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Debt | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Debt | Note 11. Debt Debt obligations consist of the following:
|  | Maturity Date |  | September 30, 2020 |  |  | December 31, 2019 |
Term Loan Facility |  |  |  |  |  |  |  |  |  |
Term Loan |  | October 1, 2026 |  | $ | 1,191 |  |  | $ | 1,200 |
Revolving Credit Facility |  | October 1, 2024 |  |  | — |  |  |  | — |
Other Obligations |  |  |  |  | 6 |  |  |  | 14 |
Total debt obligations |  |  |  |  | 1,197 |  |  |  | 1,214 |
Less: unamortized deferred financing costs |  |  |  |  | (21 | ) |  |  | (24 | )
Total debt, net of deferred financing costs |  |  |  |  | 1,176 |  |  |  | 1,190 |
Less: short-term and current portion of long-term debt |  |  |  |  | (16 | ) |  |  | (19 | )
Long-term debt |  |  |  | $ | 1,160 |  |  | $ | 1,171 |
As of September 30, 2020, there was $1,191 of principal outstanding under the Term Loan bearing interest of 2.65% per annum based on one-month LIBOR plus 250 basis points. The interest rate applicable to borrowings under the Revolving Credit Facility is, at the Company’s option, either (1) a base rate plus an applicable margin equal to 1.25% or (2) a Eurocurrency rate (adjusted for statutory reserves) plus an applicable margin equal to 2.25%. At September 30, 2020 and December 31, 2019, the Company had no amounts outstanding under the Revolving Credit Facility, and $232 and $235 was available at September 30, 2020 and December 31, 2019, respectively, after giving effect to $68 and $65 of outstanding letters of credit. As of September 30, 2020 and December 31, 2019, the Company was in compliance with the applicable debt covenants contained in the Credit Agreement. One of the Company’s Canadian operations has a $20 unsecured line-of-credit agreement with a variable-interest rate based upon the prime rate. The Company had no amounts outstanding under the line of credit as of September 30, 2020 and December 31, 2019. As of September 30, 2020 and December 31, 2019, the Company had $6 and $14 in notes outstanding for the acquisition of equipment and vehicles, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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