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Long-Term Debt and Credit Facilities (Tables)
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Including Unamortized Discounts and Premiums
The following chart reflects the consolidated long-term debt of Lumen Technologies, Inc. and its subsidiaries, including unamortized discounts and premiums, net and unamortized debt issuance costs, but excluding intercompany debt:

Interest Rates(1)
Maturities(1)
September 30, 2021December 31, 2020
   (Dollars in millions)
Senior Secured Debt: (2)
Lumen Technologies, Inc.
Revolving Credit Facility(7)
LIBOR + 2.00%
2025$— 150 
Term Loan A(3) (7)
LIBOR + 2.00%
20251,064 1,108 
Term Loan A-1(3) (7)
LIBOR + 2.00%
2025304 316 
Term Loan B(4) (7)
LIBOR + 2.25%
20274,913 4,950 
Senior notes4.000%20271,250 1,250 
Subsidiaries:
Level 3 Financing, Inc.
Tranche B 2027 Term Loan(5) (7)
LIBOR + 1.75%
20273,111 3,111 
Senior notes
3.400% - 3.875%
2027 - 2029
1,500 1,500 
Embarq Corporation subsidiaries
First mortgage bonds
7.125% - 8.375%
2023 - 2025
138 138 
Senior Notes and Other Debt:    
Lumen Technologies, Inc.
Senior notes
4.500% - 7.650%
2022 - 2042
8,414 8,645 
Subsidiaries:
Level 3 Financing, Inc.
Senior notes
3.625% - 5.375%
2025 - 2029
5,515 5,515 
Qwest Corporation
Senior notes
6.500% - 7.750%
2021 - 2057
2,935 3,170 
Term Loan(6) (7)
LIBOR + 2.00%
2027215 215 
Qwest Capital Funding, Inc.
Senior notes
6.875% - 7.750%
2028 - 2031
255 352 
Embarq Corporation and subsidiary
Senior note(8)
7.995%2036— 1,437 
Finance lease and other obligationsVariousVarious352 295 
Unamortized premiums (discounts), net  23 (78)
Unamortized debt issuance costs(228)(237)
Total long-term debt  29,761 31,837 
Less current maturities   (2,501)(2,427)
Long-term debt, excluding current maturities  $27,260 29,410 
______________________________________________________________________ 
(1)As of September 30, 2021.
(2)See Note 6—Long-Term Debt and Credit Facilities in our Annual Report on Form 10-K for the year ended December 31, 2020 for a description of certain parent or subsidiary guarantees and liens securing this debt.
(3)Term Loans A and A-1 had interest rates of 2.085% and 2.147% as of September 30, 2021 and December 31, 2020, respectively.
(4)Term Loan B had interest rates of 2.335% and 2.397% as of September 30, 2021 and December 31, 2020, respectively.
(5)The Tranche B 2027 Term Loan had interest rates of 1.835% and 1.897% as of September 30, 2021 and December 31, 2020, respectively.
(6)Qwest Corporation Term Loan had interest rates of 2.090% and 2.150% as of September 30, 2021 and December 31, 2020, respectively.
(7)See Note 1— Background for our considerations of the impact of Reference Rate Reform on our debt subject to rate reference changes from LIBOR.
(8)As of September 30, 2021, the Embarq Senior notes have been reclassified as held for sale. See Note 2—Planned Divestiture of the Latin American and ILEC Businesses for more information.
Schedule of Maturities of Long-term Debt
Set forth below is the aggregate principal amount of our long-term debt as of September 30, 2021 (excluding unamortized premiums (discounts), net, and unamortized debt issuance costs), maturing during the following years. As a result of reclassifying our disposal groups as being held for sale on our September 30, 2021 consolidated balance sheet, the amounts presented below do not include maturities of the debt obligations of those disposal groups. See Note 2—Planned Divestiture of the Latin American and ILEC Businesses for more information.

 
(Dollars in millions) (1)
2021 (remaining three months)$989 
20221,551 
2023977 
20241,158 
20252,927 
2026 and thereafter22,364 
Total long-term debt$29,966 
______________________________________________________________________ 
(1)As of September 30, 2021, these amounts exclude $1.5 billion of debt and finance lease obligations that have been reclassified as held for sale. See Note 2—Planned Divestiture of the Latin American and ILEC Businesses for more information.