XML 46 R81.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Long-Term Debt and Credit Facilities - Additional Information (Details)
12 Months Ended
Jan. 31, 2020
USD ($)
Jan. 24, 2020
USD ($)
Sep. 25, 2019
USD ($)
Nov. 02, 2017
Jun. 19, 2017
USD ($)
lender
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2015
USD ($)
Jan. 15, 2020
USD ($)
Nov. 29, 2019
USD ($)
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 35,039,000,000          
Repayments of debt           3,600,000,000 $ 1,700,000,000        
Gain on debt extinguishment           $ 72,000,000 (7,000,000) $ (5,000,000)      
Coverage ratio           2.00          
Debt Covenant, Period Two                      
Long-term Debt and Credit Facilities                      
Leverage ratio           4.75          
Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Debt instrument, periodic payment           $ 164,000,000          
Senior Notes                      
Long-term Debt and Credit Facilities                      
Debt instrument, periodic payment           $ 398,000,000          
Qwest Corporation                      
Long-term Debt and Credit Facilities                      
Repayments of debt             1,300,000,000        
EBITDA ratio           2.85          
Qwest Corporation | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 100,000,000 100,000,000        
Interest rate, stated percentage           2.00%          
Qwest Corporation | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 5,956,000,000 5,956,000,000        
Qwest Corporation | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Repurchased face amount                   $ 1,100,000,000  
Qwest Corporation | Senior Notes | Minimum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           6.125%          
Qwest Corporation | Senior Notes | Maximum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           7.75%          
Level 3 Financing, Inc.                      
Long-term Debt and Credit Facilities                      
Repayments of debt           $ 2,300,000,000          
Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 5,515,000,000 5,315,000,000        
Level 3 Financing, Inc. | Senior Notes | Minimum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           4.625%          
Level 3 Financing, Inc. | Senior Notes | Maximum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           6.125%          
CenturyLink, Inc.                      
Long-term Debt and Credit Facilities                      
Repayments of debt           $ 340,000,000          
CenturyLink, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 8,696,000,000 8,036,000,000        
Redemption price, percentage           101.00%          
CenturyLink, Inc. | Senior Notes | Minimum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           5.625%          
CenturyLink, Inc. | Senior Notes | Maximum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           7.65%          
Level 3 Parent, LLC                      
Long-term Debt and Credit Facilities                      
Repayments of debt           $ 600,000,000          
Level 3 Parent, LLC | Letter of Credit | Letter of Credit                      
Long-term Debt and Credit Facilities                      
Letters of credit outstanding           23,000,000 30,000,000        
Level 3 Parent, LLC | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 0 600,000,000        
Interest rate, stated percentage           5.75%          
Qwest Capital Funding, Inc                      
Long-term Debt and Credit Facilities                      
Repayments of debt           $ 345,000,000 174,000,000        
Qwest Capital Funding, Inc | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 352,000,000 697,000,000        
Qwest Capital Funding, Inc | Senior Notes | Minimum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           6.875%          
Qwest Capital Funding, Inc | Senior Notes | Maximum                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           7.75%          
Embarq Corporation                      
Long-term Debt and Credit Facilities                      
Maximum indebtedness, as a percent of tangible assets           15.00%          
Embarq Corporation | Senior Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 1,450,000,000 1,485,000,000        
Interest rate, stated percentage           7.995%          
New Senior Secured Credit Facilities                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross         $ 10,245,000,000            
2017 Revolving Credit Facility | CenturyLink Escrow, LLC | Revolving Credit Facility                      
Long-term Debt and Credit Facilities                      
Maximum borrowing capacity         $ 2,168,000,000            
Lenders of credit facility | lender         18            
2017 Revolving Credit Facility | CenturyLink Escrow, LLC | Revolving Credit Facility | Swingline Loan                      
Long-term Debt and Credit Facilities                      
Maximum borrowing capacity         $ 100,000,000            
2017 Revolving Credit Facility | CenturyLink Escrow, LLC | Revolving Credit Facility | Letter of Credit                      
Long-term Debt and Credit Facilities                      
Maximum borrowing capacity         $ 400,000,000            
2017 Revolving Credit Facility | CenturyLink, Inc. | Credit facility                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 250,000,000 550,000,000        
Interest rate, stated percentage           4.495%          
Term Loan A | CenturyLink Escrow, LLC | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Lenders of credit facility | lender         18            
Aggregate principal amount of debt issuance         $ 1,707,000,000            
Term Loan A | CenturyLink Escrow, LLC | Medium-term Notes | Minimum | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin         2.25%            
Term Loan A | CenturyLink Escrow, LLC | Medium-term Notes | Minimum | Base Rate                      
Long-term Debt and Credit Facilities                      
Interest rate margin         1.25%            
Term Loan A | CenturyLink Escrow, LLC | Medium-term Notes | Maximum | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin         3.00%            
Term Loan A | CenturyLink Escrow, LLC | Medium-term Notes | Maximum | Base Rate                      
Long-term Debt and Credit Facilities                      
Interest rate margin         2.00%            
Term Loan A | CenturyLink, Inc. | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 1,536,000,000 1,622,000,000        
Interest rate, stated percentage           2.75%          
Term Loan A-1 | CenturyLink Escrow, LLC | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance         $ 370,000,000            
Term Loan A-1 | CenturyLink, Inc. | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 333,000,000 351,000,000        
Interest rate, stated percentage           2.75%          
Term Loan B | CenturyLink Escrow, LLC | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance         $ 6,000,000,000.0            
Term Loan B | CenturyLink Escrow, LLC | Medium-term Notes | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin       2.75%              
Term Loan B | CenturyLink, Inc. | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 5,880,000,000 5,940,000,000        
Interest rate, stated percentage           2.75%          
Term Loan | Qwest Corporation | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 100,000,000 100,000,000        
Aggregate principal amount of debt issuance                 $ 100,000,000    
Term Loan | Qwest Corporation | Medium-term Notes | Minimum | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin                 1.50%    
Term Loan | Qwest Corporation | Medium-term Notes | Minimum | Base Rate                      
Long-term Debt and Credit Facilities                      
Interest rate margin                 0.50%    
Term Loan | Qwest Corporation | Medium-term Notes | Maximum | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin                 2.50%    
Term Loan | Qwest Corporation | Medium-term Notes | Maximum | Base Rate                      
Long-term Debt and Credit Facilities                      
Interest rate margin                 1.50%    
Tranche B 2027 Term Loan | Level 3 Financing, Inc. | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 3,111,000,000 0        
Interest rate, stated percentage           1.75%          
Tranche B 2027 Term Loan | Level 3 Financing, Inc. | Medium-term Notes | London Interbank Offered Rate (LIBOR)                      
Long-term Debt and Credit Facilities                      
Interest rate margin           1.00%          
Tranche B 2027 Term Loan | Level 3 Financing, Inc. | Medium-term Notes | Base Rate                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage           0.75%          
Tranche B 2027 Term Loan | Level 3 Financing, Inc. | Medium-term Notes | Federal Funds Effective Swap Rate                      
Long-term Debt and Credit Facilities                      
Interest rate margin           0.50%          
Tranche B 2027 Term Loan | Level 3 Financing, Inc. | Medium-term Notes | Eurodollar                      
Long-term Debt and Credit Facilities                      
Interest rate margin           1.75%          
Uncommitted Revolving Letter of Credit Facility | CenturyLink, Inc. | Letter of Credit | Letter of Credit                      
Long-term Debt and Credit Facilities                      
Maximum borrowing capacity           $ 225,000,000          
Letters of credit outstanding           82,000,000 97,000,000        
Collateralized Debt Obligations | Level 3 Parent, LLC | Letter of Credit | Letter of Credit                      
Long-term Debt and Credit Facilities                      
Letters of credit outstanding           18,000,000 24,000,000        
Senior Notes Due 2026 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance     $ 1,250,000,000                
Interest rate, stated percentage     5.125%                
Senior Notes Due 2026 | Level 3 Financing, Inc. | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Repayments of debt   $ 1,250,000,000                  
Senior Notes Due 2027 | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance   $ 1,250,000,000                  
Interest rate, stated percentage   4.00%                  
3.400% Senior Notes Due 2027 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance                     $ 750,000,000
Interest rate, stated percentage                     3.40%
3.875% Senior Secured Notes Due 2029 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance                     $ 750,000,000
Interest rate, stated percentage                     3.875%
Tranche B 2024 Term Loan | Level 3 Financing, Inc. | Medium-term Notes                      
Long-term Debt and Credit Facilities                      
Long-term debt, gross           $ 0 $ 4,611,000,000        
Interest rate, stated percentage           2.25%          
Tranche B 2024 Term Loan | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Repurchased face amount                     $ 4,611,000,000
4.625% Senior Notes Due 2027 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance     $ 1,000,000,000.0               $ 3,111,000,000
Interest rate, stated percentage     4.625%                
6.125% Senior Notes due 2021 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage     6.125%                
Repurchased face amount     $ 240,000,000                
Senior Notes, 5.75% Due 2022 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage     5.75%                
Repurchased face amount     $ 600,000,000                
5.375% Senior Notes Due 2022 | Level 3 Financing, Inc. | Senior Notes                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance     $ 1,000,000,000                
Interest rate, stated percentage     5.375%                
Repayments of debt     $ 160,000,000                
Amended Credit Agreement | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance $ 8,699,000,000                    
Amended Credit Agreement | Minimum | Base Rate | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 0.50%                    
Amended Credit Agreement | Minimum | Eurodollar | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 1.50%                    
Amended Credit Agreement | Maximum | Base Rate | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 1.25%                    
Amended Credit Agreement | Maximum | Eurodollar | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 2.25%                    
Amended Credit Agreement | Credit facility | Revolving Credit Facility | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Maximum borrowing capacity $ 2,200,000,000                    
Amended Credit Agreement, Term Loan A | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance 1,166,000,000                    
Amended Credit Agreement, Term Loan A-1 | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance 333,000,000                    
Amended Credit Agreement, Term Loan B | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Aggregate principal amount of debt issuance $ 5,000,000,000.0                    
Amended Credit Agreement, Term Loan B | Senior Notes | Base Rate | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 1.25%                    
Amended Credit Agreement, Term Loan B | Senior Notes | Eurodollar | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate margin 2.25%                    
6.875% Notes Due 2033 | Qwest Corporation | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage                   6.875%  
Repurchased face amount                   $ 850,000,000  
7.125% Notes Due 2043 | Qwest Corporation | Senior Notes | Subsequent Event                      
Long-term Debt and Credit Facilities                      
Interest rate, stated percentage                   7.125%  
Repurchased face amount                   $ 250,000,000