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Basis Of Presentation (Tables)

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair Value Hierarchy

The following table summarizes fair value measurements by level at June 30, 2017 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 current and non-current liabilities)	$	—			$	28			$	—			$	28
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)	—				—				44				44

The following table summarizes fair value measurements by level at December 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)	$	—			$	33			$	—			$	33
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)	—				—				50				50

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, 2016		$	50
Additions: contingent consideration related to acquisitions completed during the period		—
Reductions: payments of contingent consideration (reflected in the financing section of the Consolidated Statement of Cash Flows)		(4		)
Changes in fair value (reflected in the Consolidated Statement of Operations)		(2		)
Fair value of contingent consideration at June 30, 2017		$	44

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:

	June 30, 2017								December 31, 2016
Debt	Principal Amount				Estimated Fair Value (a)				Principal Amount				Estimated Fair Value (a)
Senior Secured Credit Facility:
Revolving Credit Facility	$	190			$	190			$	200			$	200
Term Loan B	1,089				1,094				1,094				1,100
Term Loan A Facility:
Term Loan A	402				403				413				414
Term Loan A-1	346				347				351				351
4.50% Senior Notes	450				464				450				461
5.25% Senior Notes	550				576				550				562
4.875% Senior Notes	500				503				500				483
Securitization obligations	223				223				205				205

_______________

(a) During the second quarter 2017, the Company reclassified its Indebtedness from Level 1 to Level 2 as transactions in these securities did not occur with sufficient frequency and volume to constitute an active market.

Schedule of Derivative Instruments

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		June 30, 2017				December 31, 2016
Interest rate swap contracts		Other current and non-current liabilities		$	28			$	33

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 Loss Recognized for Derivative Instruments		Loss Recognized on Derivatives
				Three Months Ended June 30,								Six Months Ended June 30,
				2017				2016				2017				2016
Interest rate swap contracts		Interest expense		$	5			$	14			$	4			$	45
Foreign exchange contracts		Operating expense		1				—				1				—

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