SENIOR NOTES

3 Months Ended

Mar. 31, 2024

Senior Notes [Abstract]

SENIOR NOTES

SENIOR NOTES

The table below displays Holdings’ outstanding senior notes. Fair value is based on quoted market prices, but due to limited trading activity, these senior notes are considered Level 2 in the fair value hierarchy.

					March 31, 2024				December 31, 2023
(Dollars in millions)	Date Issued	Date Due	Principal Amounts		Consolidated Balance Sheet Amount		Fair Value		Consolidated Balance Sheet Amount		Fair Value
4.868% Senior notes	6/5/2014	6/1/2044	$	400	$	398	$	363	$	398	$	369
3.5% Senior notes	10/7/2020	10/15/2050	1,000		981		702		981		742
3.125% Senior notes	10/4/2021	10/15/2052	1,000		970		648		970		688
			$	2,400	$	2,349	$	1,713	$	2,349	$	1,799

(Some amounts may not reconcile due to rounding.)

Interest expense incurred in connection with these senior notes is as follows for the periods indicated:

			Three Months Ended March 31,
(Dollars in millions)	Interest Paid	Payable Dates	2024		2023
4.868% Senior notes	semi-annually	June 1/December 1	$	5	$	5
3.5% Senior notes	semi-annually	April 15/October 15	9		9
3.125% Senior notes	semi-annually	April 15/October 15	8		8
			$	22	$	22

(Some amounts may not reconcile due to rounding.)