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Long-Term Debt
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Long-Term Debt
NOTE 8 — LONG-TERM DEBT
 
A summary of long-term debt at March 31, 2019 and December 31, 2018, including related interest rates at March 31, 2019, follows (dollars in millions):
                 
 
March 31,
2019
   
December 31,
2018
 
Senior secured asset-based revolving credit facility (effective interest rate of 3.7%)
 
$
3,500
    $
3,040
 
Senior secured revolving credit facility
   
—
     
—
 
Senior secured term loan facilities (effective interest rate of 3.7%)
   
3,776
     
3,801
 
Senior secured notes (effective interest rate of 5.6%)
   
13,800
     
13,800
 
Other senior secured debt (effective interest rate of 5.5%)
   
657
     
585
 
                 
Senior secured debt
   
21,733
     
21,226
 
Senior unsecured notes (effective interest rate of 6.3%)
   
13,252
     
11,752
 
Net debt issuance costs
   
(170
)
   
(157
 )
                 
Total debt (average life of 6.3 years, rates averaging 5.4%)
   
34,815
     
32,821
 
Less amounts due within one year
   
3,796
     
788
 
                 
 
$
31,019
    $
32,033
 
                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
During January 2019, we issued $1.500 billion aggregate principal amount of senior unsecured notes comprised of $1.000 billion aggregate principal amount of 5.875% notes due 2029 and $500 million aggregate principal amount of 5.625% notes due 2028. We used the net proceeds to fund the purchase of a
seven-hospital
health system located in western North Carolina.