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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

A summary of long-term debt at December 31, including related interest rates at December 31, 2022, follows (dollars in millions):

 

 

 

2022

 

 

2021

 

Senior secured asset-based revolving credit facility (effective interest rate of 5.6%)

 

$

2,900

 

 

$

2,780

 

Senior secured revolving credit facility

 

 

 

 

 

 

Senior secured term loan facilities (effective interest rate of 5.9%)

 

 

1,880

 

 

 

1,960

 

Senior secured notes

 

 

 

 

 

16,200

 

Other senior secured debt (effective interest rate of 3.9%)

 

 

953

 

 

 

935

 

Senior secured debt

 

 

5,733

 

 

 

21,875

 

Senior unsecured notes (effective interest rate of 4.9%)

 

 

32,652

 

 

 

12,952

 

Debt issuance costs and discounts

 

 

(301

)

 

 

(248

)

Total debt (average life of 9.6 years, rates averaging 5.0%)

 

 

38,084

 

 

 

34,579

 

Less amounts due within one year

 

 

370

 

 

 

237

 

 

 

$

37,714

 

 

$

34,342