XML 32 R15.htm IDEA: XBRL DOCUMENT
v3.20.1

Long-Term Debt (Notes) | 3 Months Ended
--- | ---
Mar. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt consists of the following:
|  | March 31, 2020 |  | December 31, 2019
|  | Principal Amount |  | Unamortized Discount and Debt Issuance Costs |  | Net Long-term Debt |  | Principal Amount |  | Unamortized Discount and Debt Issuance Costs |  | Net Long-term Debt
Revolving credit facility |  | $ | 1,000 |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
3.60% senior notes due 2022 (the "3.60% 2022 Senior Notes") |  | 250 |  |  | (1 | ) |  | 249 |  |  | 250 |  |  | (1 | ) |  | 249 |
3.60% senior notes due 2026 (the "3.60% 2026 Senior Notes") |  | 750 |  |  | (7 | ) |  | 743 |  |  | 750 |  |  | (8 | ) |  | 742 |
Loan related to tax-exempt waste disposal revenue bonds due 2027 |  | 11 |  |  | — |  |  | 11 |  |  | 11 |  |  | — |  |  | 11 |
6 ½% senior notes due 2029 (the "6 ½% 2029 GO Zone Senior Notes") |  | 100 |  |  | (1 | ) |  | 99 |  |  | 100 |  |  | (1 | ) |  | 99 |
6 ½% senior notes due 2035 (the "6 ½% 2035 GO Zone Senior Notes") |  | 89 |  |  | (1 | ) |  | 88 |  |  | 89 |  |  | (1 | ) |  | 88 |
6 ½% senior notes due 2035 (the "6 ½% 2035 IKE Zone Senior Notes") |  | 65 |  |  | — |  |  | 65 |  |  | 65 |  |  | — |  |  | 65 |
5.0% senior notes due 2046 (the "5.0% 2046 Senior Notes") |  | 700 |  |  | (23 | ) |  | 677 |  |  | 700 |  |  | (23 | ) |  | 677 |
4.375% senior notes due 2047 (the "4.375% 2047 Senior Notes") |  | 500 |  |  | (9 | ) |  | 491 |  |  | 500 |  |  | (9 | ) |  | 491 |
3.50% senior notes due 2032 (the "3.50% 2032 GO Zone Refunding Senior Notes") |  | 250 |  |  | (1 | ) |  | 249 |  |  | 250 |  |  | (1 | ) |  | 249 |
1.625% senior notes due 2029 (the "1.625% 2029 Senior Notes") |  | 770 |  |  | (10 | ) |  | 760 |  |  | 785 |  |  | (11 | ) |  | 774 |
Total Long-term debt |  | $ | 4,485 |  |  | $ | (53 | ) |  | $ | 4,432 |  |  | $ | 3,500 |  |  | $ | (55 | ) |  | $ | 3,445 |
Credit Agreement The Company has a $1,000 revolving credit facility that is scheduled to mature on July 24, 2023 (the "Credit Agreement"). On March 20, 2020, the Company borrowed $1,000 under the Credit Agreement. The Credit Agreement bears interest at either (a) LIBOR plus a spread ranging from 1.00% to 1.75% or (b) Alternate Base Rate plus a spread ranging from 0.00% to 0.75% in each case depending on the credit rating of the Company. As of March 31, 2020, the Company had $1,000 of borrowings outstanding under the Credit Agreement. The interest rate on the outstanding revolving credit facility was 2.25% at March 31, 2020. As of March 31, 2020, the Company had no outstanding letters of credit and no borrowing availability (absent an exercise of the accordion feature) under the Credit Agreement. The Credit Agreement contains certain affirmative and negative covenants, including a quarterly total leverage ratio financial maintenance covenant. As of March 31, 2020, the Company was in compliance with the total leverage ratio financial maintenance covenant. The Credit Agreement also contains certain events of default and if and for so long as certain events of default have occurred and are continuing, any overdue amounts outstanding under the Credit Agreement will accrue interest at an increased rate, the lenders can terminate their commitments thereunder and payments of any outstanding amounts could be accelerated by the lenders. The Credit Agreement includes a $150 sub-limit for letters of credit, and any outstanding letters of credit will be deducted from availability under the facility. The Credit Agreement also provides for a discretionary $50 commitment for swingline loans to be provided on a same-day basis. The Company may also increase the size of the facility, in increments of at least $25, up to a maximum of $500, subject to certain conditions and if certain lenders agree to commit to such an increase. As of March 31, 2020, the Company was in compliance with all of its long-term debt covenants. Unamortized debt issuance costs on long-term debt were $29 and $30 at March 31, 2020 and December 31, 2019, respectively.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration