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Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at December 31, 2019 and 2018.

		December 31,
		2019				2018
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due May 2025		$	884			$	893
Tranche B-2 euro term loan due May 2025 (€344 at December 31, 2019 and €347 at December 31, 2018)			383				396
Senior unsecured notes:
6.625% due May 2023			908				908
7.000% due May 2025			750				750
4.000% due May 2026 (€450 at December 31, 2019 and 2018)			501				513
5.375% due May 2027			500				500
Securitization Facility			110				—
Finance lease liabilities			59				2
Financing obligation (1)			95				55
Other			6				—
Total debt			4,196				4,017
Less: Unamortized issue discounts			(8	)			(10	)
Less: Unamortized debt issuance costs			(28	)			(35	)
Less: Short-term and current maturities of long-term debt			(134	)			(13	)
Total long-term debt, net		$	4,026			$	3,959

(1) At December 31, 2019, financing obligation includes $95 in connection with the financed portion of the Chemours Discovery Hub, which was considered a build-to-suit lease liability of $55 at December 31, 2018. Refer to “Note 14 – Leases” for further details.

Schedule of Debt Principal Maturities

The following table sets forth the Company’s debt principal maturities for the next five years and thereafter.

		Year Ended
		December 31,
2020		$	122
2021			13
2022			13
2023			921
2024			13
Thereafter (1)			2,954
Total principal maturities on debt		$	4,036

(1) The Senior Secured Credit Facilities are subject to a springing maturity in the event that the senior unsecured notes due in May 2023 are not redeemed, repaid, modified, and/or refinanced within the 91-day period prior to their maturity date

Estimated Fair Values of Senior Debt Issues

The following table sets forth the estimated fair values of the Company’s senior debt issues, which are based on quotes received from third-party brokers, and are classified as Level 2 financial instruments in the fair value hierarchy. The carrying value of the Securitization Facility approximates its fair value based on its short-term nature and maturity.

		December 31, 2019								December 31, 2018
		Carrying Value				Fair Value				Carrying Value				Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due May 2025		$	884			$	865			$	893			$	862
Tranche B-2 euro term loan due May 2025 (€344 at December 31, 2019 and €347 at December 31, 2018)			383				378				396				394
Senior unsecured notes:
6.625% due May 2023			908				917				908				918
7.000% due May 2025			750				755				750				761
4.000% due May 2026 (€450 at December 31, 2019 and 2018)			501				455				513				487
5.375% due May 2027			500				450				500				454
Securitization Facility			110				110				—				—
Total senior debt			4,036			$	3,930				3,960			$	3,876
Less: Unamortized issue discounts			(8	)							(10	)
Less: Unamortized debt issuance costs			(28	)							(35	)
Total senior debt, net		$	4,000							$	3,915

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