Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of long-term debt

The following table summarizes our long-term debt:

	Interest Rates	Maturities	March 31, 2018			December 31, 2017
			(Dollars in millions)
Level 3 Parent, LLC
Senior notes(1)	5.750%	2022	$	600		600
Subsidiaries
Level 3 Financing, Inc.
Senior notes(2)	5.125% - 6.125%	2021 - 2026	5,315			5,315
Term loan(3)	LIBOR + 2.25%	2024	4,611			4,611
Capital Leases	Various	Various	177			179
Total long-term debt, excluding unamortized premiums			10,703			10,705
Unamortized premiums, net			178			185
Total long-term debt			10,881			10,890
Less current maturities			(9		)	(8		)
Long-term debt, excluding current maturities			$	10,872		$	10,882

⁽¹⁾ The notes are not guaranteed by any of Level 3 Parent, LLC's subsidiaries.

⁽²⁾ The notes are fully and unconditionally guaranteed on an unsubordinated unsecured basis by Level 3 Parent, LLC and Level 3 Communications, LLC.    

⁽³⁾ The Tranche B 2024 Term Loan is a secured obligation and is guaranteed by Level 3 Parent, LLC and certain other subsidiaries. The Tranche B 2024 Term Loan had an interest rate of 4.111% as of March 31, 2018 and 3.557% as of December 31, 2017. The interest rate on the Tranche B 2024 Term Loan is set with a minimum LIBOR of zero percent.

Schedule of aggregate future contractual maturities of long-term debt and capital leases (excluding discounts)

Set forth below is the aggregate principal amount of our long-term debt and capital leases (excluding unamortized premiums) maturing during the following years:

	(Dollars in millions)
2018 (remaining nine months)	$	9
2019	8
2020	10
2021	651
2022	1,726
2023 and thereafter	8,299
Total long-term debt	$	10,703