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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at December 31, 2020 and 2019.

		December 31,
		2020				2019
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025		$	875			$	884
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)			417				383
Senior unsecured notes:
6.625% due May 2023			—				908
7.000% due May 2025			750				750
4.000% due May 2026 (€450 at December 31, 2020 and 2019)			551				501
5.375% due May 2027			500				500
5.750% due November 2028			800				—
Securitization Facility			—				110
Finance lease liabilities			74				59
Financing obligation (1)			94				95
Other			—				6
Total debt principal			4,061				4,196
Less: Unamortized issue discounts			(7	)			(8	)
Less: Unamortized debt issuance costs			(28	)			(28	)
Less: Short-term and current maturities of long-term debt			(21	)			(134	)
Total long-term debt, net		$	4,005			$	4,026

(1) At December 31, 2020 and 2019, financing obligation includes $94 and $95, respectively, in connection with the financed portion of the Chemours Discovery Hub. 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.

2021		$	13
2022			13
2023			13
2024			13
2025			1,990
Thereafter			1,851
Total principal maturities on debt		$	3,893

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 borrowings under the Securitization Facility approximate fair value based on the facility’s short-term nature and maturity.

		December 31, 2020								December 31, 2019
		Carrying Value				Fair Value				Carrying Value				Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025		$	875			$	862			$	884			$	865
Tranche B-2 euro term loan due April 2025 (€340 at December 31, 2020 and €344 at December 31, 2019)			417				413				383				378
Senior unsecured notes:
6.625% due May 2023			—				—				908				917
7.000% due May 2025			750				774				750				755
4.000% due May 2026 (€450 at December 31, 2020 and 2019)			551				551				501				455
5.375% due May 2027			500				536				500				450
5.750% due November 2028			800				821				—				—
Securitization Facility			—				—				110				110
Total senior debt principal			3,893			$	3,957				4,036			$	3,930
Less: Unamortized issue discounts			(7	)							(8	)
Less: Unamortized debt issuance costs			(28	)							(28	)
Total senior debt, net		$	3,858							$	4,000

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