Debt (Tables)

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Schedule of Long-term Debt Instruments

t June 30, 2012 and December 31, 2011, our debt was as follows (in millions):

	June 30, 2012		December 31, 2011
First Lien Notes	$	5,892	$	5,892
Project financing, notes payable and other	1,865		1,691
First Lien Term Loans	1,638		1,646
CCFC Notes	975		972
Capital lease obligations	221		224
Total debt	10,591		10,425
Less: Current maturities	103		104
Debt, net of current portion	$	10,488	$	10,321

First Lien Notes

Our First Lien Notes are summarized in the table below (in millions):

	June 30, 2012		December 31, 2011
2017 First Lien Notes	$	1,200	$	1,200
2019 First Lien Notes	400		400
2020 First Lien Notes	1,092		1,092
2021 First Lien Notes	2,000		2,000
2023 First Lien Notes	1,200		1,200
Total First Lien Notes	$	5,892	$	5,892

Schedule of Line of Credit Facilities

The table below represents amounts issued under our letter of credit facilities at June 30, 2012 and December 31, 2011 (in millions):

	June 30, 2012		December 31, 2011
Corporate Revolving Facility	$	385	$	440
CDHI	256		193
Various project financing facilities	130		130
Total	$	771	$	763

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table details the fair values and carrying values of our debt instruments at June 30, 2012 and December 31, 2011 (in millions):

	June 30, 2012				December 31, 2011
	Fair Value		Carrying Value		Fair Value		Carrying Value
First Lien Notes	$	6,340	$	5,892	$	6,219	$	5,892
Project financing, notes payable and other(1)	1,667		1,705		1,467		1,504
First Lien Term Loans	1,630		1,638		1,615		1,646
CCFC Notes	1,085		975		1,070		972
Total	$	10,722	$	10,210	$	10,371	$	10,014

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(1) Excludes a lease that is accounted for as a failed sale-leaseback transaction under U.S. GAAP.