Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of debt instrument

Debt consists of the following:

	December 31,
	2014			2013
URNA and subsidiaries debt:
Accounts Receivable Securitization Facility (1)	$	548		$	430
$2.3 billion ABL Facility (1)	1,304			1,106
5 3/4 percent Senior Secured Notes (2)	750			750
10 1/4 percent Senior Notes (3) (4)	—			220
9 1/4 percent Senior Notes (4)	—			494
7 3/8 percent Senior Notes (2)	750			750
8 3/8 percent Senior Subordinated Notes	750			750
8 1/4 percent Senior Notes (3)	687			692
7 5/8 percent Senior Notes (2)	1,325			1,325
6 1/8 percent Senior Notes (5)	951			400
5 3/4 percent Senior Notes (5)	850			—
Capital leases (3)	105			120
Total URNA and subsidiaries debt	8,020			7,037
Holdings:
4 percent Convertible Senior Notes	32			136
Total debt	8,052			7,173
Less short-term portion	(618		)	(604		)
Total long-term debt	$	7,434		$	6,569

(1) $946 and $2 were available under our ABL facility and accounts receivable securitization facility, respectively, at December 31, 2014. The ABL facility availability is reflected net of $50 of letters of credit. At December 31, 2014, the interest rates applicable to our ABL facility and accounts receivable securitization facility were 2.2 percent and 0.8 percent, respectively.

(2) 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.

(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) During 2014, we redeemed all of our 10 ¹/₄ percent Senior Notes and 9 ¹/₄ percent Senior Notes. The 10 ¹/₄ percent Senior Notes were part of the debt assumed upon consummation of the RSC merger. Upon redemption, we recognized an aggregate loss of $70 in interest expense, net. The loss represented the difference between the net carrying amount and the total purchase price of the notes.

(5) Contemporaneous with the National Pump acquisition discussed in note 3 to our consolidated financial statements, in 2014, URNA issued $525 principal amount of 6 ¹/₈ percent Senior Notes as an add on to our existing 6 ¹/₈ percent Senior Notes and $850 principal amount of 5 ³/₄ percent Senior Notes. See below for additional detail.

Schedule of the maturities of debt

Maturities of the Company’s debt (exclusive of any unamortized original issue discounts or premiums) for each of the next five years and thereafter at December 31, 2014 are as follows:

2015	$	620
2016	1,333
2017	19
2018	760
2019	4
Thereafter	5,256
Total	$	7,992