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Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Summary of Debt
 
December 31, 2019
 
December 31, 2018
(Dollars in millions)
Final
Maturity
 
Rates
 
Face Value
 
Book Value
 
Book Value
Secured debt
 
 
 
 
 
 
 
 
 
CRC Revolving Credit Facility
2022
 
variable (1)
 
$
—

 
$
—

 
$
100

CRC Term Loan
2024
 
variable (2)
 
4,606

 
4,541

 
4,577

CEOC LLC Revolving Credit Facility
2022
 
variable (3)
 
—

 
—

 
—

CEOC LLC Term Loan
2024
 
variable (3)
 
1,220

 
1,218

 
1,483

Unsecured debt
 
 
 
 
 
 
 
 
 
CEC Convertible Notes
2024
 
5.00%
 
1,086

 
1,058

 
1,083

CRC Notes
2025
 
5.25%
 
1,700

 
1,672

 
1,668

Special Improvement District Bonds
2037
 
4.30%
 
53

 
53

 
54

Total debt
 
8,665

 
8,542

 
8,965

Current portion of long-term debt
 
(64
)
 
(64
)
 
(164
)
Long-term debt
 
$
8,601

 
$
8,478

 
$
8,801

 
 
 
 
 
 
 
Unamortized premiums, discounts and deferred finance charges
 
 
 
$
123

 
$
110

Fair value
 
$
8,821

 


 
 
____________________
(1) 
London Interbank Offered Rate (“LIBOR”) plus 2.13%.
(2) 
LIBOR plus 2.75%.
(3) 
LIBOR plus 2.00%.
Annual Estimated Debt Service Requirements
Annual Estimated Debt Service Requirements
 
Years Ended December 31,
 
 
 
 
(In millions)
2020
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total
Annual maturities of long-term debt
$
64

 
$
64

 
$
64

 
$
64

 
$
6,666

 
$
1,743

 
$
8,665

Estimated interest payments
430

 
410

 
400

 
390

 
380

 
100

 
2,110

Total debt service obligation (1)
$
494

 
$
474

 
$
464

 
$
454

 
$
7,046

 
$
1,843

 
$
10,775

____________________
(1) 
Debt principal payments are estimated amounts based on maturity dates and potential borrowings under our revolving credit facilities. Interest payments are estimated based on the forward-looking LIBOR curve and include the estimated impact of the ten interest rate swap agreements (see Note 8). Actual payments may differ from these estimates.
Summary of Debt and Revolving Credit Facility Cash Flows from Financing Activities
Summary of Debt and Revolving Credit Facility Cash Flows from Financing Activities in 2019
(In millions)
 
Repayments
 
Debt issuance and extension costs and fees
CEC Convertible Notes
 
$
—

 
$
(28
)
CRC Revolving Credit Facility
 
(100
)
 
—

CRC Term Loan
 
(47
)
 
—

CEOC LLC Term Loan
 
(265
)
 
—

Other debt activity
 
(2
)
 
—

Total
 
$
(414
)
 
$
(28
)