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Debt | 3 Months Ended
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Mar. 31, 2019
Debt |
Debt | 7. Debt As of March 31, 2019 and December 31, 2018, the Company’s total debt consisted of the following:
|  | As of |  | As of |
(in millions) |  | March 31, 2019 |  | December 31, 2018 |
3.2% senior notes due October 1, 2026 |  | $ | 496 |  | $ | 496 |
4.625% senior notes due November 1, 2020 |  |  | 399 |  |  | 399 |
6.625% senior notes due April 15, 2037 |  |  | 254 |  |  | 254 |
5.62% senior notes due March 25, 2020 |  |  | 200 |  |  | 200 |
Term loan credit agreement due April 12, 2021 |  |  | 165 |  |  | 165 |
Revolving credit facility |  |  | 443 |  |  | 418 |
Fair value adjustment related to hedged fixed rate debt instruments |  |  | - |  |  | (1) |
Long-term debt |  |  | 1,957 |  |  | 1,931 |
Short-term borrowings |  |  | 153 |  |  | 169 |
Total debt |  | $ | 2,110 |  | $ | 2,100 |
The Company’s long-term debt as of March 31, 2019 includes the Term Loan Credit Agreement (“Term Loan”) of $165 million that was due in April 2019. On April 12, 2019, the Company amended and restated the Term Loan to establish a 24-month senior unsecured term loan credit facility (“Amended Term Loan”) in an amount of up to $500 million that matures on April 12, 2021. The indebtedness outstanding under the Term Loan as of April 12, 2019, in the aggregate outstanding principal amount of $165 million, will continue as indebtedness under the Amended Term Loan. Borrowings under the Amended Term Loan are to be used for general corporate purposes. This borrowing is included in the long-term debt as the Company has the ability and intent to refinance it on a long-term basis prior to the maturity date.

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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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