Liquidity Considerations

We are a highly-leveraged company and had $7.2 billion in face value of debt outstanding as of June 30, 2015. As a result, a significant portion of our liquidity needs are for debt service, including significant interest payments. Our estimated consolidated debt service obligation for the remainder of 2015 is $337 million, consisting of $47 million in principal maturities and $290 million in required interest payments. Our estimated consolidated debt service obligation for 2016 is $773 million, consisting of $202 million in principal maturities and $571 million in required interest payments.

Consolidated cash and cash equivalents, excluding restricted cash, as of June 30, 2015 as shown in the table below, includes amounts held by CERP, CGP, and CES, which are not readily available to CEC.

Cash and Available Revolver Capacity

	June 30, 2015
(In millions)	CERP			CES		CGP			Parent
Cash and cash equivalents	$	206		$	99	$	891		$	383
Revolver capacity	270			—		160			—
Revolver capacity drawn or committed to letters of credit	(95		)	—		(60		)	—
Total	$	381		$	99	$	991		$	383

Future Maturities of Long-Term Debt

(In millions)	2015		2016		2017		2018		2019		Thereafter		Total
CERP	$	20	$	131	$	27	$	25	$	25	$	4,500	$	4,728
CGP	27		71		23		27		203		2,085		2,436
Total	$	47	$	202	$	50	$	52	$	228	$	6,585	$	7,164

Future Estimated Interest Payments

(In millions)	2015		2016		2017		2018		2019		Thereafter		Total
CERP	$	195	$	384	$	395	$	405	$	412	$	497	$	2,288
CGP	95		187		190		198		202		330		1,202
Total	$	290	$	571	$	585	$	603	$	614	$	827	$	3,490

See Note 12, “Debt,” for details of our debt outstanding and related restrictive covenants, including the restrictions on our subsidiaries to pay dividends to CEC or otherwise transfer cash to CEC. This detail includes, among other information, a table presenting details of our individual borrowings outstanding as of June 30, 2015 and December 31, 2014, as well as discussion of recent changes in our debt outstanding, and changes in the terms of existing debt subsequent to June 30, 2015.