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Debt and Credit Agreements (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Activity Related to Long-Term Debt

Total activity related to long-term debt as of the end of third quarter 2021 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 10, Fair Value Measurements.


(Dollars in millions)	Current Portion		Long-term Portion		Total
Long-term Debt as of December 31, 2020	$	401	$	16,304	$	16,705
2021 Activity:

Long-term Debt Repaid	(390)		—		(390)
Reclassifications	175		(175)		—
Finance Lease Obligations and Debt Assumed (a)	25		43		68
Discount, Premium and Other Activity	—		10		10

Long-term Debt as of September 30, 2021	$	211	$	16,182	$	16,393

(a) In third quarter 2021, finance lease obligations and debt were assumed related to the Company's acquisition of Quality Carriers on July 1, 2021. See Note 12, Business Combinations.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details