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DEBT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term debt

As of March 31, 2020 and December 31, 2019, our long-term debt consisted of the following credit agreements, Second Lien Notes and Senior Notes:

	Outstanding Principal								Interest Rate		Maturity		Security
	March 31, 2020				December 31, 2019
Credit Agreements	(in millions)
2014 Revolving Credit Facility	$	507			$	518			LIBOR plus 3.25%-4.00% ABR plus 2.25%-3.00%		June 30, 2021		Shared First-Priority Lien
2017 Credit Agreement	1,300				1,300				LIBOR plus 4.75% ABR plus 3.75%		December 31, 2022(a)		Shared First-Priority Lien
2016 Credit Agreement	1,000				1,000				LIBOR plus 10.375% ABR plus 9.375%		December 31, 2021		First-Priority Lien
Second Lien Notes
Second Lien Notes	1,809				1,815				8%		December 15, 2022(b)		Second-Priority Lien
Senior Notes
5% Senior Notes due 2020	—				100				5%		January 15, 2020		Unsecured
5½% Senior Notes due 2021	100				100				5.5%		September 15, 2021		Unsecured
6% Senior Notes due 2024	144				144				6%		November 15, 2024		Unsecured
Total Long-Term Debt	$	4,860			$	4,977

Note: For a detailed description of our credit agreements, Second Lien Notes and Senior Notes, please see our most recent Form 10-K for the year ended December 31, 2019.

(a) The 2017 Credit Agreement is subject to a springing maturity of 91 days prior to the maturity of our 2016 Credit Agreement if more than $100 million in principal of the 2016 Credit Agreement is outstanding at that time.

(b) The Second Lien Notes require principal repayments of $286 million in June 2021, $57 million in December 2021, $60 million in June 2022 and $1,406 million in December 2022.

Schedule of Net Deferred Gain and Issuance Costs

As of March 31, 2020 and December 31, 2019, net deferred gain and issuance costs consisted of the following:

	March 31, 2020				December 31, 2019
	(in millions)
Deferred gain	$	193			$	211
Issuance costs and original issue discounts	(58		)		(65		)
Net deferred gain and issuance costs	$	135			$	146

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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.

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