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Long-Term Debt
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Long-Term Debt
NOTE 8 — LONG-TERM DEBT
A summary of long-term debt at March 31, 2021 and December 31, 2020, including related interest rates at March 31, 2021, follows (dollars in millions):
 
 
 
March 31,

2021
 
 
December 31,

2020
 
Senior secured asset-based revolving credit facility (effective interest rate of 1.4%)
 
$
80
 
 
$
—
 
Senior secured revolving credit facility
 
 
—
 
 
 
—
 
Senior secured term loan facilities (effective interest rate of 2.8%)
 
 
3,657
 
 
 
3,671
 
Senior secured notes (effective interest rate of 5.1%)
 
 
13,850
 
 
 
13,850
 
Other senior secured debt (effective interest rate of 4.6%)
 
 
762
 
 
 
767
 
Senior secured debt
 
 
18,349
 
 
 
18,288
 
Senior unsecured notes (effective interest rate of 5.5%)
 
 
12,952
 
 
 
12,952
 
Debt issuance costs and discounts
 
 
(229
) 
 
 
(236
) 
Total debt (average life of 8.6 years, rates averaging 5.0%)
 
 
31,072
 
 
 
31,004
 
Less amounts due within one year
 
 
234
 
 
 
209
 
 
 
$
30,838
 
 
$
30,795