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Debt (Tables) | 9 Months Ended
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Sep. 30, 2018
Debt Disclosure [Abstract] |
Schedule of long-term debt | Our long-term debt consisted of the following as of September 30, 2018 and December 31, 2017:
| September 30, 2018 |  | December 31, 2017
| Principal Amount |  | Carrying Amount |  | Principal Amount |  | Carrying Amount
| ($ in millions)
7.25% senior notes due 2018 | $ | 44 |  |  | $ | 44 |  |  | $ | 44 |  |  | $ | 44 |
Floating rate senior notes due 2019 | 380 |  |  | 380 |  |  | 380 |  |  | 380 |
6.625% senior notes due 2020 | 437 |  |  | 437 |  |  | 437 |  |  | 437 |
6.875% senior notes due 2020 | 227 |  |  | 227 |  |  | 227 |  |  | 227 |
6.125% senior notes due 2021 | 548 |  |  | 548 |  |  | 548 |  |  | 548 |
5.375% senior notes due 2021 | 267 |  |  | 267 |  |  | 267 |  |  | 267 |
4.875% senior notes due 2022 | 451 |  |  | 451 |  |  | 451 |  |  | 451 |
8.00% senior secured second lien notes due 2022(a) | 1,416 |  |  | 1,823 |  |  | 1,416 |  |  | 1,895 |
5.75% senior notes due 2023 | 338 |  |  | 338 |  |  | 338 |  |  | 338 |
7.00% senior notes due 2024 | 850 |  |  | 850 |  |  | — |  |  | — |
8.00% senior notes due 2025 | 1,300 |  |  | 1,290 |  |  | 1,300 |  |  | 1,290 |
5.5% convertible senior notes due 2026(b)(c) | 1,250 |  |  | 859 |  |  | 1,250 |  |  | 837 |
7.5% senior notes due 2026 | 400 |  |  | 400 |  |  | — |  |  | — |
8.00% senior notes due 2027 | 1,300 |  |  | 1,298 |  |  | 1,300 |  |  | 1,298 |
2.25% contingent convertible senior notes due 2038(b) | 9 |  |  | 8 |  |  | 9 |  |  | 8 |
Term loan due 2021 | — |  |  | — |  |  | 1,233 |  |  | 1,233 |
Revolving credit facility | 645 |  |  | 645 |  |  | 781 |  |  | 781 |
Debt issuance costs | — |  |  | (54 | ) |  | — |  |  | (63 | )
Interest rate derivatives | — |  |  | 1 |  |  | — |  |  | 2 |
Total debt, net | 9,862 |  |  | 9,812 |  |  | 9,981 |  |  | 9,973 |
Less current maturities of long-term debt, net(d) | (433 | ) |  | (432 | ) |  | (53 | ) |  | (52 | )
Total long-term debt, net | $ | 9,429 |  |  | $ | 9,380 |  |  | $ | 9,928 |  |  | $ | 9,921 |
___________________________________________
(a) | On October 29, 2018, we delivered a notice of redemption to the trustee with respect to 100% of the aggregate principal amount of the outstanding senior secured second lien notes dues 2022.
(b) | We are required to account for the liability and equity components of our convertible debt instruments separately and to reflect interest expense through the first demand repurchase date, as applicable, at the interest rate of similar nonconvertible debt at the time of issuance. The applicable rates for our 2.25% Contingent Convertible Senior Notes due 2038 and our 5.5% Convertible Senior Notes due 2026 are 8.0% and 11.5%, respectively.
(c) | Prior to maturity under certain circumstances and at the holder’s option, the notes are convertible. During the Current Quarter, the price of our common stock was below the threshold level for conversion and, as a result, the holders do not have the option to convert their notes in the fourth quarter of 2018.
(d) | As of September 30, 2018, net current maturities of long-term debt includes our 7.25% Senior Notes due December 2018, our Floating Rate Senior Notes due April 2019, and due to the holders’ put option, our 2.25% Contingent Convertible Notes due December 2038.
Schedule of fair value of debt | Fair value is compared to the carrying value, excluding the impact of interest rate derivatives, in the table below:
|  | September 30, 2018 |  | December 31, 2017
|  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
|  |  |  | ($ in millions) |  |
Short-term debt (Level 1) |  | $ | 432 |  |  | $ | 433 |  |  | $ | 52 |  |  | $ | 53 |
Long-term debt (Level 1) |  | $ | 3,495 |  |  | $ | 3,546 |  |  | $ | 2,633 |  |  | $ | 2,629 |
Long-term debt (Level 2) |  | $ | 5,884 |  |  | $ | 6,010 |  |  | $ | 7,286 |  |  | $ | 7,301 |

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