S-I/A Table of Content" Cash flows from financing activities Year ended December 31. Source/(use) (In millions) 2014 2013 2012 Short-term borrowings, net $ 12 $ (109) $ 99 Prorsends from issuance of long-term debt 1.830 4,472 3,724 Debt modification (payments) proceeds and related financing costs (355) (III) (97) Principal payments on long-term debt (3.751) (4.506) (3,730) Proceeds from sale-leaseback transactions — — 14 Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest (266) (224) (262) Purchase of noncontrolling interest (I) (24) (25) Capital transactions with parent. net 1.788 (30) (8) Net cash used in financing activities $ (743) $ (532) $ (285) Short-term borrowings, net. For all three years, the cast activity resulted from net borrowings and paydowns on our international credit Ibt used principally to prefund settlement activity. As of December 31, 2014, our senior secured revolving credit facility, which has subsequently been terminated and replaced. had commitments from financial institutions to provide $1.0 billion of credit. Besides the letters of credit discussed below, we had $10 million outstanding as of December 31, 2014 and no amount outstanding as of December 31, 2013. As of December 31, 2014, $964 million remained available under this facility. Excluding the letters of credit, the maximum amount outstanding against this facility during 2014 was approximately $474 million while the average amount outstanding during 2014 was approximately $107 million. Debt modification (payments) proceeds and related financing costs. In conjunction with issuing debt in November 2013. we received $55 million in cash related to accrued interest on the notes which were issued mid-coupon period, which was paid in the first quarter of 2014. Additionally, our debt extinguishment% completed in 2013 and fully settled in the first quarter of 2014 resulted in a net effect o