Short-term Borrowings and Other Debt Obligations (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Short-term Debt and Other Debt Obligations

(Dollars in millions)	September 30, 2019		December 31, 2018
Debtor in Possession Term Loan	$	986	$	—
Debtor in Possession Revolving Credit Facility	400		—
364-Day Credit Agreement	—		317
A&R Credit Agreement	305		—
Other Short-term Loans	5		9
Current Portion of Long-term Debt (included current portion of Term Loan Agreement)	10		57
Debtor in Possession Financing, Short-term Borrowings and Current Portion of Long-term Debt	$	1,706	$	383

Fair Value,of Short and Long-term Borrowings

The fair value of our long-term debt is classified as Level 2 in the fair value hierarchy and is established based on observable inputs in less active markets. The discussion on fair value is continued at “Note 12 – Fair Value of Financial Instruments, Assets and Other Assets.” The fair value and carrying value of our senior notes were as follows: 

(Dollars in millions)	September 30, 2019		December 31, 2018
Fair Value	$	2,617	$	4,455
Carrying Value	7,427		7,285