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Debt (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Components of Debt The components of debt as of March 31, 2019 and December 31, 2018 consisted of the following:
 
March 31, 2019
(in millions)
Debt Instrument
 
Unamortized Issuance Expense
 
Unamortized Debt Discount
 
Total
Current portion of long-term debt:
 
 
 
 
 
 
 
4.05% Senior Notes due January 2020 (1)
$
52

 
$
—

 
$
—

 
$
52

Total current portion of long-term debt
$
52

 
$
—

 
$
—

 
$
52

 
 
 
 
 
 
 
 
Long-term debt:
 
 
 
 
 
 
 
Variable rate (3.923% at March 31, 2019) 2018 revolving credit facility, due April 2023
$
—

 
$
—

(2) 
$
—

 
$
—

4.10% Senior Notes due March 2022
213

 
(1
)
 
—

 
212

4.95% Senior Notes due January 2025 (1)
927

 
(7
)
 
(1
)
 
919

7.50 % Senior Notes due April 2026
650

 
(8
)
 
—

 
642

7.75 % Senior Notes due October 2027
500

 
(6
)
 
—

 
494

Total long-term debt
$
2,290

 
$
(22
)
 
$
(1
)
 
$
2,267

 
 
 
 
 
 
 
 
Total debt
$
2,342

 
$
(22
)
 
$
(1
)
 
$
2,319

 
 
 
 
 
 
 
 
 
December 31, 2018
(in millions)
Debt Instrument
 
Unamortized Issuance Expense
 
Unamortized Debt Discount
 
Total
Long-term debt:
 
 
 
 
 
 
 
Variable rate (3.920% at December 31, 2018) 2018 term loan facility, due April 2023
$
—

 
$
—

(2) 
$
—

 
$
—

4.05% Senior Notes due January 2020 (1)
52

 
—

 
—

 
52

4.10% Senior Notes due March 2022
213

 
(1
)
 
—

 
212

4.95% Senior Notes due January 2025 (1)
927

 
(7
)
 
(1
)
 
919

7.50% Senior Notes due April 2026
650

 
(8
)
 
—

 
642

7.75% Senior Notes due October 2027
500

 
(7
)
 
—

 
493

Total long-term debt
$
2,342

 
$
(23
)
 
$
(1
)
 
$
2,318


(1)
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.  As a result of these upgrades, interest rates decreased to 5.30% for the 2020 Notes and 6.20% for the 2025 Notes effective July 2018.  The first coupon payment to the bondholders at the lower interest rate was paid in January 2019.

(2)
At March 31, 2019 and December 31, 2018, unamortized issuance expense of $10 million and $11 million, respectively, associated with the 2018 revolving credit facility is classified as other long-term assets on the consolidated balance sheets.