%, due 2021 (€330 million)		375		345		363
5.00%, due 2022		496		495		494
5.875%, due 2023		684		682		681
3.125%, due 2024 (€725 million at June 30, 2017 and €500 million at December 31, 2016)		819		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		58		57		63
Other		22		26		32
Total long-term debt		5,518		5,166		5,611
Less amounts due within one year		47		33		62
Long-term debt	$	5,471	$	5,133	$	5,549

Information related to accounts receivable securitization program

	June 30,			December 31,			June 30,
	2017			2016			2016
Balance (included in short-term loans)	$	182		$	152		$	173
Weighted average interest rate		0.74	%		0.74	%		0.70	%

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

Fair values at June 30, 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)	$	572	$	119.06	$	681
4.875%, due 2021 (€330 million)		377		114.02		430
5.00%, due 2022		500		105.45		527
5.875%, due 2023		700		110.21		771
3.125%, due 2024 (€725 million)		829		101.66		843
6.375%, due 2025		300		111.73		335
5.375%, due 2025		300		106.23		319
Senior Debentures:
7.80%, due 2018		22		105.02		23