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Debt | 9 Months Ended
--- | ---
Sep. 30, 2016
Debt Disclosure [Abstract] |
Debt | Debt The Company's outstanding debt was as follows:
| September 30, 2016 |  | December 31, 2015
| Principal |  | Carrying |  | Principal |  | Carrying
| outstanding |  | amount |  | outstanding |  | amount
Short-term debt | $ | 49 |  |  | $ | 49 |  |  | $ | 54 |  |  | $ | 54 |
Long-term debt |  |  |  |  |  |  |
Senior secured borrowings: |  |  |  |  |  |  |
Revolving credit facilities | $ | 106 |  |  | $ | 106 |  |  | $ | — |  |  | $ | — |
Term loan facilities |  |  |  |  |  |  |
U.S. dollar at LIBOR + 1.75% due 2018 | 731 |  |  | 725 |  |  | 831 |  |  | 821 |
€665 Euro at EURIBOR + 1.75% due 2018 | 73 |  |  | 72 |  |  | 723 |  |  | 714 |
Farm credit facility at LIBOR + 2.00% due 2019 | 355 |  |  | 351 |  |  | 355 |  |  | 350 |
Senior notes and debentures: |  |  |  |  |  |  |
U.S. dollar at 6.25% due 2021 | — |  |  | — |  |  | 700 |  |  | 694 |
€650 at 4.0% due 2022 | 731 |  |  | 722 |  |  | 706 |  |  | 697 |
U. S. dollar at 4.50% due 2023 | 1,000 |  |  | 990 |  |  | 1,000 |  |  | 989 |
€600 at 2.625% due 2024 | 675 |  |  | 667 |  |  | — |  |  | — |
€600 at 3.375% due 2025 | 675 |  |  | 666 |  |  | 652 |  |  | 642 |
U.S. dollar at 4.25% due 2026 | 400 |  |  | 395 |  |  | — |  |  | — |
U.S. dollar at 7.375% due 2026 | 350 |  |  | 347 |  |  | 350 |  |  | 346 |
U.S. dollar at 7.50% due 2096 | 45 |  |  | 45 |  |  | 45 |  |  | 45 |
Other indebtedness in various currencies | 132 |  |  | 132 |  |  | 166 |  |  | 166 |
Total long-term debt | 5,273 |  |  | 5,218 |  |  | 5,528 |  |  | 5,464 |
Less current maturities | (122 | ) |  | (121 | ) |  | (211 | ) |  | (209 | )
Total long-term debt, less current maturities | $ | 5,151 |  |  | $ | 5,097 |  |  | $ | 5,317 |  |  | $ | 5,255 |
The estimated fair value of the Company’s long-term borrowings, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $5,445 at September 30, 2016 and $5,540 at December 31, 2015. In February 2016, the Company amended its credit agreement to provide for an additional $300 of term loan borrowings, the proceeds of which, along with borrowings under the revolving credit facilities and cash on hand were used to redeem the Company's $700 6.25% senior notes due 2021. In connection with the redemption, the Company recorded a loss from early extinguishment of debt of $27 for premiums paid and the write-off of deferred financing fees. In September 2016, the Company issued €600 ($675 at September 30, 2016) principal amount of 2.625% senior unsecured notes due 2024. The notes were issued at par by Crown European Holdings S.A., a subsidiary of the Company, and are unconditionally guaranteed by the Company and certain of its subsidiaries. The Company used the proceeds to repay a portion of the Euro term loan facility. In connection with the repayment, the Company recorded a loss from early extinguishment of debt of $7 for the write-off of deferred financing fees. In September 2016, the Company also issued $400 principal amount of 4.25% senior unsecured notes due 2026. The notes were issued at par by Crown Americas LLC, a subsidiary of the Company, and are unconditionally guaranteed by the Company and certain of its subsidiaries. The Company used the proceeds to repay a portion of the U.S dollar term loan facility. In connection with the repayment, the Company recorded a loss from early extinguishment of debt of $3 for the write-off of deferred financing fees.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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