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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Outstanding Debt

			2020												2019
			Principal						Carrying						Principal						Carrying
			outstanding						amount						outstanding						amount
Short-term debt			$	121					$	121					$	75					$	75
Long-term debt
Senior secured borrowings:
Term loan facilities
U.S. dollar at LIBOR plus 1.5% due 2024			1,029						1,023						1,100						1,094
Euro at EURIBOR plus 1.5% due 20241			387						387						505						504
Senior notes and debentures:
€650 at 4.0% due 2022			794						791						729						725
U. S. dollar at 4.50% due 2023			1,000						997						1,000						995
€335 at 2.25% due 2023			409						407						376						372
€550 at 0.75% due 2023			671						666						617						610
€600 at 2.625% due 2024			733						729						673						668
€600 at 3.375% due 2025			733						728						673						667
U.S. dollar at 4.25% due 2026			400						396						400						395
U.S. dollar at 4.75% due 2026			875						865						875						863
U.S. dollar at 7.375% due 2026			350						348						350						348
€500 at 2.875% due 2026			610						603						561						554
U.S. dollar at 7.50% due 2096			40						40						40						40
Other indebtedness in various currencies:
Fixed rate with rates in 2020 from 3.9% to 7.8% due through 2026			97						97						39						39
Variable rate with average rates in 2020 from 2.3% to 2.7% due through 2027			13						13						6						6
Total long-term debt			8,141						8,090						7,944						7,880
Less: current maturities			(67)						(67)						(62)						(62)
Total long-term debt, less current maturities			$	8,074					$	8,023					$	7,882					$	7,818

(1) €317 and €450 at December 31, 2020 and 2019

Schedule of Weighted Average Interest Rates

The weighted average interest rates were as follows: 

			2020						2019						2018
Short-term debt			1.9		%				2.6		%				1.0		%
Revolving credit facilities			2.8		%				3.8		%				3.2		%

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Schedule of weighted average interest rates [Table Text Block]

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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