Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Debt consists of the following:

	December 31,
	2012			2011
URNA and subsidiaries debt:
Accounts Receivable Securitization Facility (1)	$	453		$	255
$1.9 billion ABL Facility (1)	1,184			810
10 7/8 percent Senior Notes (2)	—			489
10 1/4 percent Senior Notes (3)	223			—
9 1/4 percent Senior Notes	494			493
8 3/8 percent Senior Subordinated Notes	750			750
8 1/4 percent Senior Notes (3)	695			—
6 1/8 percent Senior Notes	400			—
1 7/8 percent Convertible Senior Subordinated Notes (2)	—			22
Capital leases (3)	148			39
Merger financing notes (4):
5 3/4 percent Senior Secured Notes	750			—
7 3/8 percent Senior Notes	750			—
7 5/8 percent Senior Notes	1,325			—
Total URNA and subsidiaries debt	7,172			2,858
Holdings:
4 percent Convertible Senior Notes	137			129
Total debt (5)	7,309			2,987
Less short-term portion	(630		)	(395		)
Total long-term debt	$	6,679		$	2,592

(1) $654 and $22 were available under our ABL facility and accounts receivable securitization facility, respectively, at December 31, 2012. The ABL facility availability is reflected net of $62 of letters of credit. At December 31, 2012, the interest rates applicable to our ABL facility and accounts receivable securitization facility were 2.3 percent and 0.9 percent, respectively.

(2) During 2012, we redeemed our 10 ⁷/8 percent Senior Notes and all of our outstanding 1 ⁷/8 percent Convertible Senior Subordinated Notes were converted. Upon redemption/conversion, we recognized a loss of $72 in interest expense, net. The loss represents the difference between the net carrying amount and the total purchase/conversion price of these securities.

(3) Upon consummation of the RSC merger, we assumed certain of RSC's debt, including capital leases. See below for additional detail regarding the assumed RSC debt.

(4) In connection with the RSC merger, on March 9, 2012, we issued the merger financing notes. See below for additional detail regarding each of the merger financing notes.

(5) In August 1998, a subsidiary trust of Holdings (the “Trust”) issued and sold $300 of 6 ¹/2 percent Convertible Quarterly Income Preferred Securities (“QUIPS”) in a private offering. The Trust used the proceeds from the offering to purchase 6 ¹/2 percent subordinated convertible debentures due 2028 (the “Debentures”), which resulted in Holdings receiving all of the net proceeds of the offering. The QUIPS are non-voting securities, carry a liquidation value of $50 (fifty dollars) per security and are convertible into Holdings’ common stock. Total long-term debt at December 31, 2012 and 2011 excludes $55 of these Debentures, which are separately classified in our consolidated balance sheets and referred to as “subordinated convertible debentures.” The subordinated convertible debentures reflect the obligation to our subsidiary that has issued the QUIPS. This subsidiary is not consolidated in our financial statements because we are not the primary beneficiary of the Trust. See note 13 (“Subordinated Convertible Debentures”) for additional detail.

Schedule of Maturities of Long-term Debt

Maturities of the Company’s debt (exclusive of any unamortized original issue discount) for each of the next five years and thereafter at December 31, 2012 are as follows:

2013	$	493
2014	36
2015	197
2016	1,202
2017	11
Thereafter	5,339
Total	$	7,278