Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

Note 6: Debt

Debt balances and associated interest rates as of March 31, 2019 were:

			Principal balance as of
	Interest Rate at March 31, 2019	Maturity Date	March 31, 2019			December 31, 2018
			(in millions)
SF CMBS Loan	4.11%	November 2023	$	725		$	725
HHV CMBS Loan	4.20%	November 2026		1,275			1,275
Mortgage loans	Average rate of 4.22%	2020 to 2026(1)		207			207
Term loan	L + 1.45%	December 2021		750			750
Revolving credit facility(2)	L + 1.50%	December 2021(1)		—			—
Financing lease obligations	3.07%	2021 to 2022		1			1
				2,958			2,958
Less: unamortized deferred financing costs and    discount				(9	)		(10	)
			$	2,949		$	2,948

⁽¹⁾ Assumes the exercise of all extensions that are exercisable solely at our option.

⁽²⁾ $1 billion available.

We are required to deposit with lenders certain cash reserves for restricted uses. As of March 31, 2019 and December 31, 2018, our condensed consolidated balance sheets included $14 million and $15 million, respectively, of restricted cash related to our CMBS loans and mortgage loans.

Debt Maturities

The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of March 31, 2019 were:

Year	(in millions)
2019	$	—
2020		13
2021		751
2022		32
2023		728
Thereafter(1)		1,434
	$	2,958

⁽¹⁾ Assumes the exercise of all extensions that are exercisable solely at our option.