Debt and Other Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Summary of Long-term Debt Obligations

The aggregate maturities applicable to the long-term debt outstanding at December 31, 2018:

	Aggregate Maturities
	(Millions)
2019	$	175
2020	$	114
2021	$	154
2022	$	692
2023	$	1,249

A summary of the Company's long-term debt obligations at December 31, 2018 and 2017, is set forth in the following table:

	2018						2017
	Principal		Carrying Amount(1)		Effective Interest Rate		Principal		Carrying Amount(1)		Effective Interest Rate
	(Millions)
Credit Facilities
Revolver Borrowings
Due 2023	$	—	$	—	—		$	244	$	244
Term Loans
LIBOR plus 1.75% Term Loan A due 2019 through 2023(2)	1,700		1,691		6.160	%	—		—		—
LIBOR plus 2.75% Term Loan B due 2019 through 2025(3)	1,700		1,629		8.880	%	—		—		—
Senior Tranche A Term Loan	—		—		—		390		388		2.900	%
Senior Unsecured Notes
$225 million of 5.375% Senior Notes due 2024(4)	225		222		5.609	%	225		222		5.609	%
$500 million of 5.000% Senior Notes due 2026(5)	500		493		5.219	%	500		492		5.219	%
Senior Secured Notes (9)
€415 million 4.875% Euro Fixed Rate Notes due 2022(6)	476		496		3.599	%	—		—		—
€300 million of Euribor plus 4.875% Euro Floating Rate Notes due 2024(7)	344		349		4.620	%	—		—		—
€350 million of 5.000% Euro Fixed Rate Notes due 2024(8)	401		427		3.823	%	—		—		—
Other Debt, primarily foreign instruments	108		106				17		15
			5,413						1,361
Less — maturities classified as current			73						3
Total long-term debt			$	5,340					$	1,358

(1)Carrying amount is net of unamortized debt issuance costs and debt discounts or premiums. Total unamortized debt issuance costs were $90 million and $13 million as of December 31, 2018 and 2017. Total unamortized debt (premium) discount, net was $(49) million and $2 million as of December 31, 2018 and 2017.

(2) Principal and interest payable in 19 consecutive quarterly installments beginning March 31, 2019, with $21 million being paid quarterly in the seven quarters, followed by $32 million paid in the subsequent four quarters followed by $43 million in the subsequent eight quarters and the remainder at maturity.

(3) Principal and interest payable in 27 consecutive quarterly installments beginning March 31, 2019 with $4 million paid quarterly and the remainder at maturity.

(4) Interest payable semiannually beginning on June 30, 2015 with principal due at maturity.

(5) Interest payable semiannually beginning on January 31, 2017 with principal due at maturity.

(6) Interest is payable quarterly on April 15 and October 15 of each year with principal due at maturity.

(7) Interest accrues at the three-month EURIBOR rate (with 0% floor) plus 4.875% per annum and payable quarterly on January 15, April 15, July 15 and October 15.

(8) Interest payable semiannually on January 15 and July 15 of each year beginning on July 17, 2017 with principal due at maturity.

(9) Rank equally in right of payment to all indebtedness under the New Credit Facility (as subsequently defined).

Interest expense associated with the amortization of the debt issuance costs and original issue discounts recognized in the Company's consolidated statements of income consists of the following:

	2018		2017		2016
	(Millions)
Amortization of debt issuance fees	$	8	$	4	$	4

Summary of Short-term Debt Obligations

Weighted average interest rate on outstanding short-term borrowings at end of year 4.4 % 2.9 %

(a) Includes borrowings under both committed credit facilities and uncommitted lines of credit and similar arrangements.

The Company's short-term debt as of December 31, 2018 and 2017 is as follows:

	At December 31
	2018		2017
	(Millions)
Maturities classified as current	$	73	$	3
Short-term borrowings(a)	66		80
Bank overdrafts	14		20
Total short-term debt	$	153	$	103

Financing Arrangements

Financing Arrangements

	Committed Credit Facilities(a) as of December 31, 2018
	Term	Commitments		Borrowings		Letters of Credit(b)		Available
	(Millions)
Tenneco Inc. revolving credit agreement	2023	$	1,500	$	—	$	24	$	1,476
Tenneco Inc. Term Loan A	2023	1,700		1,700		—		—
Tenneco Inc. Term Loan B	2025	1,700		1,700		—		—
Subsidiaries’ credit agreements	2018-2028	154		51		3		100
		$	5,054	$	3,451	$	27	$	1,576

(a) The Company generally is required to pay commitment fees on the unused portion of the total commitment.

(b) Letters of credit reduce the available borrowings under the revolving credit agreement.

Schedule of Gain (Loss) on Securitizations or Asset-backed Financing Arrangements of Financial Assets Accounted for as Sale [Table Text Block]

Proceeds from the factoring of accounts receivable qualifying as sales and drafting programs, and expenses associated with these arrangements for the years ended December 31, 2018, 2017, and 2016 are as follows:

	Year Ended December 31
	2018		2017		2016
	(Millions)
Proceeds from factoring qualifying as sales	$	3,390	$	1,984	$	1,770
Loss on sale of receivables	$	16	$	5	$	5

The amounts outstanding for these factoring and drafting arrangements as of December 31, 2018 and 2017 are as follows:

	As of December 31
	2018		2017
	(Millions)
Accounts receivable outstanding and derecognized	$	1,011	$	406
Deferred purchase price receivable	$	154	$	114

these securitization programs at December 31, 2018 and 2017 are as follows:

	As of December 31
	2018		2017
	(Millions)
Borrowings on securitization programs	$	6	$	30