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Fair Value Indebtedness Table (Details) - USD ($)
$ in Millions
Dec. 31, 2015
Oct. 23, 2015
[4]
Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross [1] $ 3,999    
Securitization obligations 247   $ 269
Secured Debt [Member] | Term Loan B Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 1,867 [2]   1,887
Fair value of long-term debt [3] 1,849   1,834
Secured Debt [Member] | Term Loan A Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 435 [4] $ 435 0
Fair value of long-term debt [3] 426   0
Secured Debt [Member] | 7.625% First Lien Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 0   593
Fair value of long-term debt [3] 0   633
Secured Debt [Member] | 9.00% First and a Half Lien Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 0   196
Fair value of long-term debt [3] 0   215
Senior Notes [Member] | 3.375% Senior Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 500   500
Fair value of long-term debt [3] 500   500
Senior Notes [Member] | 4.50% Senior Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 450   450
Fair value of long-term debt [3] 464   449
Senior Notes [Member] | 5.25% Senior Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt, gross 300   300
Fair value of long-term debt [3] 308   291
Line of Credit [Member] | Revolving Credit Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Line of credit facility outstanding amount 200 [5],[6]   0
Line of credit facility fair value [3] 200   0
Securitization obligations      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Securitization obligations 247   269
Fair value of securitization obligations [3] $ 247   $ 269
[1] Not included in this table, the Company had $134 million of outstanding letters of credit at December 31, 2015, of which $53 million was under the synthetic letter of credit facility with a rate of 4.25% and $81 million was under the unsecured letter of credit facility with a rate of 2.98%.
[2] The Term Loan B Facility provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to the Term Loan B Facility is based on, at the Company’s option, (a) adjusted LIBOR plus 3.00% (with a LIBOR floor of 0.75%) or (b) JPMorgan Chase Bank, N.A.’s prime rate ("ABR") plus 2.00% (with an ABR floor of 1.75%).
[3] The fair value of the Company's indebtedness is categorized as Level I.
[4] The Term Loan A Facility provides for quarterly amortization payments, commencing March 31, 2016, totaling per annum 5%, 5%, 7.5%, 10.0% and 12.5% of the original principal amount of the Term Loan A Facility in 2016, 2017, 2018, 2019 and 2020, respectively. The interest rates with respect to term loans under the new Term Loan A Facility are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the September 30, 2015 senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00%.
[5] As of December 31, 2015, the Company had $815 million of borrowing capacity under its Revolving Credit Facility leaving $615 million of available capacity. On February 19, 2016, the Company had $200 million outstanding borrowings on the Revolving Credit Facility and no outstanding letters of credit on such facility, leaving $615 million of available capacity.
[6] Interest rates with respect to revolving loans under the Term Loan A Facility at December 31, 2015 were based on, at the Company’s option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the September 30, 2015 senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00%.