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Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Debt Disclosure [Abstract] |
Revolving credit facilities | The following table summarizes the revolving credit agreements as of December 31, 2019:
| TDS |  | U.S. Cellular
(Dollars in millions) |  |  |
Maximum borrowing capacity | $ | 400 |  |  | $ | 300 |
Letters of credit outstanding | $ | 1 |  |  | $ | 2 |
Amount borrowed | $ | — |  |  | $ | — |
Amount available for use | $ | 399 |  |  | $ | 298 |
Financial covenants | The revolving credit agreements include the following financial covenants:
▪ | Consolidated Interest Coverage Ratio may not be less than 3.00 to 1.00 as of the end of any fiscal quarter.
▪ | Consolidated Leverage Ratio may not be greater than the ratios indicated as of the end of any fiscal quarter for each period specified below:
| Period | Ratios |
| From the agreement date of May 10, 2018 through June 30, 2019 | 3.25 to 1.00 |
| From July 1, 2019 and thereafter | 3.00 to 1.00 |
Long-term debt | Long-term debt as of December 31, 2019 and 2018, was as follows:
|  |  |  |  |  |  |  | December 31, 2019 |  | December 31, 2018
|  | Issuance date |  | Maturity date |  | Call date (any time on or after) |  | Principal Amount |  | Less Unamortized discounts and debt issuance costs |  | Total |  | Principal Amount |  | Less Unamortized discount and debt issuance costs |  | Total
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TDS Unsecured Senior Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
6.625% |  | Mar 2005 |  | Mar 2045 |  | Mar 2010 |  | $ | 116 |  |  | $ | 3 |  |  | $ | 113 |  |  | $ | 116 |  |  | $ | 3 |  |  | $ | 113 |
6.875% |  | Nov 2010 |  | Nov 2059 |  | Nov 2015 |  | 225 |  |  | 7 |  |  | 218 |  |  | 225 |  |  | 7 |  |  | 218 |
7.000% |  | Mar 2011 |  | Mar 2060 |  | Mar 2016 |  | 300 |  |  | 9 |  |  | 291 |  |  | 300 |  |  | 9 |  |  | 291 |
5.875% |  | Dec 2012 |  | Dec 2061 |  | Dec 2017 |  | 195 |  |  | 7 |  |  | 188 |  |  | 195 |  |  | 7 |  |  | 188 |
U.S. Cellular Unsecured Senior Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |
6.700% |  | Dec 2003 and June 2004 |  | Dec 2033 |  | Dec 2003 and June 2004 |  | $ | 544 |  |  | $ | 13 |  |  | $ | 531 |  |  | $ | 544 |  |  | $ | 14 |  |  | $ | 530 |
6.950% |  | May 2011 |  | May 2060 |  | May 2016 |  | 342 |  |  | 11 |  |  | 331 |  |  | 342 |  |  | 11 |  |  | 331 |
7.250% |  | Dec 2014 |  | Dec 2063 |  | Dec 2019 |  | 275 |  |  | 10 |  |  | 265 |  |  | 275 |  |  | 10 |  |  | 265 |
7.250% |  | Nov 2015 |  | Dec 2064 |  | Dec 2020 |  | 300 |  |  | 10 |  |  | 290 |  |  | 300 |  |  | 10 |  |  | 290 |
Term Loan |  | Jul 2015 |  | Jan 2022 |  |  |  | 83 |  |  | 1 |  |  | 82 |  |  | 191 |  |  | 1 |  |  | 190 |
Finance lease obligations |  |  |  |  |  | 8 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | 6 |
Installment payment agreement |  |  |  |  |  | 8 |  |  | 1 |  |  | 7 |  |  | 15 |  |  | 1 |  |  | 14 |
Other long-term notes |  |  |  | Through 2021 |  |  |  | 2 |  |  | — |  |  | 2 |  |  | 3 |  |  | — |  |  | 3 |
Total long-term debt |  |  |  |  |  |  |  | $ | 2,398 |  |  | $ | 72 |  |  | $ | 2,326 |  |  | $ | 2,512 |  |  | $ | 73 |  |  | $ | 2,439 |
Long-term debt, current |  |  |  |  |  |  |  |  |  | $ | 10 |  |  |  |  |  |  | $ | 21 |
Long-term debt, noncurrent |  |  |  |  |  |  |  |  |  | $ | 2,316 |  |  |  |  |  |  | $ | 2,418 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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