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DEBT AND COMMITMENTS | 12 Months Ended
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Dec. 31, 2012
DEBT AND COMMITMENTS | 14. DEBT AND COMMITMENTS
[a] | The Company’s long-term debt, which is substantially uncollateralized, consists of the following:
|  | 2012 |  |  | 2011 |
Bank term debt at a weighted average interest rate of approximately 8.0% [2011 - 9.4%], denominated primarily in Chinese renminbi and Brazilian real |  | $ | 268 |  |  | $ | 137 |
Government loans at a weighted average interest rate of approximately 5.4% [2011 - 5.8%], denominated primarily in euros |  |  | 15 |  |  |  | 18 |
Other |  |  | 78 |  |  |  | 42 |
|  |  | 361 |  |  |  | 197 |
Less due within one year |  |  | 249 |  |  |  | 151 |
|  | $ | 112 |  |  | $ | 46 |
[b] | Future principal repayments on long-term debt are estimated to be as follows:
2013 |  | $ | 249 |
2014 |  |  | 24 |
2015 |  |  | 31 |
2016 |  |  | 16 |
2017 |  |  | 16 |
Thereafter |  |  | 25 |
|  | $ | 361 |
[c] | On July 8, 2011, the Company entered into a four-year revolving credit facility in the amount of $2.25 billion. The facility, which matures on July 8, 2015, replaces a $2.0 billion revolving credit facility that was set to expire on July 31, 2012. The facility includes a $100 million Asian tranche and a tranche for Canada, U.S., and Europe, which is fully transferable between jurisdictions and can be drawn in U.S. dollars, Canadian dollars or euros.
[d] | Interest expense (income), net includes:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 27 |  |  | $ | 16 |  |  | $ | 9 |
Long-term |  |  | 7 |  |  |  | 3 |  |  |  | 2 |
|  |  | 34 |  |  |  | 19 |  |  |  | 11 |
Interest income |  |  | (18 | ) |  |  | (25 | ) |  |  | (22 | )
Interest expense (income), net |  | $ | 16 |  |  | $ | (6 | ) |  | $ | (11 | )
[e] | Interest paid in cash was $32 million for the year ended December 31, 2012 [2011 – $19 million; 2010 – $11 million].
[f] | At December 31, 2012, the Company had commitments under operating leases requiring annual rental payments as follows:
|  | Total |
2013 |  | $ | 318 |
2014 |  |  | 287 |
2015 |  |  | 256 |
2016 |  |  | 233 |
2017 |  |  | 204 |
Thereafter |  |  | 336 |
|  | $ | 1,634 |

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- Definition The entire disclosure for debt and capital lease obligations can be reported. 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. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References No definition available. + Details
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