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v3.22.1

Long-term Debt and Finance Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Debt Disclosure [Abstract] |
Long-term Debt and Finance Leases | Long-term debt and finance leases consisted of the following:
(In millions, except rates) | March 31, 2022 |  | December 31, 2021 |  | Interest rate %
Recourse debt: |  |  |  |  |
Senior Notes, due 2027 | $ | 375 |  |  | $ | 375 |  |  | 6.625
Senior Notes, due 2028 | 821 |  |  | 821 |  |  | 5.750
Senior Notes, due 2029 | 733 |  |  | 733 |  |  | 5.250
Senior Notes, due 2029 | 500 |  |  | 500 |  |  | 3.375
Senior Notes, due 2031 | 1,030 |  |  | 1,030 |  |  | 3.625
Senior Notes, due 2032 | 1,100 |  |  | 1,100 |  |  | 3.875
Convertible Senior Notes, due 2048(a) | 575 |  |  | 575 |  |  | 2.750
Senior Secured First Lien Notes, due 2024 | 600 |  |  | 600 |  |  | 3.750
Senior Secured First Lien Notes, due 2025 | 500 |  |  | 500 |  |  | 2.000
Senior Secured First Lien Notes, due 2027 | 900 |  |  | 900 |  |  | 2.450
Senior Secured First Lien Notes, due 2029 | 500 |  |  | 500 |  |  | 4.450
Tax-exempt bonds | 466 |  |  | 466 |  |  | 1.250 - 4.750
Subtotal recourse debt | 8,100 |  |  | 8,100 |  |  |
Finance leases | 13 |  |  | 13 |  |  | various
Subtotal long-term debt and finance leases (including current maturities) | 8,113 |  |  | 8,113 |  |  |
Less current maturities | (4) |  |  | (4) |  |  |
Less debt issuance costs | (81) |  |  | (83) |  |  |
Discounts | (2) |  |  | (60) |  |  |
Total long-term debt and finance leases | $ | 8,026 |  |  | $ | 7,966 |  |  |
(a)As of the ex-dividend date of April 29, 2022, the Convertible Senior Notes were convertible at a price of 44.15, which is equivalent to a conversion rate of approximately 22.6516 shares of common stock per $1,000 principal amount.
Schedule of Debt Instrument, Interest Expense | The following table details the interest expense recorded in connection with the Convertible Senior Notes, due 2048:
($ In millions) | For the three months ended March 31, 2022 |  | For the three months ended March 31, 2021
Contractual interest expense | $ | 4 |  |  | $ | 4 |
Amortization of discount and deferred finance costs | — |  |  | 4 |
Total | $ | 4 |  |  | $ | 8 |
Effective Interest Rate | 0.76 | % |  | 1.32 | %

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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