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Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt

Long-term Debt

		2014			2013
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans		$	—		$	—
Term Loans:
Term Loan B			405			405
Term Loan C (81 million CAD at December 31, 2014)			70			76
Term Loan D (€85 million at December 31, 2014)			103			117
Senior Notes:
3.00%, Exchangeable, due 2015			18			617
7.375%, net of discount, due 2016			596			593
6.75%, due 2020 (€500 million)			608			690
4.875%, due 2021 (€330 million)			401			455
5.00%, due 2022			494
5.375%, due 2025			296
Senior Debentures:
7.80%, due 2018			250			250
Capital leases			63			37
Other			29			21
​	​	​	​	​	​	​	​
Total long-term debt			3,333			3,261
Less amounts due within one year			361			16
​	​	​	​	​	​	​	​
Long-term debt		$	2,972		$	3,245
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Information related to accounts receivable securitization program

		2014			2013
Balance (included in short-term loans)		$	122		$	276
Weighted average interest rate			1.41	%		1.41	%

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

		Principal Amount			Indicated Market Price			Fair Value
Senior Notes:
7.375%, due 2016		$	600		$	106.70		$	640
6.75%, due 2020 (€500 million)			608			118.85			723
4.875%, due 2021 (€330 million)			401			110.00			441
5.00%, due 2022			500			101.81			509
5.375%, due 2025			300			101.25			304
Senior Debentures:
7.80%, due 2018			250			112.31			281

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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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