Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

The following table summarizes our long-term debt:

	Interest Rates	Maturities	September 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)	4.625%-6.125%	2021 - 2027	5,915			5,315
Term loan (3)	LIBOR + 2.25%	2024	4,611			4,611
Finance leases	Various	Various	160			163
Total long-term debt, excluding unamortized premiums			11,286			10,689
Unamortized premiums, net			129			155
Unamortized debt issuance costs			(13		)	—
Total long-term debt			11,402			10,844
Less current maturities			(407		)	(6	)
Long-term debt, excluding current maturities			$	10,995		10,838

(1) The notes are not guaranteed by any of Level 3 Parent, LLC's subsidiaries. See "Additional Information" within this Note for redemption

details.

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

Communications, LLC. See "Subsequent Events" within this Note for redemption details.    

(3) The Tranche B 2024 Term Loan is a secured obligation and is guaranteed by Level 3 Parent, LLC and certain of its subsidiaries. The Tranche

B 2024 Term Loan had an interest rate of 4.294% as of September 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 September 30, 2019:

	(Dollars in millions)
2019 (remaining three months)	$	403
2020	6
2021	7
2022	1,449
2023	1,210
2024 and thereafter	8,211
Total long-term debt	$	11,286