Debt

6 Months Ended

Jun. 30, 2020

10. Debt

Changes in debt (in millions) were as follows:


	For the Six
	Months Ended
	June 30,
		2020
Balance as of beginning-of-year		$	6,367
LIBOR + 150 bps term loan issued, due 2022			500
Senior notes issued:
3.40% notes, due 2031			500
4.375% notes, due 2050			300
Repayment of 6.25% senior notes, due 2020			(300	)
Early extinguishment of 4.85% senior notes, due 2021			(296	)
Repayment of LIBOR + 150 bps term loan, due 2022			(500	)
Unamortized premiums (discounts)			(1	)
Unamortized debt issuance costs			(6	)
Unamortized adjustments from discontinued hedges			259
Fair value hedge on interest rate swap agreements			(87	)
Balance as of end-of-period		$	6,736

Details underlying the recognition of a loss on the early extinguishment of debt (in millions) reported within interest expense on our Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2020, were as follows:


Principal balance outstanding prior to payoff ⁽¹⁾	$	796
Unamortized debt issuance costs and discounts		(2	)
Amount paid to retire debt		(809	)
Gain (loss) on early extinguishment of debt, pre-tax	$	(15	)

⁽¹⁾During the second quarter of 2020, we redeemed our $296 million outstanding principal amount of 4.85% senior notes due 2021 and repaid our $500 million LIBOR + 150 bps term loan due 2022.