XML 64 R52.htm IDEA: XBRL DOCUMENT v3.20.2
Debt (Details)
$ / shares in Units, € in Millions, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 31, 2020
USD ($)
May 31, 2020
USD ($)
Nov. 30, 2019
EUR (€)
Jul. 31, 2019
EUR (€)
Sep. 30, 2020
USD ($)
item
$ / shares
Sep. 30, 2020
USD ($)
item
agreement
$ / shares
Dec. 31, 2021
item
Jun. 30, 2021
item
Sep. 30, 2020
EUR (€)
item
Dec. 31, 2019
USD ($)
Dec. 31, 2019
EUR (€)
Sep. 30, 2019
USD ($)
Sep. 30, 2019
EUR (€)
Debt Instrument                          
Total long-term debt         $ 5,296 $ 5,296       $ 5,484   $ 5,814  
Less amounts due within one year         133 133       49   302  
Long-term debt         $ 5,163 $ 5,163       5,435   5,512  
Number financial maintenance covenants | agreement           1              
Maximum Leverage Ratio may increase | item           0.5              
Maximum                          
Debt Instrument                          
Leverage Ratio | item         5.0 5.0     5.0        
Maximum Borrowing Capacity         $ 3,000 $ 3,000              
Maximum | Forecast                          
Debt Instrument                          
Leverage Ratio | item             4.50 4.75          
Secured Credit Agreement                          
Debt Instrument                          
Unused Credit         $ 1,295 $ 1,295              
Weighted average interest rate (as a percent)         1.63% 1.63%     1.63%        
Secured Credit Agreement | Minimum                          
Debt Instrument                          
Interest rate margin, Eurocurrency Rate loans (as a percent)         1.00% 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%     1.50%        
Interest rate margin, Base Rate loans (as a percent)           0.50%              
Revolving Loans                          
Debt Instrument                          
Total long-term debt         $ 195 $ 195           265  
Term Loan A                          
Debt Instrument                          
Total long-term debt         1,157 1,157       1,477   1,496  
Face Value         1,500 1,500              
Net proceeds, after deducting debt issuance costs           1,157              
Other secured debt                          
Debt Instrument                          
Total long-term debt         109 109       333   454  
Debt redeemed   $ 105                      
Senior Notes                          
Debt Instrument                          
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees         $ 38 $ 38              
Senior Notes 6.75%, due 2020 (500 million EUR)                          
Debt Instrument                          
Total long-term debt                       273 € 500
Interest rate, stated percentage     6.75% 6.75% 6.75% 6.75%     6.75%        
Debt redeemed | €     € 250 € 250                  
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees         $ 24 $ 24              
Senior Notes 4.875%, due 2021 (0 million EUR at September 30, 2020, 118 million EUR December 31, 2019 and 330 million EUR at September 30, 2019)                          
Debt Instrument                          
Total long-term debt                 € 0 132 € 118 360 330
Interest rate, stated percentage   4.875% 4.875%   4.875% 4.875%     4.875%        
Debt redeemed   $ 130 € 212                    
Senior Notes 5.00%, due 2022                          
Debt Instrument                          
Total long-term debt                   497   498  
Interest rate, stated percentage 5.00% 5.00%     5.00% 5.00%     5.00%        
Debt redeemed $ 81 $ 419                      
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees $ 6                        
Senior Notes 4.00%, due 2023                          
Debt Instrument                          
Total long-term debt         $ 307 $ 307       307   307  
Interest rate, stated percentage         4.00% 4.00%     4.00%        
Fair values of fixed rate debt obligations                          
Principal Amount         $ 310 $ 310              
Indicated Market Price (in dollars per share) | $ / shares         $ 101.71 $ 101.71              
Fair Value         $ 315 $ 315              
Senior Notes 5.875%, due 2023                          
Debt Instrument                          
Total long-term debt         $ 691 $ 691       689   690  
Interest rate, stated percentage         5.875% 5.875%     5.875%        
Fair values of fixed rate debt obligations                          
Principal Amount         $ 700 $ 700              
Indicated Market Price (in dollars per share) | $ / shares         $ 105.64 $ 105.64              
Fair Value         $ 739 $ 739              
Senior Notes 3.125%, due 2024 (725 million EUR)                          
Debt Instrument                          
Total long-term debt         $ 873 $ 873     € 725 824 725 818 € 725
Interest rate, stated percentage         3.125% 3.125%     3.125%        
Fair values of fixed rate debt obligations                          
Principal Amount         $ 851 $ 851              
Indicated Market Price (in dollars per share) | $ / shares         $ 101.22 $ 101.22              
Fair Value         $ 861 $ 861              
Senior Notes 6.375%, due 2025                          
Debt Instrument                          
Total long-term debt         $ 296 $ 296       295   296  
Interest rate, stated percentage         6.375% 6.375%     6.375%        
Fair values of fixed rate debt obligations                          
Principal Amount         $ 300 $ 300              
Indicated Market Price (in dollars per share) | $ / shares         $ 109.17 $ 109.17              
Fair Value         $ 328 $ 328              
Senior Notes, 5.375% due 2025                          
Debt Instrument                          
Total long-term debt         $ 298 $ 298       297   298  
Interest rate, stated percentage         5.375% 5.375%     5.375%        
Fair values of fixed rate debt obligations                          
Principal Amount         $ 300 $ 300              
Indicated Market Price (in dollars per share) | $ / shares         $ 106.35 $ 106.35              
Fair Value         $ 319 $ 319              
Senior Notes 2.875%, due 2025 (500 million EUR)                          
Debt Instrument                          
Total long-term debt     € 500   $ 579 $ 579     € 500 552 € 500    
Interest rate, stated percentage     2.875%   2.875% 2.875%     2.875%        
Net proceeds, after deducting debt issuance costs | €     € 492                    
Fair values of fixed rate debt obligations                          
Principal Amount         $ 587 $ 587              
Indicated Market Price (in dollars per share) | $ / shares         $ 99.19 $ 99.19              
Fair Value         $ 582 $ 582              
Senior Notes 6.625%, due 2027                          
Debt Instrument                          
Total long-term debt   $ 700     $ 691 $ 691              
Interest rate, stated percentage   6.625%     6.625% 6.625%     6.625%        
Net proceeds, after deducting debt issuance costs   $ 690                      
Fair values of fixed rate debt obligations                          
Principal Amount         $ 700 $ 700              
Indicated Market Price (in dollars per share) | $ / shares         $ 108.48 $ 108.48              
Fair Value         $ 759 $ 759              
Finance leases                          
Debt Instrument                          
Total long-term debt         94 94       70   43  
Other                          
Debt Instrument                          
Total long-term debt         6 6       $ 11   $ 16  
Revolving Credit Facility                          
Debt Instrument                          
Total long-term debt         300 $ 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 $ 1,200