Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt

Long-term Debt

	March 31,		December 31,		March 31,
	2018		2017		2017
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	462	$	—	$	285
Term Loans:
Term Loan A		1,149		1,148		1,370
Term Loan A (€279 million at March 31, 2017)						284
Senior Notes:
6.75%, due 2020 (€500 million)		613		594		530
4.875%, due 2021 (€330 million)		404		392		350
5.00%, due 2022		496		496		495
4.00%, due 2023		305		305
5.875%, due 2023		686		685		683
3.125%, due 2024 (€725 million at March 31, 2018)		872		849		763
6.375%, due 2025		295		295		294
5.375%, due 2025		297		297		297
Senior Debentures:
7.80%, due 2018						22
Capital Leases		53		54		56
Other		19		17		26
Total long-term debt		5,651		5,132		5,455
Less amounts due within one year		11		11		24
Long-term debt	$	5,640	$	5,121	$	5,431

Information related to accounts receivable securitization program

	March 31,			December 31,			March 31,
	2018			2017			2017
Balance (included in short-term loans)	$	144		$	133		$	148
Weighted average interest rate		1.01	%		0.76	%		0.88	%

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

Fair values at March 31, 2018 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)	$	616	$	114.41	$	704
4.875%, due 2021 (€330 million)		406		110.78		450
5.00%, due 2022		500		101.50		508
5.875%, due 2023		700		103.89		727
4.00%, due 2023		310		95.53		296
3.125%, due 2024 (€725 million)		893		101.91		910
6.375%, due 2025		300		107.60		323
5.375%, due 2025		300		101.40		304