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Long-Term Debt | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 8 — LONG-TERM DEBT A summary of long-term debt at September 30, 2021 and December 31, 2020, including related interest rates at September 30, 2021, follows (dollars in millions):
|  | September 30, 2021 |  |  | December 31, 2020 |
Senior secured asset-based revolving credit facility (effective interest rate of 2.7%) |  | $ | 500 |  |  | $ | — |
Senior secured revolving credit facility |  |  | — |  |  |  | — |
Senior secured term loan facilities (effective interest rate of 3.1%) |  |  | 1,980 |  |  |  | 3,671 |
Senior secured notes (effective interest rate of 4.8%) |  |  | 16,200 |  |  |  | 13,850 |
Other senior secured debt (effective interest rate of 4.2%) |  |  | 920 |  |  |  | 767 |
Senior secured debt |  |  | 19,600 |  |  |  | 18,288 |
Senior unsecured notes (effective interest rate of 5.5%) |  |  | 12,952 |  |  |  | 12,952 |
Debt issuance costs and discounts |  |  | (253 | ) |  |  | (236 | )
Total debt (average life of 9.5 years, rates averaging 4.9%) |  |  | 32,299 |  |  |  | 31,004 |
Less amounts due within one year |  |  | 250 |  |  |  | 209 |
|  | $ | 32,049 |  |  | $ | 30,795 |
During June 2021, we issued $2.350 billion aggregate principal amount of senior secured notes comprised of $850 million aggregate principal amount of 2 3/8% notes due 2031 and $1.500 billion aggregate principal amount of 3 1/2% notes due 2051 (the “June 2021 Notes”). We also amended and restated our senior secured revolving credit facility and our senior secured asset-based revolving credit facility, including increasing availability under the asset-based revolving credit facility to $4.500 billion, extending the maturity date on both facilities to June 30, 2026 and entering into a new $1.500 billion term loan A-7 facility and a new $500 million term loan B-14 facility (the “Credit Agreement Transactions”). We used the net proceeds from the June 2021 Notes and the Credit Agreement Transactions to retire the $1.071 billion term loan A-6 facility, the $1.455 billion term loan B-12 facility and the $1.131 billion term loan B-13 facility. The pretax loss on retirement of debt was $12 million.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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