Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

The following chart reflects our consolidated long-term debt, including finance leases and other obligations, unamortized discounts and premiums, net and unamortized debt issuance costs, but excluding intercompany debt:

	Interest Rates (1)	Maturities (1)	December 31, 2021		December 31, 2020
			(Dollars in millions)
Level 3 Financing, Inc.
Senior Secured Debt: (2)
Senior notes	3.400% - 3.875%	2027 - 2029	$	1,500	1,500
Tranche B 2027 Term Loan (3)	LIBOR + 1.75%	2027	3,111		3,111
Senior Notes and Other Debt:
Senior notes (4)	3.625% - 5.375%	2025 - 2029	5,515		5,515
Finance leases and other obligations	Various	Various	319		255
Unamortized premiums, net			34		60
Unamortized debt issuance costs			(57)		(54)
Total long-term debt			10,422		10,387
Less current maturities			(26)		(14)
Long-term debt, excluding current maturities			$	10,396	10,373

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(1)As of December 31, 2021.

(2)See the remainder of this Note for a description of certain parent and subsidiary guarantees and liens securing this debt.

(3)The Tranche B 2027 Term Loan had an interest rate of 1.854% and 1.897% as of December 31, 2021 and December 31, 2020, respectively.

(4)This debt is fully and unconditionally guaranteed by certain affiliates of Level 3 Financing, inc., including Level 3 Parent, LLC and Level 3 Communications, LLC.

Schedule of amount of gross interest expense, net of capitalized interest

The following table presents the amount of gross interest expense, net of capitalized interest:

	Years Ended December 31,
	2021		2020	2019
	(Dollars in millions)
Interest expense:
Gross interest expense	$	376	416	517
Capitalized interest	(15)		(23)	(15)
Total interest expense	$	361	393	502

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

Set forth below is the aggregate principal amount of our long-term debt as of December 31, 2021 (excluding unamortized premiums, net, unamortized debt issuance costs and intercompany debt) maturing during the following years:

	(Dollars in millions)
2022	$	26
2023	27
2024	32
2025	838
2026	811
2027 and thereafter	8,711
Total long-term debt	$	10,445