DEBT

Long-term debt (including finance lease obligations) as of March 31, 2019 and December 31, 2018 consisted of the following:



	March 31, 2019			December 31, 2018

Secured Receivables Credit Facility (3.39% at December 31, 2018)	$	—		$	160
2.70% Senior Notes due April 2019	300			300
4.75% Senior Notes due January 2020	506			507
2.50% Senior Notes due March 2020	300			300
4.70% Senior Notes due April 2021	556			557
4.25% Senior Notes due April 2024	301			299
3.50% Senior Notes due March 2025	570			562
3.45% Senior Notes due June 2026	475			469
4.20% Senior Notes due June 2029	499			—
6.95% Senior Notes due July 2037	175			175
5.75% Senior Notes due January 2040	244			244
4.70% Senior Notes due March 2045	300			300
Other	36			37
Debt issuance costs	(23		)	(17		)
Total long-term debt	4,239			3,893
Less: Current portion of long-term debt	1,108			464
Total long-term debt, net of current portion	$	3,131		$	3,429

2019 Senior Notes Offering

In March 2019, the Company completed a senior unsecured notes offering (the “2019 Senior Notes”), consisting of $500 million aggregate principal amount of 4.20% senior notes due June 2029, issued at a discount of $1 million. The 2019 Senior Notes are unsecured obligations of the Company that rank equally with the Company's other senior unsecured obligations. The 2019 Senior Notes do not have a sinking fund requirement. The Company incurred $5 million of debt issuance costs associated with the 2019 Senior Notes, which is included as a reduction to the carrying amount of long-term debt and is being amortized over the term of the related debt.

A portion of the net proceeds from the 2019 Senior Notes were used to repay outstanding indebtedness under the secured receivables credit facility and for general corporate purposes. Additionally, in April 2019, a portion of the proceeds were used to repay in full the outstanding indebtedness under the Company's Senior Notes due April 1, 2019.

Secured Receivables Credit Facility

During the three months ended March 31, 2019, there were $640 million in cumulative borrowings under the secured receivables credit facility primarily associated with working capital requirements as well as the funding of the Company's 2019 business acquisition. During the three months ended March 31, 2019, there were $800 million in repayments under the secured receivables credit facility.

Maturities of Long-Term Debt

As of March 31, 2019, long-term debt matures as follows:



Year Ending December 31,
Remainder of 2019	$	302
2020	803
2021	553
2022	3
2023	1
Thereafter	2,649

Total maturities of long-term debt	4,311
Unamortized discount	(9		)
Debt issuance costs	(23		)
Fair value basis adjustments attributable to hedged debt	(40		)

Total long-term debt	4,239
Current portion of long-term debt	1,108

Total long-term debt, net of current portion	$	3,131