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Long-term Debt and Borrowing Arrangements | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Long-term Debt and Borrowing Arrangements | Long-term Corporate Debt and Borrowing Arrangements Long-term corporate debt and borrowing arrangements consisted of:
|  |  | As of |  | As of
| Maturity Dates |  | June 30, |  | December 31,
|  | 2019 |  | 2018
5½% Senior Notes (a) | April 2023 |  | $ | 675 |  |  | $ | 675 |
6⅜% Senior Notes | April 2024 |  | 350 |  |  | 350 |
4⅛% euro-denominated Senior Notes | November 2024 |  | 341 |  |  | 344 |
Floating Rate Term Loan (b) | February 2025 |  | 1,118 |  |  | 1,123 |
5¼% Senior Notes | March 2025 |  | 375 |  |  | 375 |
4½% euro-denominated Senior Notes | May 2025 |  | 284 |  |  | 287 |
4¾% euro-denominated Senior Notes | January 2026 |  | 398 |  |  | 401 |
Other (c) |  |  | 34 |  |  | 41 |
Deferred financing fees |  |  | (40 | ) |  | (45 | )
Total |  |  | 3,535 |  |  | 3,551 |
Less: Short-term debt and current portion of long-term debt |  |  | 420 |  |  | 23 |
Long-term debt |  |  | $ | 3,115 |  |  | $ | 3,528 |
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(a) | A portion of these notes have been called for redemption.
(b) | The floating rate term loan is part of the Company’s senior revolving credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property. As of June 30, 2019, the floating rate term loan due 2025 bears interest at one-month LIBOR plus 200 basis points, for an aggregate rate of 4.41%. The Company has entered into a swap to hedge $700 million of its interest rate exposure related to the floating rate term loan at an aggregate rate of 3.67%.
(c) | Primarily includes finance leases which are secured by liens on the related assets.
In June 2019, the Company called $400 million of its 5½% Senior Notes due April 2023 to be redeemed upon the issuance of its 5¾% Senior Notes in July 2019 (see Note 19–Subsequent Events.) Committed Credit Facilities and Available Funding Arrangements At June 30, 2019, the committed corporate credit facilities available to the Company and/or its subsidiaries were as follows:
| Total Capacity |  | Outstanding Borrowings |  | Letters of Credit Issued |  | Available Capacity
Senior revolving credit facility maturing 2023 (a) | $ | 1,800 |  |  | $ | — |  |  | $ | 1,225 |  |  | $ | 575 |
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(a) | The senior revolving credit facility bears interest at one-month LIBOR plus 200 basis points and is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.
At June 30, 2019, the Company had various uncommitted credit facilities available, under which it had drawn approximately $1 million, which bear interest at rates between 0.79% and 1.53%. Debt Covenants The agreements governing the Company’s indebtedness contain restrictive covenants, including restrictions on dividends paid to the Company by certain of its subsidiaries, the incurrence of additional indebtedness by the Company and certain of its subsidiaries, acquisitions, mergers, liquidations, and sale and leaseback transactions. The Company’s senior credit facility also contains a consolidated first lien leverage ratio requirement. As of June 30, 2019, the Company was in compliance with the financial covenants governing its indebtedness.

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- Definition The entire disclosure for long-term debt. + 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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