XML 45 R31.htm IDEA: XBRL DOCUMENT v3.22.1
Long-Term Debt and Credit Facilities (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Including Unamortized Discounts and Premiums
The following table reflects the consolidated long-term debt of Lumen Technologies, Inc. and its subsidiaries as of the dates indicated below, including unamortized discounts and premiums unamortized debt issuance costs:

Interest Rates(1)
Maturities(1)
March 31, 2022December 31, 2021
   (Dollars in millions)
Senior Secured Debt: (2)
Lumen Technologies, Inc.
Revolving Credit Facility(3)
LIBOR + 2.00%
2025$1,200 200 
Term Loan A(4)
LIBOR + 2.00%
20251,035 1,050 
Term Loan A-1(4)
LIBOR + 2.00%
2025296 300 
Term Loan B(5)
LIBOR + 2.25%
20274,888 4,900 
Senior notes4.000%20271,250 1,250 
Subsidiaries:
Level 3 Financing, Inc.
Tranche B 2027 Term Loan(6)
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:(7)
    
Lumen Technologies, Inc.
Senior notes
4.500% - 7.650%
2023 - 2042
7,014 8,414 
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%
2025 - 2057
1,986 1,986 
Term loan(8)
LIBOR + 2.00%
2027215 215 
Qwest Capital Funding, Inc.
Senior notes
6.875% - 7.750%
2028 - 2031
255 255 
Finance lease and other obligationsVariousVarious343 347 
Unamortized premiums, net  20 21 
Unamortized debt issuance costs(213)(220)
Total long-term debt  28,553 28,982 
Less current maturities   (156)(1,554)
Long-term debt, excluding current maturities  $28,397 27,428 
______________________________________________________________________ 
(1)As of March 31, 2022.
(2)See Note 7—Long-Term Debt and Credit Facilities in our Annual Report on Form 10-K for the year ended December 31, 2021 for a description of certain parent or subsidiary guarantees and liens securing this debt.
(3)The Revolving Credit Facility had interest rates of 2.387% and 2.103% as of March 31, 2022 and December 31, 2021, respectively.
(4)Term Loans A and A-1 had interest rates of 2.457% and 2.104% as of March 31, 2022 and December 31, 2021, respectively.
(5)Term Loan B had interest rates of 2.707% and 2.354% as of March 31, 2022 and December 31, 2021, respectively.
(6)The Level 3 Tranche B 2027 Term Loan had interest rates of 2.207% and 1.854% as of March 31, 2022 and December 31, 2021, respectively.
(7)As of both March 31, 2022 and December 31, 2021, the table excludes $1.4 billion of 7.995% Embarq senior notes maturing in 2036 that are classified as held for sale. See Note 2—Planned Divestiture of the Latin American and ILEC Businesses.
(8)The Qwest Corporation Term Loan had interest rates of 2.460% and 2.110% as of March 31, 2022 and December 31, 2021, respectively.
Schedule of Maturities of Long-term Debt
Set forth below is the aggregate principal amount of our long-term debt as of March 31, 2022 (excluding unamortized premiums, net, and unamortized debt issuance costs), maturing during the following years:

 
(Dollars in millions)(1)
2022 (remaining nine months)$150 
2023977 
20241,158 
20254,108 
20262,062 
2027 and thereafter20,291 
Total long-term debt$28,746 
______________________________________________________________________ 
(1)As of March 31, 2022, 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.