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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]  
Summary of Material Contractual Obligations and Commercial Commitments

As of December 31, 2020, we have contractual obligations and commercial commitments that include expected interest on our Senior Notes, expected commitment fees on our 2015 Credit Facility, and long-term purchase obligations, as summarized in the table below. The expected timing of the payment of the obligations discussed below is estimated based on information available to us as of December 31, 2020. Timing of payments and actual amounts paid may be different depending on the time of receipt of goods or services or changes to agreed-upon amounts for some obligations.

 

 

 

 

 

 

By Period

 

 

 

Total

 

 

Less than

1 year

 

 

1 to 3 years

 

 

3 to 5 years

 

 

More than

5 years

 

 

 

(in millions)

 

Expected interest payments on Senior Notes (1)

 

$

161

 

 

$

35

 

 

$

71

 

 

$

55

 

 

$

—

 

Expected commitment fee payments on 2015 Credit Facility (2)

 

 

9

 

 

 

3

 

 

 

5

 

 

 

1

 

 

 

—

 

Purchase obligations and other (3)

 

 

19

 

 

 

8

 

 

 

9

 

 

 

1

 

 

 

1

 

Total (4)

 

$

189

 

 

$

46

 

 

$

85

 

 

$

57

 

 

$

1

 

 

(1)

Expected interest payments on our Senior Notes are based on a fixed interest rate of 7.0%, as of December 31, 2020. Refer to “Note 10: Debt” for additional information on our Senior Notes.  

 

(2)

Expected commitment fee payments are based on the daily unused portion of our 2015 Credit Facility, issued letters of credit, and the effective commitment fee rate as of December 31, 2020; however, these variables could change significantly in the future. Refer to “Note 10: Debt” for additional information on our 2015 Credit Facility.

 

(3)

Estimated purchase obligations that are fixed and determinable, primarily related to telecommunication contracts, with various expiration dates through approximately June 2029. These contracts have non-cancelable terms or are cancelable only upon payment of significant penalty.

 

(4)

Excluded from the table was $3 million of undrawn standby letters of credit, primarily as security deposits for certain property leases as of December 31, 2020.