In March 2022, we completed a series of transactions that lowered our weighted average interest rate and extended our weighted average maturity by issuing $900 million in notes and using the net proceeds plus cash on hand to close cash tender offers for $931 million of principal in higher interest rate notes. We issued $450 million of 3.375 percent notes due in March 2033 and $450 million of 4.00 percent notes due in March 2052. The net proceeds after deducting the discount, underwriting fees and issuance costs were $444 million and $437 million, respectively. The net proceeds were used to retire $592 million of our 7.375 percent notes due in March 2032, $161 million of our 8.50 percent notes due in January 2025, $73 million of our 7.125 percent notes due in July 2023, $65 million of our 7.95 percent notes due in March 2025, and $40 million of our 7.85 percent notes due in July 2026. We paid holders an aggregate $1.2 billion in cash reflecting principal, premium to par and tender premium. A net pretax charge of $276 million ($207 million after-tax) was included in our Consolidated Statement of Operations in first quarter 2022 for premiums to retire $931 million of principal plus unamortized debt issuance costs and unamortized debt discounts in connection with the early debt retirement.

In May 2021, we repaid our $225 million variable-rate term loan that was scheduled to mature in July 2026.

In December 2020, we redeemed our $500 million 4.625 percent notes due in September 2023, and in September 2020, we redeemed our $325 million 3.25 percent notes due in March 2023. Pretax charges of $58 million and $23 million were included in our Consolidated Statement of Operations in fourth quarter and third quarter 2020, respectively, for the make-whole premiums, unamortized debt issuance costs and unamortized debt discounts in connection with these early extinguishments.

In March 2020, we issued $750 million of 4.00 percent notes due in April 2030. The net proceeds after deducting the discount, underwriting fees and issuance costs were $732 million. In May 2020, a portion of the net proceeds was used to redeem our $569 million 4.70 percent notes due in March 2021. A net pretax charge of $11 million was included in our Consolidated Statement of Operations in second quarter 2020 for the make-whole premium in connection with the early extinguishment, partially offset by the write-off of an unamortized fair value step-up adjustment.

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, 2022			DECEMBER 31, 2021
7.125% debentures due 2023	$	118		$	191
5.207% installment note due 2023		860			860
8.50% debentures due 2025		139			300
7.95% debentures due 2025		71			136
7.70% debentures due 2026		150			150
7.35% debentures due 2026		62			62
7.85% debentures due 2026		60			100
6.95% debentures due 2027		300			300
4.00% notes due 2029		750			750
4.00% notes due 2030		750			750
7.375% debentures due 2032		657			1,250
6.875% debentures due 2033		275			275
3.375% debentures due 2033		450			—
4.00% debentures due 2052		450			—
Other		1			1
Total principal long-term debt		5,093			5,125
Add: business combination fair value adjustment		4			8
Less: unamortized discounts		(37	)		(26	)
Less: unamortized debt expense		(7	)		(8	)
Total	$	5,053		$	5,099
Principal due within one year	$	978		$	—