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Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt

Long-term Debt

		June 30,			December 31,			June 30,
		2014			2013			2013
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans		$	65		$	—		$	—
Term Loans:
Term Loan A								23
Term Loan B		405			405			525
Term Loan C (81 million CAD at June 30, 2014)		76			76			97
Term Loan D (€85 million at June 30, 2014)		116			117			161
Senior Notes:
3.00%, Exchangeable, due 2015		611			617			607
7.375%, due 2016		595			593			592
6.75%, due 2020 (€500 million)		682			690			653
4.875%, due 2021 (€330 million)		450			455			431
Senior Debentures:
7.80%, due 2018		250			250			250
Other		66			58			84
Total long-term debt		3,316			3,261			3,423
Less amounts due within one year		696			16			87
Long-term debt		$	2,620		$	3,245		$	3,336

Information related to accounts receivable securitization program

		June 30,			December 31,			June 30,
		2014			2013			2013
Balance (included in short-term loans)		$	294		$	276		$	290
Weighted average interest rate		1.44		%	1.41		%	1.20		%

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

					Indicated
		Principal			Market		Fair
		Amount			Price		Value
Senior Notes:
3.00%, Exchangeable, due 2015		$	611		102.52		$	626
7.375%, due 2016		595			110.63		658
6.75%, due 2020 (€500 million)		682			117.99		805
4.875%, due 2021 (€330 million)		450			107.68		485
Senior Debentures:
7.80%, due 2018		250			116.81		292

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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