XML 66 R92.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Debt (Details)
$ / shares in Units, € in Millions, $ in Millions
1 Months Ended 12 Months Ended
Nov. 30, 2019
EUR (€)
Dec. 31, 2019
USD ($)
item
agreement
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2021
item
Jun. 30, 2021
item
Dec. 31, 2019
EUR (€)
item
Dec. 31, 2019
USD ($)
item
$ / shares
Jul. 31, 2019
EUR (€)
Dec. 31, 2018
EUR (€)
Dec. 31, 2018
USD ($)
Debt Instrument                      
Total long-term debt               $ 5,484     $ 5,214
Less amounts due within one year               49     33
Long-term debt               $ 5,435     5,181
Number financial maintenance covenants | agreement   1                  
Maximum Leverage Ratio may increase | item   0.5                  
Net proceeds, after deducting debt issuance costs   $ 4,265 $ 2,511 $ 1,458              
Additional interest charges for related party fees   5                  
Maximum                      
Debt Instrument                      
Leverage Ratio | item             5.0 5.0      
Maximum Borrowing Capacity               $ 3,000      
Maximum | Forecast                      
Debt Instrument                      
Leverage Ratio | item         4.50 4.75          
Prior Agreement                      
Debt Instrument                      
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees   $ 4                  
Secured Credit Agreement                      
Debt Instrument                      
Unused Credit               $ 1,500      
Weighted average interest rate (as a percent)             3.41% 3.41%      
Secured Credit Agreement | Minimum                      
Debt Instrument                      
Interest rate margin, Eurocurrency Rate loans (as a percent)             1.00% 1.00%      
Interest rate margin, Base Rate loans (as a percent)   0.00%                  
Secured Credit Agreement | Maximum                      
Debt Instrument                      
Interest rate margin, Eurocurrency Rate loans (as a percent)             1.50% 1.50%      
Interest rate margin, Base Rate loans (as a percent)   0.50%                  
Term Loan A                      
Debt Instrument                      
Total long-term debt               $ 1,477      
Face Value               1,500      
Net proceeds, after deducting debt issuance costs   $ 1,477                  
Term Loan A | Prior Agreement                      
Debt Instrument                      
Total long-term debt                     897
Other secured debt                      
Debt Instrument                      
Total long-term debt               $ 333     404
Senior Notes 6.75%, due 2020 (500 million EUR)                      
Debt Instrument                      
Total long-term debt € 250           € 500   € 250   570
Interest rate, stated percentage 6.75%           6.75% 6.75%      
Senior Notes 4.875%, due 2021 (118 million EUR at December 31, 2019 and 330 million EUR at December 31, 2018)                      
Debt Instrument                      
Total long-term debt € 212           € 118 $ 132   € 330 376
Interest rate, stated percentage 4.875%           4.875% 4.875%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 132      
Indicated Market Price (in dollars per share) | $ / shares               $ 106.10      
Fair Value               $ 140      
Senior Notes 5.00%, due 2022                      
Debt Instrument                      
Total long-term debt               $ 497     497
Interest rate, stated percentage             5.00% 5.00%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 500      
Indicated Market Price (in dollars per share) | $ / shares               $ 103.86      
Fair Value               $ 519      
Senior Notes 4.00%, due 2023                      
Debt Instrument                      
Total long-term debt               $ 307     306
Interest rate, stated percentage             4.00% 4.00%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 310      
Indicated Market Price (in dollars per share) | $ / shares               $ 101.45      
Fair Value               $ 314      
Senior Notes 5.875%, due 2023                      
Debt Instrument                      
Total long-term debt               $ 689     688
Interest rate, stated percentage             5.875% 5.875%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 700      
Indicated Market Price (in dollars per share) | $ / shares               $ 107.11      
Fair Value               $ 750      
Senior Notes 3.125%, due 2024 (725 million EUR)                      
Debt Instrument                      
Total long-term debt             € 725 $ 824     825
Interest rate, stated percentage             3.125% 3.125%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 812      
Indicated Market Price (in dollars per share) | $ / shares               $ 106.72      
Fair Value               $ 867      
Senior Notes 6.375%, due 2025                      
Debt Instrument                      
Total long-term debt               $ 295     295
Interest rate, stated percentage             6.375% 6.375%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 300      
Indicated Market Price (in dollars per share) | $ / shares               $ 109.67      
Fair Value               $ 329      
Senior Notes, 5.375% due 2025                      
Debt Instrument                      
Total long-term debt               $ 297     297
Interest rate, stated percentage             5.375% 5.375%      
Fair values of fixed rate debt obligations                      
Principal Amount               $ 300      
Indicated Market Price (in dollars per share) | $ / shares               $ 104.09      
Fair Value               $ 312      
Senior Notes 2.875%, due 2025 (500 million EUR)                      
Debt Instrument                      
Total long-term debt € 500           € 500 $ 552      
Interest rate, stated percentage 2.875%           2.875% 2.875%      
Net proceeds, after deducting debt issuance costs | € € 492                    
Fair values of fixed rate debt obligations                      
Principal Amount               $ 560      
Indicated Market Price (in dollars per share) | $ / shares               $ 103.85      
Fair Value               $ 582      
Finance leases                      
Debt Instrument                      
Total long-term debt               70     45
Other                      
Debt Instrument                      
Total long-term debt               11     $ 14
Revolving Credit Facility                      
Debt Instrument                      
Total long-term debt               300      
Additional default interest rate per annum applied to all obligations owed under the Agreement   2.00%                  
Revolving Credit Facility | Minimum                      
Debt Instrument                      
Facility fee payable (as a percent)   0.20%                  
Revolving Credit Facility | Maximum                      
Debt Instrument                      
Facility fee payable (as a percent)   0.30%                  
Multicurrency Revolving Credit Facility                      
Debt Instrument                      
Total long-term debt               $ 1,200      
Senior Notes 6.75%, due 2020 and Senior Notes 4.875%, due 2021                      
Debt Instrument                      
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees   $ 56