Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt and Borrowing Arrangements (Tables)

v3.19.1
Long-Term Debt and Borrowing Arrangements (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Company's Indebtedness
The Company’s indebtedness consisted of:
 
March 31, 2019
 
December 31, 2018
Long-term debt: (a)
 
 
 
$750 million revolving credit facility (due May 2023)
$
—

 
$
—

Term loan (due May 2025)
1,578

 
1,582

5.375% senior unsecured notes (due April 2026)
494

 
494

Finance leases
64

 
65

Total long-term debt
2,136

 
2,141

Less: Current portion of long-term debt
21

 
21

Long-term debt
$
2,115

 
$
2,120

 
(a)
The carrying amount of the term loan and senior unsecured notes are net of deferred debt issuance costs of $20 million and $21 million
as of March 31, 2019 and December 31, 2018, respectively.
Schedule of Outstanding Debt Maturities
The Company’s outstanding debt as of March 31, 2019 matures as follows:
 
Long-Term Debt
Within 1 year
$
21

Between 1 and 2 years
21

Between 2 and 3 years
21

Between 3 and 4 years
21

Between 4 and 5 years
22

Thereafter
2,030

Total
$
2,136

Schedule of Available Capacity Under Borrowing Arrangements
As of March 31, 2019, the available capacity under the Company’s revolving credit facility was as follows:
 
Revolving Credit Facility
Total capacity
$
750

Less: Letters of credit
15

Available capacity
$
735