Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt

Long-term Debt

	September 30,		December 31,		September 30,
	2017		2016		2016
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	200	$	—	$	—
Term Loans:
Term Loan A		1,202		1,395		1,516
Term Loan A (€279 million)		308		282		303
Term Loan B						558
Senior Notes:
6.75%, due 2020 (€500 million)		586		523		557
4.875%, due 2021 (€330 million)		386		345		367
5.00%, due 2022		496		495		495
5.875%, due 2023		684		682		681
3.125%, due 2024 (€725 million at September 30, 2017 and €500 million at December 31, 2016)		840		520
6.375%, due 2025		295		294		294
5.375%, due 2025		297		297		296
Senior Debentures:
7.80%, due 2018		22		250		250
Capital Leases		54		57		62
Other		56		26		30
Total long-term debt		5,426		5,166		5,409
Less amounts due within one year		48		33		76
Long-term debt	$	5,378	$	5,133	$	5,333

Information related to accounts receivable securitization program

	September 30,			December 31,			September 30,
	2017			2016			2016
Balance (included in short-term loans)	$	170		$	152		$	158
Weighted average interest rate		0.65	%		0.74	%		0.67	%

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

Fair values at September 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)	$	589	$	118.38	$	697
4.875%, due 2021 (€330 million)		389		113.85		443
5.00%, due 2022		500		105.80		529
5.875%, due 2023		700		110.65		775
3.125%, due 2024 (€725 million)		854		103.38		883
6.375%, due 2025		300		113.10		339
5.375%, due 2025		300		106.98		321
Senior Debentures:
7.80%, due 2018		22		103.77		23