Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

The following table summarizes our long-term debt:

	Interest Rates	Maturities	June 30, 2019			December 31, 2018
			(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
Finance leases	Various	Various	162			163
Total long-term debt, excluding unamortized premiums			10,688			10,689
Unamortized premiums, net			139			155
Total long-term debt			10,827			10,844
Less current maturities			(7		)	(6	)
Long-term debt, excluding current maturities			$	10,820		10,838

(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 4.652% as of June 30, 2019 and 4.754% as of December 31, 2018. The interest rate on the Tranche B 2024 Term Loan is set with a minimum London Interbank Offered Rate ("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 finance leases (excluding unamortized premiums) maturing during the following years as of June 30, 2019:

	(Dollars in millions)
2019 (remaining six months)	$	4
2020	6
2021	648
2022	1,609
2023	1,209
2024 and thereafter	7,212
Total long-term debt	$	10,688