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Debt (Tables)
 12 Months Ended
Dec. 31, 2013
Debt  
Long-term Debt

 

 

 
   2013   2012  

Secured Credit Agreement:

              

Revolving Credit Facility:

              

Revolving Loans

   $ —   $ —  

Term Loans:

              

Term Loan A

           53  

Term Loan B

     405     525  

Term Loan C (81 million CAD at December 31, 2013)

     76     102  

Term Loan D (€85 million at December 31, 2013)

     117     163  

Senior Notes:

              

3.00%, Exchangeable, due 2015

     617     642  

7.375%, due 2016

     593     591  

6.875%, due 2017 (€300 million)

           396  

6.75%, due 2020 (€500 million)

     690     660  

4.875%, due 2021 (€330 million)

     455        

Senior Debentures:

              

7.80%, due 2018

     250     250  

Other

     58     95  
           
​ ​ ​ ​ ​ ​ ​ ​

Total long-term debt

     3,261     3,477  

Less amounts due within one year

     16     23  
           
​ ​ ​ ​ ​ ​ ​ ​

Long-term debt

   $ 3,245   $ 3,454  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Carrying values of the liability and equity components of 2015 Exchangeable Notes

 

 

 
   2013   2012  

Principal amount of exchangeable notes

   $ 644   $ 690  

Unamortized discount on exchangeable notes

     27     48  
           
​ ​ ​ ​ ​ ​ ​ ​

Net carrying amount of liability component

   $ 617   $ 642  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Carrying amount of equity component

   $ 92   $ 93  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Amount of interest expense recognized on the 2015 Exchangeable Notes

 

 

 
   2013   2012  

Contractual coupon interest

   $ 20   $ 21  

Amortization of discount on exchangeable notes

     18     18  
           
​ ​ ​ ​ ​ ​ ​ ​

Total interest expense

   $ 38   $ 39  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Information related to accounts receivable securitization program

 

 

 
   2013   2012  

Balance (included in short-term loans)

   $ 276   $ 264  

Weighted average interest rate

     1.41 %   1.33 %
Fair values of the Company's significant fixed rate debt obligations

 

 

 
   Principal
Amount		   Indicated
Market
Price		   Fair
Value		  

Senior Notes:

                    

3.00%, Exchangeable, due 2015

   $ 644     104.71   $ 674  

7.375%, due 2016

     600     112.76     677  

6.75%, due 2020 (€500 million)

     690     116.50     804  

4.875%, due 2021 (€330 million)

     455     105.04     478  

Senior Debentures:

                    

7.80%, due 2018

     250     116.50     291