XML 43 R33.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED DEBT (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Consolidated Debt
Consolidated debt is as follows (in millions, except percentages):
 
Average
 Rate (1)
March 31, 2021December 31, 2020
LONG-TERM DEBT:
Revolving credit facility2.00%$250 $222 
Term loan, net2.74%372 374 
Credit facilities subtotal$622 $596 
Senior notes, net of deferred financing costs 1,184 1,184 
Tax-exempt bonds, net of deferred financing costs540 540 
Equipment financing arrangements76 78 
Finance leases (2)
7 7 
China venture loan9 9 
Total long-term debt$2,438 $2,414 
Less: current portion(27)(18)
Noncurrent long-term debt$2,411 $2,396 
PROJECT DEBT:
Total project debt$124 $125 
Less: current portion(9)(9)
Noncurrent project debt$115 $116 
TOTAL CONSOLIDATED DEBT$2,562 $2,539 
Less: current debt (36)(27)
TOTAL NONCURRENT CONSOLIDATED DEBT$2,526 $2,512 
(1)Includes the effects of the interest rate swap agreement to swap to a fixed rate the variable portion of our interest rate expense on $200 million of notional amount of debt under the Credit Facilities. See Note 11. Derivative Instruments for further information.
Revolving Credit Facility
As of March 31, 2021, we had unutilized capacity under the Revolving Credit Facility as follows (in millions, except years):
Total Facility Commitment Expiring YearDirect Borrowings Outstanding Letters of CreditUnutilized Capacity
Revolving Credit Facility$900 2023$250 $228 $422