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Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt

Long-term Debt

		2017			2016
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans		$	—		$	—
Term Loans:
Term Loan A			1,148			1,395
Term Loan A (€279 million at December 31, 2016)						282
Senior Notes:
6.75%, due 2020 (€500 million)			594			523
4.875%, due 2021 (€330 million)			392			345
5.00%, due 2022			496			495
4.00%, due 2023			305
5.875%, due 2023			685			682
3.125%, due 2024 (€725 million at December 31, 2017 and €500 million at December 31, 2016)			849			520
5.375%, due 2025			297			297
6.375%, due 2025			295			294
Senior Debentures:
7.80%, due 2018						250
Capital leases			54			57
Other			17			26
Total long-term debt			5,132			5,166
Less amounts due within one year			11			33
Long-term debt		$	5,121		$	5,133

Information related to accounts receivable securitization program

		2017			2016
Balance (included in short-term loans)		$	133		$	152
Weighted average interest rate			0.76	%		0.74	%

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

		Principal Amount			Indicated Market Price			Fair Value
Senior Notes:
6.75%, due 2020 (€500 million)		$	597		$	116.99		$	699
4.875%, due 2021 (€330 million)			394			113.43			447
5.00%, due 2022			500			104.24			521
5.875%, due 2023			700			108.15			757
4.00%, due 2023			310			100.21			311
3.125%, due 2024 (€725 million)			866			105.34			912
6.375%, due 2025			300			112.62			338
5.375%, due 2025			300			105.31			316

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