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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of Long-term Debt

			September 30, 2022																								December 31, 2021
(Dollars in millions)			Final Maturity						Rates						Face Value						Book Value						Book Value
Secured Debt
CRC Revolving Credit Facility (a)			2022						variable						$	—					$	—					$	—
Baltimore Revolving Credit Facility			2023						variable						—						—						—
Baltimore Term Loan			2024						variable						277						272						275
CRC Term Loan			2024						variable						4,377						4,136						4,190
CEI Revolving Credit Facility			2025						variable						—						—						—
CRC Incremental Term Loan			2025						variable						1,009						975						1,705
CRC Senior Secured Notes			2025						5.750%						989						977						985
CEI Senior Secured Notes			2025						6.250%						3,400						3,357						3,346
Convention Center Mortgage Loan			2025						8.011%						400						400						399
Unsecured Debt
CEI Senior Notes			2027						8.125%						1,611						1,588						1,673
Senior Notes			2029						4.625%						1,200						1,185						1,183
Special Improvement District Bonds			2037						4.300%						47						47						49
Long-term notes and other payables															2						2						2
Total debt															13,312						12,939						13,807
Current portion of long-term debt															(70)						(70)						(70)
Deferred finance charges associated with the CEI Revolving Credit Facility															—						(12)						(15)
Long-term debt															$	13,242					$	12,857					$	13,722
Unamortized discounts and deferred finance charges																					$	385					$	531
Fair value															$	12,691

____________________

(a)On October 5, 2022, in connection with the amendment to the CEI Credit Agreement, the Company terminated the CRC Revolving Credit Facility. See “Subsequent Amendment to the CEI Credit Agreement” below.

Schedule of Maturities of Long-term Debt

Annual Estimated Debt Service Requirements as of September 30, 2022
			Remaining						Years Ended December 31,
(In millions)			2022						2023						2024						2025						2026						Thereafter						Total
Annual maturities of long-term debt			$	18					$	70					$	4,611					$	5,760					$	3					$	2,850					$	13,312
Estimated interest payments			140						910						850						520						190						310						2,920
Total debt service obligation (a)			$	158					$	980					$	5,461					$	6,280					$	193					$	3,160					$	16,232

____________________

(a)Debt principal and interest payments are estimated amounts based on contractual maturity and scheduled repayment dates. Interest payments are estimated based on the forward-looking LIBOR curve, where applicable, and include the estimated impact of the four interest rate swap agreements related to our CRC Credit Agreement (see Note 7). Actual payments may differ from these estimates.

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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.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

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