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Total Debt (Notes) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Total Debt | Total Debt A summary of our debt as of September 30, 2023 and December 31, 2022 is as follows:
|  |  | September 30, 2023 |  |  |  | December 31, 2022
|  |  | Principal Amount |  | Carrying Value |  | Fair Value |  |  |  | Principal Amount |  | Carrying Value |  | Fair Value
Senior unsecured notes |  |  | $ | 27,250 |  |  | $ | 27,165 |  |  | $ | 23,083 |  |  |  |  | $ | 26,650 |  |  | $ | 26,567 |  |  | $ | 22,426 |
Senior secured notes and debentures(a) |  |  | 55,855 |  |  | 56,201 |  |  | 44,541 |  |  |  |  | 56,841 |  |  | 57,213 |  |  | 46,905 |
Credit facilities(b) |  |  | 14,483 |  |  | 14,433 |  |  | 14,175 |  |  |  |  | 13,877 |  |  | 13,823 |  |  | 13,467 |
|  |  | $ | 97,588 |  |  | $ | 97,799 |  |  | $ | 81,799 |  |  |  |  | $ | 97,368 |  |  | $ | 97,603 |  |  | $ | 82,798 |
(a)Includes the Company's £625 million fixed-rate British pound sterling denominated notes (the “Sterling Notes”) (remeasured at $762 million and $755 million as of September 30, 2023 and December 31, 2022, respectively, using the exchange rate at the respective dates) and the Company's £650 million aggregate principal amount of Sterling Notes (remeasured at $793 million and $786 million as of September 30, 2023 and December 31, 2022, respectively, using the exchange rate at the respective dates). (b)The Company has availability under the Charter Operating credit facilities of approximately $3.3 billion as of September 30, 2023. The estimated fair value of the Company’s senior unsecured and secured notes and debentures as of September 30, 2023 and December 31, 2022 is based on quoted market prices in active markets and is classified within Level 1 of the valuation hierarchy, while the estimated fair value of the Company’s credit facilities is based on quoted market prices in inactive markets and is classified within Level 2. In February 2023, CCO Holdings, LLC ("CCO Holdings") and CCO Holdings Capital Corp. jointly issued $1.1 billion of 7.375% senior unsecured notes due March 2031 at par. The net proceeds were used for general corporate purposes, including repaying certain indebtedness, funding buybacks of Charter Class A common stock and Charter Holdings common units and to pay related fees and expenses. In February 2023, Charter Operating entered into an amendment to its credit agreement to replace London Interbank Offering Rate ("LIBOR") as the benchmark rate applicable to the Term B loans with Secured Overnight Financing Rate ("SOFR") and in March 2023, Charter Operating entered into another amendment to its credit agreement to incur a new Term B-3 loan with an aggregate principal amount of $750 million maturing in 2030 concurrently with the cancelation of certain of Charter Operating's existing Term B-1 and B-2 loans, among other amendments. Pricing on the new Term B-3 loan is SOFR plus 2.25%. After giving effect to the amendments, the aggregate principal amount of Term B-1 loans is $2.3 billion with pricing unchanged at SOFR plus 1.75% and the aggregate principal amount of Term B-2 loans is $3.1 billion with pricing unchanged at SOFR plus 1.75%. As of July 1, 2023, the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, ceased publishing remaining U.S. Dollar LIBOR rates. The Charter Operating senior secured floating rate notes due 2024 (the "Floating Rate Notes") used LIBOR as a benchmark for establishing the interest rate of the Floating Rate Notes. As of July 1, 2023, SOFR is being used as the benchmark replacement for calculations of the amount of interest payable on the Floating Rate Notes with respect to interest periods with interest determination dates occurring after June 30, 2023. Losses on extinguishment of debt are recorded in other income (expenses), net in the consolidated statements of operations and for the nine months ended September 30, 2022 was $3 million as a result of the Charter Operating credit facility refinancing and Charter Operating notes redemption.

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