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Long-Term Debt and Credit Facilities (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Including Unamortized Discounts and Premiums
The following chart reflects the consolidated long-term debt of CenturyLink, Inc. and its subsidiaries, including unamortized discounts and premiums and unamortized debt issuance costs, but excluding intercompany debt:
Interest Rates(1)
MaturitiesJune 30, 2020December 31, 2019
   (Dollars in millions)
Senior Secured Debt: (2)
CenturyLink, Inc.
Revolving Credit Facility (3)
2.190%2025$1,075  250  
Term Loan A (3)(4)
LIBOR + 2.00%
20251,137  1,536  
Term Loan A-1 (3)(4)
LIBOR + 2.00%
2025325  333  
Term Loan B (3)(5)
LIBOR + 2.25%
20274,975  5,880  
Senior note4.000%20271,250  —  
Subsidiaries:
Level 3 Financing, Inc.
Tranche B 2027 Term Loan (6)
LIBOR + 1.75%
20273,111  3,111  
Senior notes
3.400% - 3.875%
2027 - 2029
1,500  1,500  
Embarq Corporation subsidiaries
First mortgage bonds
7.125% - 8.375%
2023 - 2025
138  138  
Senior Notes and Other Debt:    
CenturyLink, Inc.
Senior notes
5.125% - 7.650%
2021 - 2042
7,645  8,696  
Subsidiaries:
Level 3 Financing, Inc.
Senior notes
4.250% - 5.625%
2022 - 2028
6,715  5,515  
Qwest Corporation
Senior notes
6.125% - 7.750%
2021 - 2057
4,656  5,956  
Term Loan (7)
LIBOR + 2.00%
2025100  100  
Qwest Capital Funding, Inc.
Senior notes
6.875% - 7.750%
2021 - 2031
352  352  
Embarq Corporation and subsidiary
Senior note7.995%20361,437  1,450  
Finance lease and other obligationsVariousVarious202  222  
Unamortized discounts, net  (48) (52) 
Unamortized debt issuance costs(271) (293) 
Total long-term debt  34,299  34,694  
Less current maturities (8)
  (2,885) (2,300) 
Long-term debt, excluding current maturities  $31,414  32,394  
______________________________________________________________________ 
(1)As of June 30, 2020.
(2)See Note 7—Long-Term Debt and Credit Facilities in our Annual Report on Form 10-K for the year ended December 31, 2019 for a description of certain parent or subsidiary guarantees and liens securing this debt.
(3)CenturyLink's credit agreement was amended as noted below, extending the maturity date of its (a) Term Loan A, Term Loan A-1 and Revolving Credit Facilities from 2022 to 2025 and (b) Term Loan B from 2025 to 2027.
(4)Term Loans A and A-1 had interest rates of 2.178% and 4.549% as of June 30, 2020 and December 31, 2019, respectively.
(5)Term Loan B had interest rates of 2.428% and 4.549% as of June 30, 2020 and December 31, 2019, respectively.
(6)The Tranche B 2027 Term Loan had an interest rate of 1.928% as of June 30, 2020 and 3.549% as of December 31, 2019, respectively.
(7)Qwest Corporation Term Loan had an interest rate of 2.180% as of June 30, 2020 and 3.800% as of December 31, 2019, respectively.
(8)See "Subsequent Event" for further details on the July 15, 2020 redemption of $1.2 billion of senior unsecured notes.
Schedule of Maturities of Long-term Debt
Set forth below is the aggregate principal amount of our long-term debt as of June 30, 2020 (excluding unamortized discounts, net and unamortized debt issuance costs) maturing during the following years:
 (Dollars in millions)
2020 (remaining six months) (1)
$1,585  
20212,419  
20221,537  
20231,800  
20242,037  
2025 and thereafter25,240  
Total long-term debt$34,618  
______________________________________________________________________ 
(1)See "—Subsequent Event" below.