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CONSOLIDATED DEBT (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Consolidated Debt Consolidated debt is as follows (in millions)
 
Average
 Rate (1)
 
March 31, 2019
 
December 31, 2018
LONG-TERM DEBT:
 
 
 
 
 
Revolving credit facility
4.38%
 
$
281

 
$
212

Term loan, net
4.47%
 
391

 
394

Credit Facilities subtotal
 
 
672

 
606

Senior Notes, net of deferred financing costs
 
 
1,184

 
1,184

Tax-Exempt Bonds, net of deferred financing costs
 
 
489

 
488

Equipment financing capital leases
 
 
63

 
64

Total long-term debt
 
 
2,408

 
2,342

Less: Current portion
 
 
(15
)
 
(15
)
Noncurrent long-term debt
 
 
$
2,393

 
$
2,327

 
 
 
 
 
 
PROJECT DEBT:
 
 
 
 
 
Total project debt, net of deferred financing costs and unamortized debt premium
 
 
$
141

 
$
152

Less: Current portion
 
 
(10
)
 
(19
)
Noncurrent project debt
 
 
$
131

 
$
133

 
 
 
 
 
 
TOTAL CONSOLIDATED DEBT
 
 
$
2,549

 
$
2,494

Less: Current debt
 
 
(25
)

(34
)
TOTAL NONCURRENT CONSOLIDATED DEBT
 
 
$
2,524

 
$
2,460


(1) On March 31, 2019 we entered into an interest rate swap agreement to swap the LIBOR portion of our floating interest rate to a fixed rate of 2.132%. See Note 10. Derivative Instruments for further information.
Revolving Credit Facility As of March 31, 2019, we had unutilized capacity under the Revolving Credit Facility as follows (in millions):
 
Total Facility Commitment
 
Expiring
 
Direct Borrowings
 
Outstanding Letters of Credit
 
Unutilized Capacity
Revolving Credit Facility
$
900

 
2023
 
$
281

 
$
277

 
$
342