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Long-Term Debt | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 7 — LONG-TERM DEBT A summary of long-term debt at March 31, 2024 and December 31, 2023, including related interest rates at March 31, 2024 follows (dollars in millions):
| March 31, 2024 |  |  | December 31, 2023 |
Senior secured asset-based revolving credit facility | $ | — |  |  | $ | 1,880 |
Senior secured revolving credit facility |  | — |  |  |  | — |
Senior secured term loan facilities (effective interest rate of 6.8%) |  | 1,294 |  |  |  | 1,313 |
Other senior secured debt (effective interest rate of 4.1%) |  | 1,012 |  |  |  | 967 |
Senior secured debt |  | 2,306 |  |  |  | 4,160 |
Senior unsecured notes (effective interest rate of 5.1%) |  | 38,266 |  |  |  | 35,766 |
Debt issuance costs and discounts |  | (381 | ) |  |  | (333 | )
Total debt (average life of 11.2 years, rates averaging 5.1%) |  | 40,191 |  |  |  | 39,593 |
Less amounts due within one year |  | 3,028 |  |  |  | 2,424 |
| $ | 37,163 |  |  | $ | 37,169 |
During February 2024, we issued $4.500 billion aggregate principal amount of senior notes comprised of (i) $1.000 billion aggregate principal amount of 5.450% senior notes due 2031, (ii) $1.300 billion aggregate principal amount of 5.600% senior notes due 2034, (iii) $1.500 billion aggregate principal amount of 6.000% senior notes due 2054 and (iv) $700 million aggregate principal amount of 6.100% senior notes due 2064. We used the net proceeds to repay borrowings under our asset-based revolving credit facility and for general corporate purposes. During March 2024, we repaid all of the $2.000 billion aggregate principal amount of 5.000% senior notes due 2024 at maturity.

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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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