Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2017

Long-Term Debt [Abstract]

Long-Term Debt

			Nine months ended September 30, 2017
($ in millions)	January 1, 2017		Payments and Retirements		New Borrowings		September 30, 2017		Interest Rate at September 30, 2017*
Senior and Subsidiary Unsecured Debt	$	15,900	$	(1,544)	$	-	$	14,356	9.22%
Senior Secured Debt		2,151		(114)		1,500		3,537	4.90%
Secured Subsidiary Debt		100		-		-		100	8.50%
Other Secured Debt		19		(3)		-		16	5.25%
Rural Utilities Service Loan Contracts		8		(1)		-		7	6.15%
Total Long-Term Debt	$	18,178	$	(1,662)	$	1,500	$	18,016	8.36%
Less: Debt Issuance Costs		(209)						(190)
Less: Debt Premium/(Discount)		(46)						(56)
Less: Current Portion		(363)						(166)
	$	17,560					$	17,604

*  Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at September 30, 2017 represent a weighted average of multiple issuances.

Senior Unsecured Debt

	September 30, 2017			December 31, 2016
	Principal		Interest	Principal		Interest
($ in millions)	Outstanding		Rate	Outstanding		Rate
Senior Unsecured Debt Due:
4/15/2017	$	-	8.250%	$	210	8.250%
10/1/2018		578	8.125%		583	8.125%
3/15/2019		428	7.125%		434	7.125%
4/15/2020		619	8.500%		1,169	8.500%
9/15/2020		303	8.875%		1,066	8.875%
7/1/2021		490	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%
		13,606			15,150
Senior Secured Debt Due:
10/24/2019 (1)		254	5.115% (Variable)		280	4.145% (Variable)
3/31/2021 (2)		1,503	3.990% (Variable)		1,564	3.270% (Variable)
10/12/2021 (3)		284	5.115% (Variable)		307	4.145% (Variable)
6/15/2024 (4)		1,496	4.990% (Variable)		-
		3,537			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	$	17,993	8.1% (5)	$	18,151	8.3% (5)

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

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

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

(4)Represents borrowings under the JPM Credit Agreement Term Loan B, as defined below.

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

Debt Maturities by Year

	Principal
($ in millions)	Payments
2017 (remaining three months)	$	42
2018	$	743
2019	$	828
2020	$	1,132
2021	$	2,558
2022	$	2,703
Thereafter	$	10,010