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Long-Term Debt | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 7 — LONG-TERM DEBT A summary of long-term debt at June 30, 2023 and December 31, 2022, including related interest rates at June 30, 2023, follows (dollars in millions):
| June 30, 2023 |  |  | December 31, 2022 |
Senior secured asset-based revolving credit facility (effective interest rate of 6.4%) | $ | 1,060 |  |  | $ | 2,900 |
Senior secured revolving credit facility |  | — |  |  |  | — |
Senior secured term loan facilities (effective interest rate of 6.6%) |  | 1,350 |  |  |  | 1,880 |
Other senior secured debt (effective interest rate of 3.8%) |  | 969 |  |  |  | 953 |
Senior secured debt |  | 3,379 |  |  |  | 5,733 |
Senior unsecured notes (effective interest rate of 5.0%) |  | 35,902 |  |  |  | 32,652 |
Debt issuance costs and discounts |  | (349 | ) |  |  | (301 | )
Total debt (average life of 9.9 years, rates averaging 5.0%) |  | 38,932 |  |  |  | 38,084 |
Less amounts due within one year |  | 2,395 |  |  |  | 370 |
| $ | 36,537 |  |  | $ | 37,714 |
During January 2023, the availability under our senior secured revolving credit facility was increased by $1.500 billion to total $3.500 billion, the senior secured term loan B facility was fully retired and certain administrative updates were made to our credit agreements. During May 2023, we issued $3.250 billion aggregate principal amount of senior notes comprised of (i) $1.000 billion aggregate principal amount of 5.200% senior notes due 2028, (ii) $1.250 billion aggregate principal amount of 5.500% senior notes due 2033 and (iii) $1.000 billion aggregate principal amount of 5.900% senior notes due 2053. We used the net proceeds to repay borrowings under our asset-based revolving credit facility.

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