Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt and Borrowing Arrangements (Tables)

v3.10.0.1
Long-Term Debt and Borrowing Arrangements (Tables)
 6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Company's Indebtedness
The Company’s indebtedness consisted of:
 
June 30,
2018
 
December 31, 2017
Long-term debt: *
 
 
 
$750 million revolving credit facility (due May 2023)
$
—

 
$
—

Term loan (due May 2025)
1,585

 
—

5.375% senior unsecured notes (due April 2026)
493

 
—

Capital leases
67

 
—

Debt due to former Parent
—

 
184

Total long-term debt
2,145

 
184

Less: Current portion of long-term debt
16

 
103

Long-term debt
$
2,129

 
$
81

 
* The carrying amount of the term loan and senior unsecured notes are net of debt issuance costs of $22 million as of June 30, 2018.
Schedule of Outstanding Debt Maturities
The Company’s outstanding debt as of June 30, 2018 matures as follows:
 
Long-Term Debt
Within 1 year
$
16

Between 1 and 2 years
21

Between 2 and 3 years
21

Between 3 and 4 years
21

Between 4 and 5 years
21

Thereafter
2,045

Total
$
2,145

Schedule of Available Capacity Under Borrowing Arrangements
As of June 30, 2018, the available capacity under the Company’s revolving credit facility was as follows:
 
Revolving Credit Facility
Total capacity
$
750

Less: Letters of credit
14

Available capacity
$
736