Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt

A summary of our long-term debt obligations at June 30, 2018 and December 31, 2017 is set forth in the following table:

	June 30, 2018				December 31, 2017
	Principal		Carrying Amount (1)		Principal		Carrying Amount (1)
	(Millions)
Tenneco Inc. —
Revolver borrowings due 2022	$	278	$	278	$	244	$	244
Senior Tranche A Term Loan due 2022	380		378		390		388
5 3/8% Senior Notes due 2024	225		222		225		222
5% Senior Notes due 2026	500		493		500		492
Other subsidiaries —
Other long-term debt due in 2020	6		6		5		5
Notes due 2018 through 2028	10		8		12		10
	1,399		1,385		1,376		1,361
Less — maturities classified as current	4		4		3		3
Total long-term debt	$	1,395	$	1,381	$	1,373	$	1,358

⁽¹⁾ Carrying amount is net of unamortized debt issuance costs and debt discounts. Total unamortized debt issuance costs were $12 million and $13 million as of June 30, 2018 and December 31, 2017, respectively, and the total unamortized debt discount was $2 million as of both June 30, 2018 and December 31, 2017.

Schedule of Short-term Debt

Information regarding our short-term debt as of June 30, 2018 and December 31, 2017 is as follows:

	June 30, 2018		December 31, 2017
	(Millions)
Maturities classified as current	$	4	$	3
Short-term borrowings	74		80
Total short-term debt	$	78	$	83

Financial Ratios under Senior Credit Facility

The financial ratios required under the senior credit facility, and the actual ratios we achieved for the first two quarters of 2018, are as follows:

	Quarter Ended
	June 30, 2018		March 31, 2018
	Required	Actual	Required	Actual
Leverage Ratio (maximum)	3.50	1.79	3.50	2.09
Interest Coverage Ratio (minimum)	2.75	10.84	2.75	9.87