XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt | 9 Months Ended
--- | ---
Sep. 30, 2021
Debt Disclosure [Abstract] |
Debt | Debt The Company's outstanding debt was as follows:
| September 30, 2021 |  | December 31, 2020
| Principal |  | Carrying |  | Principal |  | Carrying
| outstanding |  | amount |  | outstanding |  | amount
Short-term debt | $ | 79 |  |  | $ | 79 |  |  | $ | 104 |  |  | $ | 104 |
Long-term debt |  |  |  |  |  |  |
Senior secured borrowings: |  |  |  |  |  |  |
Revolving credit facilities | — |  |  | — |  |  | — |  |  | — |
Term loan facilities |  |  |  |  |  |  |
U.S. dollar at LIBOR + 1.2% due 2024 | 1,009 |  |  | 1,004 |  |  | 1,029 |  |  | 1,023 |
Euro at EURIBOR + 1.2% due 2024 1 | 357 |  |  | 357 |  |  | 387 |  |  | 387 |
Senior notes and debentures: |  |  |  |  |  |  |
€650 at 4.0% due 2022 | 753 |  |  | 752 |  |  | 794 |  |  | 791 |
U. S. dollar at 4.50% due 2023 | 1,000 |  |  | 998 |  |  | 1,000 |  |  | 997 |
€335 at 2.25% due 2023 | 388 |  |  | 387 |  |  | 409 |  |  | 407 |
€550 at 0.75% due 2023 | 637 |  |  | 634 |  |  | 671 |  |  | 666 |
€600 at 2.625% due 2024 | 695 |  |  | 692 |  |  | 733 |  |  | 729 |
€600 at 3.375% due 2025 | 695 |  |  | 691 |  |  | 733 |  |  | 728 |
U.S. dollar at 4.25% due 2026 | 400 |  |  | 396 |  |  | 400 |  |  | 396 |
U.S. dollar at 4.75% due 2026 | 875 |  |  | 866 |  |  | 875 |  |  | 865 |
U.S. dollar at 7.375% due 2026 | 350 |  |  | 348 |  |  | 350 |  |  | 348 |
€500 at 2.875% due 2026 | 580 |  |  | 575 |  |  | 610 |  |  | 603 |
U.S. dollar at 7.50% due 2096 | 40 |  |  | 40 |  |  | 40 |  |  | 40 |
Other indebtedness in various currencies | 156 |  |  | 156 |  |  | 110 |  |  | 110 |
Total long-term debt | 7,935 |  |  | 7,896 |  |  | 8,141 |  |  | 8,090 |
Less current maturities | (1,865) |  |  | (1,862) |  |  | (67) |  |  | (67) |
Total long-term debt, less current maturities | $ | 6,070 |  |  | $ | 6,034 |  |  | $ | 8,074 |  |  | $ | 8,023 |
(1) €308 and €317 at September 30, 2021 and December 31, 2020 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 $8,330 at September 30, 2021 and $8,617 at December 31, 2020. In September 2021, the Company issued an unconditional notice of redemption to redeem all of its €650 ($753 as of September 30, 2021) 4.0% senior notes due 2022 and its $1,000 4.5% senior notes due 2023. The senior notes were redeemed in October 2021. In connection with the redemption, the Company expects to record a loss from early extinguishment of debt of approximately $67 in the fourth quarter of 2021 for premium payments and the write-off of deferred financing fees.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration