Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Components of Debt

The following table sets forth the components of the Company’s debt at June 30, 2022 and December 31, 2021.

	June 30, 2022			December 31, 2021
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	771		$	776
Tranche B-2 euro term loan due April 2025 (€335 at June 30, 2022 and €337 at December 31, 2021)		355			381
Senior unsecured notes:
4.000% due May 2026 (€450 at June 30, 2022 and December 31, 2021)		476			510
5.375% due May 2027		500			500
5.750% due November 2028		800			800
4.625% due November 2029		650			650
Finance lease liabilities		66			72
Financing obligation (1)		92			93
Total debt principal		3,710			3,782
Less: Unamortized issue discounts		(5	)		(5	)
Less: Unamortized debt issuance costs		(25	)		(28	)
Less: Short-term and current maturities of long-term debt		(24	)		(25	)
Total long-term debt, net	$	3,656		$	3,724

(1) At June 30, 2022 and December 31, 2021, financing obligation includes $92 and $93, respectively, in connection with the financed portion of the Company’s research and development facility located in the Science, Technology, and Advanced Research Campus of the University of Delaware in Newark, Delaware (“Chemours Discovery Hub”).

Schedule of Debt Principal Maturities

The following table sets forth the Company’s debt principal maturities for the next five years and thereafter.

Remainder of 2022	$	6
2023		13
2024		13
2025		1,094
2026		476
Thereafter		1,950
Total principal maturities on debt	$	3,552

Estimated Fair Values of Senior Debt Issues

The following table sets forth the estimated fair values of the Company’s senior debt issues, which are based on quotes received from third-party brokers, and are classified as Level 2 financial instruments in the fair value hierarchy.

	June 30, 2022					December 31, 2021
	Carrying Value			Fair Value		Carrying Value			Fair Value
Senior secured term loans:
Tranche B-2 U.S. dollar term loan due April 2025	$	771		$	730	$	776		$	769
Tranche B-2 euro term loan due April 2025 (€335 at June 30, 2022 and €337 at December 31, 2021)		355			333		381			378
Senior unsecured notes:
4.000% due May 2026 (€450 at June 30, 2022 and December 31, 2021)		476			424		510			518
5.375% due May 2027		500			457		500			538
5.750% due November 2028		800			683		800			846
4.625% due November 2029		650			516		650			645
Total senior debt principal		3,552		$	3,143		3,617		$	3,694
Less: Unamortized issue discounts		(5	)				(5	)
Less: Unamortized debt issuance costs		(25	)				(28	)
Total senior debt, net	$	3,522				$	3,584