XML 36 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of long-term debt
The following chart reflects our consolidated long-term debt, including finance leases and other obligations, unamortized discounts and premiums, net and unamortized debt issuance costs, but excluding intercompany debt:
Interest Rates (1)
Maturities (1)
September 30, 2022December 31, 2021
(Dollars in millions)
Level 3 Financing, Inc.
Senior Secured Debt: (2)
Senior notes
3.400% - 3.875%
2027 - 2029
$1,500 1,500 
Tranche B 2027 Term Loan (3)
LIBOR + 1.75%
2027
2,411 3,111 
Senior Notes and other debt:
Senior notes (4)
3.625% - 4.625%
2027 - 2029
3,940 5,515 
Finance leases and other obligationsVariousVarious301 319 
Unamortized premiums, net3 34 
Unamortized debt issuance costs(50)(57)
Total long-term debt8,105 10,422 
Less current maturities(26)(26)
Long-term debt, excluding current maturities$8,079 10,396 
______________________________________________________________________
(1)As of September 30, 2022.
(2)See Note 7—Long-Term Debt in our Annual Report on Form 10-K for the year ended December 31, 2021 for a description of certain affiliate guarantees and liens securing this debt.
(3)The Tranche B 2027 Term Loan had an interest rate of 4.865% and 1.854% as of September 30, 2022 and December 31, 2021, respectively.
(4)See Note 7—Long-Term Debt in our Annual Report on Form 10-K for the year ended December 31, 2021 for a description of guarantees provided by certain affiliates of Level 3 Financing, Inc.
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 as of September 30, 2022 (excluding unamortized premiums, net, unamortized debt issuance costs, and intercompany debt), maturing during the following years:
(Dollars in millions)
2022 (remaining three months)$8 
202327 
202432 
202538 
202636 
2027 and thereafter8,011 
Total long-term debt$8,152 
Schedule of debt repayment
During the nine months ended September 30, 2022, we repaid the following aggregate principal amount of indebtedness through a combination of tender offers, redemptions, and repayments. These transactions resulted in a net gain of $9 million.

DebtPeriod of Repayment(Dollars in millions)
Tranche B 2027 Term LoanQ3 2022$700 
5.375% Senior Notes due 2025
Q3 2022800 
5.250% Senior Notes due 2026
Q3 2022775 
Total Debt Repayments$2,275