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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

A summary of long-term debt at December 31, including related interest rates at December 31, 2018, follows (dollars in millions):

 

     2018     2017  

Senior secured asset-based revolving credit facility (effective interest rate of 4.0%)

   $ 3,040     $ 3,680  

Senior secured revolving credit facility

     —         —    

Senior secured term loan facilities (effective interest rate of 3.7%)

     3,801       3,891  

Senior secured notes (effective interest rate of 5.6%)

     13,800       15,300  

Other senior secured debt (effective interest rate of 5.6%)

     585       599  
  

 

 

   

 

 

 

Senior secured debt

     21,226       23,470  

Senior unsecured notes (effective interest rate of 6.3%)

     11,752       9,752  

Net debt issuance costs

     (157     (164
  

 

 

   

 

 

 

Total debt (average life of 6.4 years, rates averaging 5.5%)

     32,821       33,058  

Less amounts due within one year

     788       200  
  

 

 

   

 

 

 
   $ 32,033     $ 32,858