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Long-term Debt and Finance Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Long-term Debt and Finance Leases | Long-term debt and finance leases consisted of the following:
(In millions, except rates) | September 30, 2023 |  | December 31, 2022 |  | 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
Senior Secured First Lien Notes, due 2033 | 740 |  |  | — |  |  | 7.000
Revolving Credit Facility | 300 |  |  | — |  |  | various
Tax-exempt bonds | 466 |  |  | 466 |  |  | 1.250 - 4.750
Subtotal recourse debt | 9,140 |  |  | 8,100 |  |  |
Non-recourse debt: |  |  |  |  |
Vivint Smart Home Senior Secured Notes, due 2027 | 600 |  |  | — |  |  | 6.750
Vivint Smart Home Senior Notes, due 2029 | 800 |  |  | — |  |  | 5.750
Vivint Smart Home Senior Secured Term Loan, due 2028 | 1,323 |  |  | — |  |  | various
Subtotal all Vivint Smart Home non-recourse debt | 2,723 |  |  | — |  |  |
Subtotal long-term debt (including current maturities) | 11,863 |  |  | 8,100 |  |  |
Finance leases | 19 |  |  | 11 |  |  | various
Subtotal long-term debt and finance leases (including current maturities) | 11,882 |  |  | 8,111 |  |  |
Less current maturities | (920) |  |  | (63) |  |  |
Less debt issuance costs | (70) |  |  | (70) |  |  |
Discounts | (151) |  |  | (2) |  |  |
Total long-term debt and finance leases | $ | 10,741 |  |  | $ | 7,976 |  |  |
(a)As of the ex-dividend date of October 31, 2023, the Convertible Senior Notes were convertible at a price of $41.83, which is equivalent to a conversion rate of approximately 23.9079 shares of common stock per $1,000 principal amount
Schedule of Debt Instrument, Interest Expense | The following table details the interest expense recorded in connection with the Convertible Senior Notes, due 2048:
| Three months ended September 30, |  | Nine months ended September 30,
($ In millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Contractual interest expense | $ | 4 |  |  | $ | 4 |  |  | $ | 12 |  |  | $ | 12 |
Amortization of deferred finance costs | — |  |  | — |  |  | 1 |  |  | 1 |
Total | $ | 4 |  |  | $ | 4 |  |  | $ | 13 |  |  | $ | 13 |
Effective Interest Rate | 0.76 | % |  | 0.76 | % |  | 2.28 | % |  | 2.28 | %

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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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