Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

At March 31, 2014 and December 31, 2013, our debt was as follows (in millions):

	March 31, 2014		December 31, 2013
First Lien Notes	$	4,989	$	4,989
First Lien Term Loans	2,821		2,828
Project financing, notes payable and other	1,865		1,901
CCFC Term Loans	1,607		1,191
Capital lease obligations	193		203
Subtotal	11,475		11,112
Less: Current maturities	189		204
Total long-term debt	$	11,286	$	10,908

First Lien Notes

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

	March 31, 2014		December 31, 2013
2019 First Lien Notes	$	320	$	320
2020 First Lien Notes	875		875
2021 First Lien Notes	1,600		1,600
2022 First Lien Notes	744		744
2023 First Lien Notes	960		960
2024 First Lien Notes	490		490
Total First Lien Notes	$	4,989	$	4,989

First Lien Term Loans

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

	March 31, 2014		December 31, 2013
2018 First Lien Term Loans	$	1,610	$	1,614
2019 First Lien Term Loan	822		824
2020 First Lien Term Loan	389		390
Total First Lien Term Loans	$	2,821	$	2,828

Schedule of Line of Credit Facilities

The table below represents amounts issued under our letter of credit facilities at March 31, 2014 and December 31, 2013 (in millions):

	March 31, 2014		December 31, 2013
Corporate Revolving Facility(1)	$	239	$	242
CDHI	240		218
Various project financing facilities	170		170
Total	$	649	$	630

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(1) The Corporate Revolving Facility represents our primary revolving facility.

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 March 31, 2014 and December 31, 2013 (in millions):

	March 31, 2014				December 31, 2013
	Fair Value		Carrying Value		Fair Value		Carrying Value
First Lien Notes	$	5,418	$	4,989	$	5,317	$	4,989
First Lien Term Loans	2,826		2,821		2,845		2,828
Project financing, notes payable and other(1)	1,751		1,743		1,772		1,766
CCFC Term Loans	1,590		1,607		1,179		1,191
Total	$	11,585	$	11,160	$	11,113	$	10,774

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