LONG-TERM DEBT

This note provides details about:


•	term loans issued and extinguished and


•	long-term debt and long-term debt maturities.

Our long-term debt includes notes, debentures and other borrowings.

TERM LOANS ISSUED AND EXTINGUISHED

During February 2018, we paid our $62 million 7.00 percent debenture at maturity.

During July 2017, we prepaid a $550 million variable-rate term loan originally set to mature in 2020 (2020 term loan). The 2020 term loan was prepaid using available cash of $325 million as well as borrowing proceeds from a new $225 million variable-rate term loan set to mature in 2026 (2026 term loan). The 2020 term loan was eligible to receive patronage refunds while outstanding. Similarly, we receive patronage refunds on the 2026 term loan, which will continue while the loan remains outstanding.

LONG-TERM DEBT AND LONG-TERM DEBT MATURITIES

The following table lists our long-term debt by types and interest rates at the end of our last two years and includes the current portion.

Long-Term Debt by Types and Interest Rates (Includes Current Portion)



DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2018			DECEMBER 31, 2017
7.00% debentures due 2018	—			62
7.375% notes due 2019	500			500
9.00% debentures due 2021	150			150
4.70% debentures due 2021	588			597
7.125% debentures due 2023	191			191
5.207% debentures due 2023	881			885
4.625% notes due 2023	500			500
3.25% debentures due 2023	324			324
8.50% debentures due 2025	300			300
7.95% debentures due 2025	136			136
7.70% debentures due 2026	150			150
7.35% debentures due 2026	62			62
7.85% debentures due 2026	100			100
Variable rate term loan credit facility matures 2026	225			225
6.95% debentures due 2027	300			300
7.375% debentures due 2032	1,250			1,250
6.875% debentures due 2033	275			275
Other	1			1
	5,933			6,008
Less unamortized discounts	(5		)	(5		)
Less unamortized debt expense	(9		)	(11		)
Total	$	5,919		$	5,992
Portion due within one year	$	500		$	62

Amounts of Long-Term Debt Due Annually for the Next Five Years and the Total Amount Due After 2023



DOLLAR AMOUNTS IN MILLIONS ⁽¹⁾
2019	$	500
2020	—
2021	719
2022	—
2023	1,876
Thereafter	2,798
(1) Excludes $26 million of unamortized discounts, capitalized debt expense and fair value adjustments (related to Plum Creek merger).