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Basis Of Presentation Financial Instruments - Fair Value Indebtedness Table (Details) - USD ($)
$ in Millions
Mar. 31, 2017
Dec. 31, 2016
Jul. 20, 2016
Oct. 23, 2015
Long-Term Debt, Gross [1] $ 3,830      
Outstanding borrowings, securitization obligations 172 $ 205    
Secured Debt | Term Loan B        
Long-Term Debt, Gross 1,092 [2] 1,094 $ 1,100  
Long-term debt fair value [3] 1,097 1,100    
Secured Debt | Term Loan A        
Long-Term Debt, Gross 408 [4] 413   $ 435
Long-term debt fair value [3] 408 414    
Secured Debt | Term Loan A-1        
Long-Term Debt, Gross 348 [5] 351 [4] $ 355  
Long-term debt fair value [3] 349 351    
Senior Notes | 4.50% Senior Notes        
Long-Term Debt, Gross 450 450    
Long-term debt fair value [3] 463 461    
Senior Notes | 5.25% Senior Notes        
Long-Term Debt, Gross 550 550    
Long-term debt fair value [3] 571 562    
Senior Notes | 4.875% Senior Notes        
Long-Term Debt, Gross 500 500    
Long-term debt fair value [3] 490 483    
Line of Credit | Revolving Credit Facility        
Long-term Line of Credit 310 [6],[7] 200    
Line of credit facility fair value [3] 310 200    
Securitization obligations        
Outstanding borrowings, securitization obligations 172 205    
Securitization obligations fair value [3] $ 172 $ 205    
[1] Not included in this table, the Company had $126 million of outstanding letters of credit at March 31, 2017 under the Unsecured Letter of Credit Facility with a weighted average rate of 2.93%. At March 31, 2017, the capacity of the facility was $131 million.
[2] The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) JPMorgan Chase Bank, N.A.’s prime rate ("ABR") plus 1.25% (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 provides for quarterly amortization payments, which commenced 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 in 2016, 2017, 2018, 2019 and 2020, respectively. The interest rates with respect to term loans under the Term Loan A 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended March 31, 2017.
[5] The Term Loan A-1 provides for quarterly amortization payments, which commenced on September 30, 2016, totaling per annum 2.5%, 2.5%, 5%, 7.5% and 10.0% of the original principal amount of the Term Loan A-1, with the last amortization payment made on June 30, 2021. The interest rates with respect to term loans under the Term Loan A-1 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended March 31, 2017.
[6] As of March 31, 2017, the Company had $1,050 million of borrowing capacity under its Revolving Credit Facility, leaving $740 million of available capacity. The revolving credit facility expires in October 2020, but is classified on the balance sheet as current due to the revolving nature of the facility. The outstanding borrowings and capacity are the same as of May 3, 2017.
[7] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at March 31, 2017 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended March 31, 2017.