
	June 30, 2018
(in millions)		Debt Instrument	Unamortized Issuance Expense		Unamortized Debt Discount		Total
Variable rate (3.49% at June 30, 2018) 2018 revolving credit facility, due April 2023 (1)	$	360	$	−	$	−	$	360
4.05% Senior Notes due January 2020 (2)		92		−		−		92
4.10% Senior Notes due March 2022		1,000		(6)		−		994
4.95% Senior Notes due January 2025 (2)		1,000		(8)		(2)		990
7.50 % Senior Notes due April 2026		650		(9)		−		641
7.75 % Senior Notes due October 2027		500		(7)		−		493
Total debt	$	3,602	$	(30)	$	(2)	$	3,570


	December 31, 2017
(in millions)	Debt Instrument		Unamortized Issuance Expense		Unamortized Debt Discount		Total
Variable rate (3.980% at December 31, 2017) 2016 term loan facility, due December 2020 (3)	$	1,191	$	(8)	$	−	$	1,183
4.05% Senior Notes due January 2020 (2)		92		−		–		92
4.10% Senior Notes due March 2022		1,000		(7)		–		993
4.95% Senior Notes due January 2025 (2)		1,000		(8)		(2)		990
7.50% Senior Notes due April 2026		650		(10)		−		640
7.75% Senior Notes due October 2027		500		(7)		–		493
Total debt	$	4,433	$	(40)	$	(2)	$	4,391

(1)

The $12 million of unamortized issuance expense associated with the 2018 revolving credit facility is classified as other long-term assets on the unaudited condensed consolidated balance sheet and includes approximately $4 million in unamortized issuance expense associated with the Company’s previous 2016 revolving credit facility.

(2)

In February and June 2016, Moody’s and S&P downgraded certain senior notes, increasing the interest rates by 175 basis points effective July 2016. As a result of the downgrades, interest rates increased to 5.80% for the 2020 Notes and 6.70% for the 2025 Notes. In April and May 2018, S&P and Moody’s upgraded certain senior notes, decreasing the interest rates by 50 basis points effective July 2018. The first coupon payment to the bondholders at the lower interest rate will be paid in January 2019.

(3)

The Company repaid the $1,191 million secured term loan balance with cash on hand and borrowings under the 2018 credit facility.