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Long-term Corporate Debt and Borrowing Arrangements | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Long-term Corporate 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 Date |  | September 30, |  | December 31,
|  | 2022 |  | 2021
4.125% euro-denominated Senior Notes | November 2024 |  | $ | 294 |  |  | $ | 341 |
4.500% euro-denominated Senior Notes | May 2025 |  | 245 |  |  | 284 |
4.750% euro-denominated Senior Notes | January 2026 |  | 343 |  |  | 398 |
5.750% Senior Notes | July 2027 |  | 731 |  |  | 728 |
4.750% Senior Notes | April 2028 |  | 500 |  |  | 500 |
5.375% Senior Notes | March 2029 |  | 600 |  |  | 600 |
Floating Rate Term Loan (a) | August 2027 |  | 1,179 |  |  | 1,187 |
Floating Rate Term Loan | March 2029 |  | 726 |  |  | — |
Other (b) |  |  | 19 |  |  | 19 |
Deferred financing fees |  |  | (47) |  |  | (48) |
Total |  |  | 4,590 |  |  | 4,009 |
Less: Short-term debt and current portion of long-term debt |  |  | 27 |  |  | 19 |
Long-term debt |  |  | $ | 4,563 |  |  | $ | 3,990 |
__________ (a)The floating rate term loan is part of our senior revolving credit facility, which is secured by pledges of capital stock of certain of our subsidiaries, and liens on substantially all of our intellectual property and certain other real and personal property. As of September 30, 2022, the floating rate term loan due 2027 bears interest at one-month LIBOR plus 175 basis points, for an aggregate rate of 4.87%. We have 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 4.75%. (b)Primarily includes finance leases which are secured by liens on the related assets. In March 2022, we entered into a $750 million Floating Rate Term Loan due March 2029, at a price of 97% of the aggregate principal amount, with interest paid monthly, which is part of our senior credit facilities. The Floating Rate Term Loan due March 2029 bears interest at one-month Secured Overnight Financing Rate (“SOFR”) plus 350 basis points for an aggregate rate of 6.63%. Committed Credit Facilities and Available Funding Arrangements As of September 30, 2022, the committed corporate credit facilities available to us and/or our subsidiaries were as follows:
| Total Capacity |  | Outstanding Borrowings |  | Letters of Credit Issued |  | Available Capacity
Senior revolving credit facility maturing 2026 (a) | $ | 2,000 |  |  | $ | — |  |  | $ | 888 |  |  | $ | 1,112 |
__________ (a)The senior revolving credit facility bears interest at one-month LIBOR plus 175 basis points and is part of our senior credit facilities, which include the floating rate term loan and the senior revolving credit facility, and which are secured by pledges of capital stock of certain of our subsidiaries, liens on substantially all of our intellectual property and certain other real and personal property. Debt Covenants The agreements governing our indebtedness contain restrictive covenants, including restrictions on dividends paid to us by certain of our subsidiaries, the incurrence of additional indebtedness by us and certain of our subsidiaries, acquisitions, mergers, liquidations, and sale and leaseback transactions. Our senior credit facility also contains a maximum leverage ratio requirement. As of September 30, 2022, we were in compliance with the financial covenants governing our 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 https://asc.fasb.org/topic&trid=2208564 + Details
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