Long-Term Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of long-term debt including unamortized discounts and premiums

Long-term debt, including unamortized discounts and premiums and unamortized debt issuance costs, consisting of borrowings by CenturyLink, Inc. and certain of its subsidiaries, including CenturyLink Escrow, LLC, Qwest Corporation, Qwest Capital Funding, Inc. and Embarq Corporation and its subsidiaries ("Embarq"), were as follows:

	Interest Rates	Maturities	As of June 30, 2017			As of December 31, 2016
			(Dollars in millions)
CenturyLink, Inc.
Senior notes	5.625% - 7.650%	2019 - 2042	$	8,125		8,975
Credit Facility and revolving line of credit(1)	—%	2019	—			370
Term loan	2.980%	2019	325			336
Subsidiaries
CenturyLink Escrow, LLC
Term loan "B"(2)	1.375%	2025	6,000			—
Qwest Corporation
Senior notes	6.125% - 7.750%	2021 - 2057	7,294			7,259
Term loan	2.980%	2025	100			100
Qwest Capital Funding, Inc.
Senior notes	6.500% - 7.750%	2018 - 2031	981			981
Embarq Corporation and subsidiaries
Senior note	7.995%	2036	1,485			1,485
First mortgage bonds	7.125% - 8.770%	2017 - 2025	223			223
Other	9.000%	2019	150			150
Capital lease and other obligations(3)	Various	Various	766			440
Unamortized discounts, net			(166		)	(133	)
Unamortized debt issuance costs			(206		)	(193	)
Total long-term debt			25,077			19,993
Less current maturities not associated with assets held for sale			(196		)	(1,503	)
Less capital lease obligations associated with assets held for sale			—			(305	)
Long-term debt, excluding current maturities and capital leases obligations associated with assets held for sale			$	24,881		18,185

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⁽¹⁾  The aggregate amount outstanding on our Credit Facility and revolving line of credit borrowings at December 31, 2016 was $370 million with a weighted-average interest rate of 4.500%. At June 30, 2017, we had no borrowings outstanding under our Credit Facility or revolving line of credit. These amounts change on a regular basis.

⁽²⁾  Represents the fixed rate in effect at June 30, 2017. Please see "Level 3 Financing Credit Agreement" for information on future rates.

⁽³⁾  As a result of not meeting the sale leaseback accounting requirements, we must treat a certain amount of the pre-tax cash proceeds from the sale of our real estate assets as though it were the result of a financing obligation on our consolidated balance sheet. Also, the capital lease obligations that were shown as held for sale as of December 31, 2016 are retained. Please see Note 3—Sale of Data Centers and Colocation Business for additional information on our preliminary estimate of the financing obligation.