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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

A summary of long-term debt at December 31, including related interest rates at December 31, 2017, follows (dollars in millions):

 

     2017     2016  

Senior secured asset-based revolving credit facility (effective interest rate of 3.0%)

   $ 3,680     $ 2,920  

Senior secured revolving credit facility

     —         —    

Senior secured term loan facilities (effective interest rate of 3.5%)

     3,891       3,981  

Senior secured notes (effective interest rate of 5.4%)

     15,300       13,800  

Other senior secured debt (effective interest rate of 5.7%)

     599       593  
  

 

 

   

 

 

 

Senior secured debt

     23,470       21,294  

Senior unsecured notes (effective interest rate of 6.4%)

     9,752       10,252  

Net debt issuance costs

     (164     (170
  

 

 

   

 

 

 

Total debt (average life of 6.8 years, rates averaging 5.2%)

     33,058       31,376  

Less amounts due within one year

     200       216  
  

 

 

   

 

 

 
   $ 32,858     $ 31,160