Long Term Debt (Tables)

3 Months Ended

Mar. 31, 2019

Long Term Debt [Abstract]

Long-Term Debt

			For the three months ended March 31, 2019
($ in millions)	January 1, 2019		Payments and Retirements		New Borrowings		March 31, 2019		Interest Rate at March 31, 2019*
Secured debt issued by Frontier	$	5,246	$	(1,921)	$	2,025	$	5,350	7.68%
Unsecured debt issued by Frontier		11,297		(348)		-		10,949	9.64%
Secured debt issued by subsidiaries		107		(1)		-		106	8.36%
Unsecured debt issued by subsidiaries		750		-		-		750	6.90%
Total debt	$	17,400	$	(2,270)	$	2,025	$	17,155	8.90%
Less: Debt Issuance Costs		(178)						(187)
Less: Debt Premium (Discount)		(50)						(49)
Less: Current Portion		(814)						(393)
Total Long-term debt	$	16,358					$	16,526

* Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at March 31, 2019 represent a weighted average of multiple issuances.

Senior Unsecured Debt

	March 31, 2019			December 31, 2018
	Principal		Interest	Principal		Interest
($ in millions)	Outstanding		Rate	Outstanding		Rate
Secured debt issued by Frontier
Term loan due 3/31/2021 (1)	$	-		$	1,402	5.280% (Variable)
Term loan due 10/12/2021(2)		-			239	7.405% (Variable)
Revolver due 2/27/2024(3)		375	5.488% (Variable)		275	5.280% (Variable)
Term loan due 6/15/2024 (4)		1,712	6.250% (Variable)		1,716	6.280% (Variable)
First lien notes due 4/1/2027		1,650	8.000%		-
Second lien notes due 4/1/2026		1,600	8.500%		1,600	8.500%
IDRB due 5/1/2030		13	6.200%		13	6.200%
Equipment financings		-			1	0.000%
Total secured debt issued by Frontier		5,350			5,246
Senior notes due 3/15/2019		-			348	7.125%
Senior notes due 4/15/2020		172	8.500%		172	8.500%
Senior notes due 9/15/2020		55	8.875%		55	8.875%
Senior notes due 7/1/2021		89	9.250%		89	9.250%
Senior notes due 9/15/2021		220	6.250%		220	6.250%
Senior notes due 4/15/2022		500	8.750%		500	8.750%
Senior notes due 9/15/2022		2,188	10.500%		2,188	10.500%
Senior notes due 1/15/2023		850	7.125%		850	7.125%
Senior notes due 4/15/2024		750	7.625%		750	7.625%
Senior notes due 1/15/2025		775	6.875%		775	6.875%
Senior notes due 9/15/2025		3,600	11.000%		3,600	11.000%
Debentures due 11/1/2025		138	7.000%		138	7.000%
Debentures due 8/15/2026		2	6.800%		2	6.800%
Senior notes due 1/15/2027		346	7.875%		346	7.875%
Senior notes due 8/15/2031		945	9.000%		945	9.000%
Debentures due 10/1/2034		1	7.680%		1	7.680%
Debentures due 7/1/2035		125	7.450%		125	7.450%
Debentures due 10/1/2046		193	7.050%		193	7.050%
Total unsecured debt issued by Frontier		10,949			11,297
Secured debt issued by subsidiaries
Debentures due 11/15/2031		100	8.500%		100	8.500%
RUS loan contracts due 1/3/2028		6	6.154%		7	6.154%
Total secured debt issued by subsidiaries		106			107
Unsecured debt issued by subsidiaries
Debentures due 5/15/2027		200	6.750%		200	6.750%
Debentures due 2/1/2028		300	6.860%		300	6.860%
Debentures due 2/15/2028		200	6.730%		200	6.730%
Debentures due 10/15/2029		50	8.400%		50	8.400%
Total unsecured debt issued by subsidiaries		750			750
Total debt	$	17,155	8.651%(5)	$	17,400	8.411%(5)

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

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

(3)  Represents borrowings under the JPM Credit Agreement Revolver, 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

($ in millions)	Principal payments
2019 (remaining nine months)	$	13
2020	$	245
2021	$	327
2022	$	2,706
2023	$	868
Thereafter	$	12,621