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Senior Notes
 12 Months Ended
Dec. 31, 2022
Senior Notes [Abstract]  
Senior Notes
6.
 
SENIOR NOTES
The table
 
below
 
displays
 
Holdings’
 
outstanding
 
senior
 
notes.
 
Market
 
value
 
is
 
based
 
on
 
quoted
 
market
 
prices,
but due to limited trading activity,
 
these senior notes are considered Level 2 in the fair
 
value hierarchy.
December 31, 2022
December 31, 2021
Consolidated
Consolidated
Principal
Balance Sheet
Balance Sheet
(Dollars in millions)
Date Issued
Date Due
Amounts
 
Amount
Market Value
Amount
Market Value
4.868
% Senior notes
6/5/2014
6/1/2044
$
400
$
397
$
343
$
397
$
504
3.5
% Senior notes
10/7/2020
10/15/2050
1,000
981
677
980
1,055
3.125
% Senior notes
10/4/2021
10/15/2052
1,000
969
627
969
983
$
2,400
$
2,347
$
1,647
$
2,346
$
2,542
Interest expense incurred in
 
connection with these senior notes is as follows
 
for the periods indicated:
Years Ended December 31,
(Dollars in millions)
Interest Paid
Payable Dates
2022
2021
2020
4.868
% Senior Notes
semi-annually
June 1/December 1
$
19
$
19
$
19
3.5
% Senior Notes
semi-annually
April 15/October 15
35
35
8
3.125
% Senior Notes
semi-annually
April 15/October 15
32
8
-
$
86
$
62
$
28
(Some amounts may not reconcile due to rounding.)