Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2017

Long-Term Debt [Abstract]

Long-Term Debt

			Three months ended March 31, 2017
($ in millions)	January 1, 2017		Payments and Retirements		New Borrowings		March 31, 2017		Interest Rate at March 31, 2017*
Senior and Subsidiary Unsecured Debt	$	15,900	$	-	$	-	$	15,900	9.18%
Senior Secured Debt		2,151		(37)		-		2,114	4.49%
Secured Subsidiary Debt		100		-		-		100	8.50%
Other Secured Debt		19		(1)		-		18	4.73%
Rural Utilities Service Loan Contracts		8		-		-		8	6.15%
Total Long-Term Debt	$	18,178	$	(38)	$	-	$	18,140	8.62%
Less: Debt Issuance Costs		(209)						(206)
Less: Debt Premium/(Discount)		(46)						(45)
Less: Current Portion		(363)						(363)
	$	17,560					$	17,526

*  Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at March 31, 2017 represent a weighted average of multiple issuances.

Senior Unsecured Debt

	March 31, 2017			December 31, 2016
	Principal		Interest	Principal		Interest
($ in millions)	Outstanding		Rate	Outstanding		Rate
Senior Unsecured Debt Due:
4/15/2017	$	210	8.250%	$	210	8.250%
10/1/2018		583	8.125%		583	8.125%
3/15/2019		434	7.125%		434	7.125%
4/15/2020		1,169	8.500%		1,169	8.500%
9/15/2020		1,066	8.875%		1,066	8.875%
7/1/2021		500	9.250%		500	9.250%
9/15/2021		775	6.250%		775	6.250%
4/15/2022		500	8.750%		500	8.750%
9/15/2022		2,188	10.500%		2,188	10.500%
1/15/2023		850	7.125%		850	7.125%
4/15/2024		750	7.625%		750	7.625%
1/15/2025		775	6.875%		775	6.875%
9/15/2025		3,600	11.000%		3,600	11.000%
11/1/2025		138	7.000%		138	7.000%
8/15/2026		2	6.800%		2	6.800%
1/15/2027		346	7.875%		346	7.875%
8/15/2031		945	9.000%		945	9.000%
10/1/2034		1	7.680%		1	7.680%
7/1/2035		125	7.450%		125	7.450%
10/1/2046		193	7.050%		193	7.050%
		15,150			15,150
Senior Secured Debt Due:
10/24/2019 (1)		271	4.865% (Variable)		280	4.145% (Variable)
3/31/2021 (2)		1,544	4.865% (Variable)		1,564	3.270% (Variable)
10/12/2021 (3)		299	3.740% (Variable)		307	4.145% (Variable)
		2,114			2,151
Subsidiary Debt Due:
05/15/2027		200	6.750%		200	6.750%
02/01/2028		300	6.860%		300	6.860%
2/15/2028		200	6.730%		200	6.730%
10/15/2029		50	8.400%		50	8.400%
11/15/2031		100	8.500%		100	8.500%
		850			850
Total	$	18,114	8.4% (4)	$	18,151	8.3% (4)

(1)Represents borrowings under the 2014 CoBank Credit Agreement, as defined below.

(2)Represents borrowings under the JPM Credit Agreement, as defined below.

(3)Represents borrowings under the 2016 CoBank Credit Agreement, as defined below.

(4)Interest rate represents a weighted average of the stated interest rates of multiple issuances.

Debt Maturities by Year

	Principal
($ in millions)	Payments
2017 (remaining nine months)	$	325
2018	$	733
2019	$	818
2020	$	2,429
2021	$	2,554
2022	$	2,688
Thereafter	$	8,593