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Basis Of Presentation (Tables)

3 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair Value Hierarchy

The following table summarizes fair value measurements by level at March 31, 2016 for assets and liabilities measured at fair value on a recurring basis:

	Level I				Level II				Level III				Total
Interest rate swaps (included in other non-current liabilities)	$	—			$	73			$	—			$	73
Deferred compensation plan assets (included in other non-current assets)	3				—				—				3
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and non-current liabilities)	—				—				56				56

The following table summarizes fair value measurements by level at December 31, 2015 for assets and liabilities measured at fair value on a recurring basis:

	Level I				Level II				Level III				Total
Interest rate swaps (included in other non-current liabilities)	$	—			$	47			$	—			$	47
Deferred compensation plan assets (included in other non-current assets)	3				—				—				3
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and non-current liabilities)	—				—				59				59

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents changes in Level III financial liabilities measured at fair value on a recurring basis:

		Level III
Fair value of contingent consideration at December 31, 2015		$	59
Additions: contingent consideration related to acquisitions during the period		—
Reductions: payments of contingent consideration (reflected in the financing section of the Statement of Cash Flows)		(3		)
Changes in fair value (reflected in the Statement of Operations)		—
Fair value of contingent consideration at March 31, 2016		$	56

Fair Value, by Balance Sheet Grouping

The following table summarizes the principal amount of the Company’s indebtedness compared to the estimated fair value, primarily determined by quoted market values, at:

	March 31, 2016								December 31, 2015
Debt	Principal Amount				Estimated Fair Value (a)				Principal Amount				Estimated Fair Value (a)
Senior Secured Credit Facility:
Revolving Credit Facility	$	—			$	—			$	200			$	200
Term Loan B Facility	1,863				1,863				1,867				1,849
Term Loan A Facility	430				413				435				426
3.375% Senior Notes	500				500				500				500
4.50% Senior Notes	450				464				450				464
5.25% Senior Notes	550				567				300				308
Securitization obligations	220				220				247				247

_______________

(a) The fair value of the Company's indebtedness is categorized as Level I.

Schedule of Derivative Instruments

the term loan facilities as follows:

Notional Value (in millions)	Commencement Date	Expiration Date
$225	July 2012	February 2018
$200	January 2013	February 2018
$600	August 2015	August 2020
$450	November 2017	November 2022

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments was as follows:

Liability Derivatives				Fair Value
Not Designated as Hedging Instruments		Balance Sheet Location		March 31, 2016				December 31, 2015
Interest rate swap contracts		Other non-current liabilities		$	73			$	47

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The effect of derivative instruments on earnings was as follows:

Derivative Instruments Not Designated as Hedging Instruments		Location of (Gain) or Loss Recognized for Derivative Instruments		(Gain) or Loss Recognized on Derivatives
				Three Months Ended March 31,
				2016				2015
Interest rate swap contracts		Interest expense		$	31			$	14
Foreign exchange contracts		Operating expense		—				(1		)

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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