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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Credit facilities | The following table summarizes the revolving credit agreements as of December 31, 2023:
| TDS |  | UScellular
(Dollars in millions) |  |  |
Maximum borrowing capacity | $ | 400 |  |  | $ | 300 |
Letters of credit outstanding | $ | 1 |  |  | $ | — |
Amount borrowed | $ | 100 |  |  | $ | — |
Amount available for use | $ | 299 |  |  | $ | 300 |
The following tables summarizes the term loan credit agreements as of December 31, 2023:
TDS: | Term Loan 1 | Term Loan 2 | Total
(Dollars in millions) |  |  |
Maximum borrowing capacity | $ | 200 |  | $ | 300 |  | $ | 500 |
Amount borrowed and outstanding | $ | 196 |  | $ | 296 |  | $ | 492 |
Amount borrowed and repaid | $ | 4 |  | $ | 4 |  | $ | 8 |
Amount available for use | $ | — |  | $ | — |  | $ | — |
Interest rate | SOFR plus 2.10% | SOFR plus 2.60% |
Maturity date | July 2028 | July 2031 |
Quarterly installments | $0.5 million from December 2021 to maturity date | $0.75 million from December 2022 to September 2026; $2 million from December 2026 to maturity date |
UScellular: | Term Loan 1 | Term Loan 2 | Term Loan 3 | Total
(Dollars in millions) |  |  |  |
Maximum borrowing capacity | $ | 300 |  | $ | 300 |  | $ | 200 |  | $ | 800 |
Amount borrowed and outstanding | $ | 292 |  | $ | 293 |  | $ | 198 |  | $ | 783 |
Amount borrowed and repaid | $ | 8 |  | $ | 7 |  | $ | 2 |  | $ | 17 |
Amount available for use | $ | — |  | $ | — |  | $ | — |  | $ | — |
Interest rate | SOFR plus 1.60% | SOFR plus 2.10% | SOFR plus 2.60% |
Maturity date | July 2026 | July 2028 | July 2031 |
Quarterly installments | $2 million from March 2023 to December 2023; $4 million from March 2024 to December 2025; $8 million from March 2026 to maturity date | $0.75 million from December 2021 to maturity date | $0.5 million from December 2022 to September 2026; $1 million from December 2026 to maturity date |
Long-term debt | Long-term debt as of December 31, 2023 and 2022, was as follows:
|  |  |  | December 31, 2023 |  | December 31, 2022
| Issuance date | Maturity date | Call date (any time on or after) | Principal Amount |  | Less Unamortized discount and debt issuance costs |  | Total |  | Principal Amount |  | Less Unamortized discount and debt issuance costs |  | Total
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |
UScellular Unsecured Senior Notes |  |  |  |  |  |  |  |  |  |  |  |
6.70% | Dec 2003 and June 2004 | Dec 2033 | Dec 2003 and June 2004 | $ | 544 |  |  | $ | 11 |  |  | $ | 533 |  |  | $ | 544 |  |  | $ | 11 |  |  | $ | 533 |
6.25% | Aug 2020 | Sep 2069 | Sep 2025 | 500 |  |  | 17 |  |  | 483 |  |  | 500 |  |  | 17 |  |  | 483 |
5.50% | Dec 2020 | Mar 2070 | Mar 2026 | 500 |  |  | 17 |  |  | 483 |  |  | 500 |  |  | 17 |  |  | 483 |
5.50% | May 2021 | Jun 2070 | Jun 2026 | 500 |  |  | 16 |  |  | 484 |  |  | 500 |  |  | 16 |  |  | 484 |
UScellular Term Loans |  | 783 |  |  | 4 |  |  | 779 |  |  | 796 |  |  | 6 |  |  | 790 |
TDS Term Loans |  | 492 |  |  | 4 |  |  | 488 |  |  | 497 |  |  | 4 |  |  | 493 |
TDS Secured Term Loan |  |  |  | 300 |  |  | 3 |  |  | 297 |  |  | — |  |  | — |  |  | — |
UScellular EIP Securitization |  | 150 |  |  | — |  |  | 150 |  |  | 275 |  |  | — |  |  | 275 |
TDS Export Credit Financing |  |  | 150 |  |  | — |  |  | 150 |  |  | 50 |  |  | — |  |  | 50 |
UScellular Export Credit Financing |  |  | 150 |  |  | 1 |  |  | 149 |  |  | 150 |  |  | 1 |  |  | 149 |
TDS Revolving Credit |  |  |  | 100 |  |  | — |  |  | 100 |  |  | — |  |  | — |  |  | — |
Finance lease obligations |  | 6 |  |  | — |  |  | 6 |  |  | 7 |  |  | — |  |  | 7 |
Other long-term notes |  | 4 |  |  | — |  |  | 4 |  |  | 3 |  |  | — |  |  | 3 |
Total long-term debt |  | $ | 4,179 |  |  | $ | 73 |  |  | $ | 4,106 |  |  | $ | 3,822 |  |  | $ | 72 |  |  | $ | 3,750 |
Long-term debt, current |  |  |  |  |  | $ | 26 |  |  |  |  |  |  | $ | 19 |
Long-term debt, noncurrent |  |  |  |  |  | $ | 4,080 |  |  |  |  |  |  | $ | 3,731 |

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