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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2022
Long-Term Debt, Unclassified [Abstract]  
Schedule of Long-Term Debt
Long-term debt is summarized as follows:
December 31,
(In millions)20222021
Subordinated notes$519 $590 
Senior notes128 418 
Finance lease obligations
Total$651 $1,012 
Schedule of Subordinated Notes
The following schedule presents our subordinated notes outstanding at December 31, 2022:
(Dollar amounts in millions)Subordinated notes
Coupon rateBalancePar amountMaturity
6.95%$88 $88 September 2028
3.25%431 500 October 2029
Total$519 $588 
Schedule of Senior Notes
The following schedule presents our senior notes outstanding at December 31, 2022:
(Dollar amounts in millions)Senior notes
Coupon rateBalancePar amountMaturity
4.50%$128 $128 June 2023
Schedule of Maturities of Long-term Debt
The following schedule presents our long-term debt by maturity for each of the next five years:
(In millions)
Amount 1
2023$128 
2024— 
2025— 
2026— 
2027— 
Thereafter587 
Total$715 
1 Does not include basis adjustments related to terminated or active fair value hedges.