Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of long-term debt

The following table summarizes our long-term debt:

	Interest Rates	Maturities	June 30, 2018			December 31, 2017
			(Dollars in millions)
Level 3 Parent, LLC
Senior notes (1)	5.750%	2022	$	600		600
Subsidiaries
Level 3 Financing, Inc.
Senior notes (2)	5.125% - 6.125%	2021 - 2026	5,315			5,315
Term loan (3)	LIBOR + 2.25%	2024	4,611			4,611
Capital leases	Various	Various	174			179
Total long-term debt, excluding unamortized premiums			10,700			10,705
Unamortized premiums, net			170			185
Total long-term debt			10,870			10,890
Less current maturities			(13		)	(8	)
Long-term debt, excluding current maturities			$	10,857		10,882

(1) The notes are not guaranteed by any of Level 3 Parent, LLC's subsidiaries.

(2)The notes are fully and unconditionally guaranteed on an unsubordinated unsecured basis by Level 3 Parent, LLC and Level 3 Communications, LLC.    

(3) The Tranche B 2024 Term Loan is a secured obligation and is guaranteed by Level 3 Parent, LLC and certain other subsidiaries. The Tranche B 2024 Term Loan had an interest rate of 4.334% as of June 30, 2018 and 3.557% as of December 31, 2017. The interest rate on the Tranche B 2024 Term Loan is set with a minimum London Interbank Offered Rate ("LIBOR ") of zero percent.

Schedule of aggregate future contractual maturities of long-term debt and capital leases (excluding discounts)

Set forth below is the aggregate principal amount of our long-term debt and capital leases (excluding unamortized premiums) maturing during the following years:

	(Dollars in millions)
2018 (remaining six months)	$	7
2019	8
2020	10
2021	651
2022	1,726
2023 and thereafter	8,298
Total long-term debt	$	10,700