2.2.0.25falsefalse10601 - Disclosure - Debttruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($)
USD ($) / shares
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<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>6) Debt </b></font></p>
<p style="margin-top: 6px; text-indent: 40px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">As of March 31, 2011 and December 31, 2010, our long-term debt, net of unamortized discounts and other, consisted of the following: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 10px;"> </p>
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<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>March 31,<br /> 2011 </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
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<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>December 31,<br /> 2010 </b></font></td>
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<td valign="bottom" colspan="6" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>(Dollars in millions)</b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td></tr>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Current maturities of long-term debt</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
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<td valign="bottom"><font class="_mt" size="1"> </font></td>
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<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-term notes</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">2,325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,004</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr bgcolor="#bcddf7"><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-term capital lease and other obligations</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">97</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">85</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
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<td> </td>
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<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Total current maturities of long-term debt</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">2,422</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,089</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
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<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
<tr bgcolor="#bcddf7"><td valign="top"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
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<td valign="bottom"><font class="_mt" size="1"> </font></td>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-term debt, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"> </td>
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<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-term notes, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">9,083</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">10,579</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-term capital lease and other obligations, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">272</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">279</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
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<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Total long-term debt, net</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">9,355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">10,858</font></td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td></tr></table>
<p style="margin-top: 10px; text-indent: 40px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We were in compliance with all provisions and covenants of our debt as of March 31, 2011. </font></p>
<p style="margin-top: 10px; text-indent: 40px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">In February 2011, our wholly owned subsidiary, Qwest Capital Funding, Inc. ("QCF") paid at maturity the $<font class="_mt">179</font> million aggregate principal amount of its <font class="_mt">7.25</font>% Notes due <font class="_mt">2011</font>. </font></p>
<p style="margin-top: 10px; text-indent: 40px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Until <font class="_mt">April 1, 2011</font>, we had a revolving credit facility, which made available to us $<font class="_mt">1.035</font> billion of additional credit subject to certain restrictions. That credit facility was terminated in conjunction with the CenturyLink acquisition. In January 2011, CenturyLink entered into a new four-year revolving credit facility (the "Credit Facility") that allows CenturyLink to borrow up to $<font class="_mt">1.700</font> billion for the general corporate purposes of itself and its subsidiaries. Up to $<font class="_mt">400</font> million of the Credit Facility can be used for letters of credit. <font class="_mt">Interest is assessed on borrowings using the London Interbank Offered Rate ("LIBOR") plus an applicable margin between 0.5% and 2.5% per annum depending on the type of loan and CenturyLink's current senior unsecured long-term debt rating.</font> As of April 29, 2011, CenturyLink had <font class="_mt">$<font class="_mt">1.639</font> </font>billion available under the Credit Facility. QCII and QSC are guarantors of the Credit Facility. </font></p> </div>6) Debt
As of March 31, 2011 and December 31, 2010, our long-term debt, net of unamortized discounts and other, consisted of thefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInformation about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 4
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