Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt

Long-term Debt

	2023		2022
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—
Term Loans:
Term Loan A		1,391		1,426
Senior Notes:
5.875%, due 2023				249
3.125%, due 2024 (€58 million at December 31, 2023 and €725 million at December 31, 2022)		63		731
6.375%, due 2025		299		298
5.375%, due 2025		17		299
2.875%, due 2025 (€500 million)		551		529
6.625%, due 2027		608		607
6.250%, due 2028 (€600 million)		656
4.750%, due 2030		396		396
7.250%, due 2031		682
Finance leases		174		132
Other		3		4
Total long-term debt		4,840		4,671
Less amounts due within one year		142		300
Long-term debt	$	4,698	$	4,371

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

	Principal Amount		Indicated Market Price		Fair Value
Senior Notes:
3.125%, due 2024 (€58 million)	$	64	$	99.75	$	64
6.375%, due 2025		300		100.89		303
5.375%, due 2025		17		100.39		17
2.875%, due 2025 (€500 million)		553		99.12		548
6.625%, due 2027		612		100.59		616
6.250%, due 2028 (€600 million)		664		104.99		697
4.750%, due 2030		400		94.42		378
7.250%, due 2031		690		101.88		703