XML 40 R27.htm IDEA: XBRL DOCUMENT v3.23.3
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of long-term debt
The following table 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)
September 30, 2023December 31, 2022
(Dollars in millions)
Level 3 Financing, Inc.
Senior Secured Debt: (2)
Senior notes
3.400% - 10.500%
2027 - 2030
$2,425 1,500 
Tranche B 2027 Term Loan (3)
SOFR + 1.75%
2027
2,411 2,411 
Senior Notes and other debt:
Senior notes (4)
3.625% - 4.625%
2027 - 2029
3,940 3,940 
Finance leases and other obligations(5)
VariousVarious266 291 
Unamortized premiums, net3 3 
Unamortized debt issuance costs(56)(49)
Total long-term debt8,989 8,096 
Less current maturities(29)(26)
Long-term debt, excluding current maturities$8,960 8,070 
______________________________________________________________________
(1)As of September 30, 2023.
(2)See Note 7—Long-Term Debt in our Annual Report on Form 10-K for the year ended December 31, 2022 for a description of certain affiliate guarantees and liens securing this debt.
(3)The Tranche B 2027 Term Loan had an interest rate of 7.181% and 6.134% as of September 30, 2023 and December 31, 2022, respectively.
(4)See Note 7—Long-Term Debt in our Annual Report on Form 10-K for the year ended December 31, 2022 for a description of guarantees provided by certain affiliates of Level 3 Financing, Inc.
(5)Excludes finance lease obligations of our EMEA business classified as held for sale.
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 as of September 30, 2023 (excluding unamortized premiums, net, unamortized debt issuance costs, and intercompany debt), maturing during the following years:
(Dollars in millions)
2023 (remaining three months)$9 
202430 
202537 
202635 
20274,180 
2028 and thereafter4,751 
Total long-term debt$9,042