XML 58 R43.htm IDEA: XBRL DOCUMENT v3.6.0.2
Financing Agreements (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Long-Term Debt [Table Text Block]
Long-term debt at December 31
 
 
 
 
2016
 
2015
 
 
Interest
Rate
 
Principal
 
Unamortized Debt Issue Costs
 
Principal
 
Unamortized Debt Issue Costs
 Senior Notes due February 15, 2021
 
6.750%
 
$

 
$

 
$
350

 
$
(4
)
 Senior Notes due September 15, 2021
 
5.375%
 
450

 
(5
)
 
450

 
(6
)
 Senior Notes due September 15, 2023
 
6.000%
 
300

 
(4
)
 
300

 
(5
)
 Senior Notes due December 15, 2024
 
5.500%
 
425

 
(6
)
 
425

 
(6
)
 Senior Notes due June 1, 2026
 
6.500%
*
375

 
(6
)
 


 

 Other indebtedness
 
 
 
120

 
 
 
66

 
 
 Total
 
 
 
$
1,670

 
$
(21
)
 
$
1,591

 
$
(21
)

*
In conjunction with the issuance of the June 2026 Notes we entered into two 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro denominated debt at a fixed rate of 5.140%. See Note 14 for additional information.
Scheduled Principal Payments on Long-Term Debt [Table Text Block]
Scheduled principal payments on long-term debt at December 31, 2016
 
2017
 
2018
 
2019
 
2020
 
2021
 
Thereafter
 
Total
Debt maturities
$
45

 
$
55

 
$
3

 
$

 
$
450

 
$
1,100

 
$
1,653

Debt Instrument Redemption [Table Text Block]
We may redeem some or all of the senior notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date, if redeemed during the 12-month period commencing on the anniversary date of the senior notes in the years set forth below:
 
 
Redemption Price
 
 
September
 
September
 
December
 
June
Year
 
2021 Notes
 
2023 Notes
 
2024 Notes
 
2026 Notes
2017
 
102.688
%
 
 
 
 
 
 
2018
 
101.344
%
 
103.000
%
 
 
 
 
2019
 
100.000
%
 
102.000
%
 
102.750
%
 
 
2020
 
100.000
%
 
101.000
%
 
101.833
%
 
 
2021
 
 
 
100.000
%
 
100.917
%
 
103.250
%
2022
 
 
 
100.000
%
 
100.000
%
 
102.167
%
2023
 
 
 
 
 
100.000
%
 
101.083
%
2024
 
 
 
 
 
 
 
100.000
%
2025
 
 
 
 
 
 
 
100.000
%
Schedule of Revolving Facility Arrangements [Table Text Block]
Advances under the Revolving Facility bear interest at a floating rate based on, at our option, the base rate or Eurodollar rate (each as described in the revolving credit agreement) plus a margin as set forth below:
 
 
Margin
Total Net Leverage Ratio
 
Base Rate
 
Eurodollar Rate
Less than or equal to 1.00:1.00
 
0.50
%
 
1.50
%
Greater than 1.00:1.00 but less than or equal to 2.00:1.00
 
0.75
%
 
1.75
%
Greater than 2.00:1.00
 
1.00
%
 
2.00
%


Commitment fees are applied based on the average daily unused portion of the available amounts under the Revolving Facility as set forth below:

Total Net Leverage Ratio
 
Commitment Fee
Less than or equal to 1.00:1.00
 
0.250
%
Greater than 1.00:1.00 but less than or equal to 2.00:1.00
 
0.375
%
Greater than 2.00:1.00
 
0.500
%