XML 98 R62.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8. Short And Long-Term Debt Senior Secured Credit Facility (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Feb. 28, 2018
Jan. 31, 2017
Dec. 31, 2016
Jul. 20, 2016
Oct. 23, 2015
Mar. 05, 2013
Debt Instrument [Line Items]              
Long-term Debt, Gross [1] $ 3,580            
Letter of Credit, borrowing capacity $ 125            
Additional Credit Facilities             $ 500
Maximum | Required Covenant Ratio to Receive Additional Credit Facilities              
Debt Instrument [Line Items]              
Senior secured leverage ratio 3.50            
Ratio of Indebtedness to Net Capital Denominator 1.00            
Maximum | Required Covenant Ratio              
Debt Instrument [Line Items]              
Senior secured leverage ratio 4.75            
Ratio of Indebtedness to Net Capital Denominator 1.00            
LIBOR              
Debt Instrument [Line Items]              
Description of variable interest rate basis LIBOR            
ABR              
Debt Instrument [Line Items]              
Description of variable interest rate basis ABR            
Term Loan B | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.25%            
Debt Instrument, basis spread on variable rate, floor 0.75%            
Term Loan B | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.25%            
Debt Instrument, basis spread on variable rate, floor 1.75%            
Line of Credit | Revolving Credit Facility              
Debt Instrument [Line Items]              
Line of credit facility borrowing capacity $ 1,050   $ 1,050     $ 815  
Line of Credit | Revolving Credit Facility | Greater than 3.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.50%            
Line of Credit | Revolving Credit Facility | Greater than 3.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.50%            
Line of Credit | Revolving Credit Facility | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.25%            
Line of Credit | Revolving Credit Facility | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.25%            
Line of Credit | Revolving Credit Facility | Less than 2.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.00%            
Line of Credit | Revolving Credit Facility | Less than 2.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.00%            
Secured Debt | Term Loan B              
Debt Instrument [Line Items]              
Debt Instrument, Repurchase Amount         $ 1,858    
Long-term Debt, Gross $ 1,083 [2]     $ 1,094 $ 1,100    
Annual percentage of original principal amount for quarterly amortization payments 1.00%            
Secured Debt | Term Loan A              
Debt Instrument [Line Items]              
Long-term Debt, Gross $ 391 [3]     $ 413   435  
Additional Credit Facilities           $ 500  
Secured Debt | Term Loan A | Greater than 3.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.50%            
Secured Debt | Term Loan A | Greater than 3.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.50%            
Secured Debt | Term Loan A | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.25%            
Secured Debt | Term Loan A | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.25%            
Secured Debt | Term Loan A | Less than 2.50 to 1.00 | LIBOR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 2.00%            
Secured Debt | Term Loan A | Less than 2.50 to 1.00 | ABR              
Debt Instrument [Line Items]              
Debt Instrument, basis spread on variable rate 1.00%            
Subsequent Event | Line of Credit | Revolving Credit Facility              
Debt Instrument [Line Items]              
Line of credit facility borrowing capacity   $ 1,400          
Subsequent Event | Secured Debt | Term Loan B              
Debt Instrument [Line Items]              
Debt Instrument, Repurchase Amount   1,083          
Long-term Debt, Gross [2]   1,080          
Subsequent Event | Secured Debt | Term Loan A              
Debt Instrument [Line Items]              
Long-term Debt, Gross [2]   $ 750          
[1] Not included in this table is the Company's Unsecured Letter of Credit Facility which had a capacity of $74 million with $69 million utilized at a weighted average rate of 3.24% at December 31, 2017.
[2] The Term Loan B provided 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 was 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%). See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.
[3] The Term Loan A provided 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 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended December 31, 2017. See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.