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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

A summary of long-term debt at December 31, including related interest rates at December 31, 2016, follows (dollars in millions):

 

     2016     2015  

Senior secured asset-based revolving credit facility (effective interest rate of 2.2%)

   $ 2,920     $ 3,030  

Senior secured revolving credit facility

            

Senior secured term loan facilities (effective interest rate of 4.1%)

     3,981       5,639  

Senior secured notes (effective interest rate of 5.4%)

     13,800       11,100  

Other senior secured debt (effective interest rate of 5.8%)

     593       634  
  

 

 

   

 

 

 

Senior secured debt

     21,294       20,403  

Senior unsecured notes (effective interest rate of 6.5%)

     10,252       10,252  

Net debt issuance costs

     (170     (167
  

 

 

   

 

 

 

Total debt (average life of 6.3 years, rates averaging 5.3%)

     31,376       30,488  

Less amounts due within one year

     216       233  
  

 

 

   

 

 

 
   $ 31,160     $ 30,255