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Borrowings
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Borrowings Borrowings
CSC Senior Notes

CSC’s Senior Notes are unsecured obligations. CSC may redeem some or all of the Senior Notes of each series prior to their maturity, subject to certain restrictions, and the payment of an applicable make-whole premium in certain instances. Interest is payable semi-annually for the fixed-rate Senior Notes and quarterly for the floating-rate Senior Notes.

TDA Holding Senior Notes

TDA Holding’s Senior Notes are unsecured obligations. TDA Holding may redeem some or all of the Senior Notes of each series prior to their maturity, subject to certain restrictions, and the payment of an applicable make-whole premium in certain instances. Interest is payable semi-annually for the fixed-rate Senior Notes.
The following table lists long-term debt by instrument outstanding as of December 31, 2021 and 2020.
Date ofPrincipal Amount Outstanding
Issuance20212020
CSC Fixed-rate Senior Notes:
3.250% due May 21, 2021
05/22/18$— $600 
3.225% due September 1, 2022
08/29/12256 256 
2.650% due January 25, 2023
12/07/17800 800 
3.550% due February 1, 2024
10/31/18500 500 
0.750% due March 18, 2024
03/18/211,500 — 
3.750% due April 1, 2024 (1)
09/24/21350 — 
3.000% due March 10, 2025
03/10/15375 375 
4.200% due March 24, 2025
03/24/20600 600 
3.625% due April 1, 2025 (1)
09/24/21418 — 
3.850% due May 21, 2025
05/22/18750 750 
3.450% due February 13, 2026
11/13/15350 350 
0.900% due March 11, 2026
12/11/201,250 1,250 
1.150% due May 13, 2026
05/13/211,000 — 
3.200% due March 2, 2027
03/02/17650 650 
3.300% due April 1, 2027 (1)
09/24/21744 — 
3.200% due January 25, 2028
12/07/17700 700 
2.000% due March 20, 2028
03/18/211,250 — 
4.000% due February 1, 2029
10/31/18600 600 
3.250% due May 22, 2029
05/22/19600 600 
2.750% due October 1, 2029 (1)
09/24/21475 — 
4.625% due March 22, 2030
03/24/20500 500 
1.650% due March 11, 2031
12/11/20750 750 
2.300% due May 13, 2031
05/13/21750 — 
1.950% due December 1, 2031
08/26/21850 — 
CSC Floating-rate Senior Notes:
Three-month LIBOR + 0.32% due May 21, 2021
05/22/18— 600 
SOFR + 0.500% due March 18, 2024
03/18/211,250 — 
SOFR + 0.520% due May 13, 2026
05/13/21500 — 
Total CSC Senior Notes17,768 9,881 
TDA Holding Fixed-rate Senior Notes:
2.950% due April 1, 2022
03/09/15750 750 
3.750% due April 1, 2024 (1)
11/01/1850 400 
3.625% due April 1, 2025 (1)
10/22/1482 500 
3.300% due April 1, 2027 (1)
04/27/1756 800 
2.750% due October 1, 2029 (1)
08/16/1925 500 
TDA Holding Floating-rate Senior Notes:
Three-month LIBOR + 0.43% due November 1, 2021
11/01/18— 600 
Total TDA Holding Senior Notes 963 3,550 
Finance lease liabilities94 6 
Unamortized premium — net180 249 
Debt issuance costs(91)(54)
Total long-term debt$18,914 $13,632 
(1) During 2021, we completed an offer to exchange certain senior notes issued by TDA Holding for senior notes issued by CSC. Of the approximately $2.2 billion in aggregate principal amount of TDA Holding’s senior notes offered in the exchange, 90%, or approximately $2.0 billion, were tendered and accepted. The new senior notes issued by CSC have the same interest rates and maturity dates as the TDA Holding senior notes. The $213 million not exchanged remained outstanding across four series of senior notes issued by TDA Holding. The debt exchange was treated as a debt modification for accounting purposes.
Annual maturities on all long-term debt outstanding at December 31, 2021, are as follows:
Maturities
2022$1,036 
2023829 
20243,673 
20252,237 
20263,100 
Thereafter7,950 
Total maturities18,825 
Unamortized premium — net180 
Debt issuance costs(91)
Total long-term debt$18,914 

Short-term borrowings: CSC has the ability to issue up to $5.0 billion of commercial paper notes ($1.5 billion at December 31, 2020) with maturities of up to 270 days. CSC had $3.0 billion of commercial paper notes outstanding at December 31, 2021 and none outstanding at December 31, 2020. CSC and CS&Co also have access to uncommitted lines of credit with external banks with total borrowing capacity of $1.5 billion; no amounts were outstanding as of December 31, 2021 or 2020.

Our banking subsidiaries maintain secured credit facilities with the FHLB. Amounts available under these facilities are dependent on the amount of our First Mortgages, HELOCs, and the fair value of certain of their investment securities that are pledged as collateral. As of December 31, 2021 and 2020, the collateral pledged provided a total borrowing capacity of $63.5 billion and $55.1 billion, respectively, of which no amounts were outstanding at the end of either year.

Our banking subsidiaries have access to funding through the Federal Reserve discount window. Amounts available are dependent upon the fair value of certain investment securities that are pledged as collateral. As of December 31, 2021 and 2020, our collateral pledged provided total borrowing capacity of $12.0 billion and $7.9 billion, respectively, of which no amounts were outstanding at the end of either year.

Our banking subsidiaries may engage with external banks in repurchase agreements collateralized by investment securities as another source of short-term liquidity. The Company had no borrowings outstanding pursuant to such repurchase agreements at December 31, 2021 or 2020.

TDAC maintains secured uncommitted lines of credit, under which TDAC borrows on either a demand or short-term basis and pledges client margin securities as collateral. There was $1.9 billion outstanding under the secured uncommitted lines of credit as of December 31, 2021. There were no borrowings outstanding under these secured uncommitted lines of credit as of December 31, 2020. See Note 17 for additional information.

TDAC maintains a senior unsecured committed revolving credit facility with an aggregate borrowing capacity of $600 million, which matures in April 2022. Additionally, at December 31, 2020, TDAC maintained an $850 million unsecured committed revolving credit facility which matured in April 2021 and was not renewed. There were no borrowings outstanding under the TDAC senior revolving facilities as of December 31, 2021 or December 31, 2020.