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Debt (Table) | 12 Months Ended
--- | ---
Dec. 31, 2021
Debt Disclosure [Abstract] |
Revolving credit facilities | The following table summarizes the revolving credit agreement as of December 31, 2021:
(Dollars in millions) |
Maximum borrowing capacity | $ | 300 |
Letters of credit outstanding | $ | — |
Amount borrowed | $ | — |
Amount available for use | $ | 300 |
The following table summarizes the term loan credit agreements as of December 31, 2021:
(Dollars in millions) |
Maximum borrowing capacity | $ | 800 |
Amount borrowed and outstanding | $ | 299 |
Amount borrowed and repaid | $ | 1 |
Amount available for use | $ | 500 |
Long-term debt | Long-term debt as of December 31, 2021 and 2020, was as follows:
|  |  |  |  | December 31, 2021 |  | December 31, 2020
| Issuance date | Redemption 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) |  |  |  |  |  |  |  |  |  |  |  |
Unsecured Senior Notes |  |  |  |  |  |  |  |  |  |  |  |
6.700% | Dec 2003 and June 2004 |  | Dec 2033 | Dec 2003 and June 2004 | $ | 544 |  |  | $ | 12 |  |  | $ | 532 |  |  | $ | 544 |  |  | $ | 13 |  |  | $ | 531 |
6.950% | May 2011 | Sep 2021 | May 2060 | May 2016 | — |  |  | — |  |  | — |  |  | 342 |  |  | 11 |  |  | 331 |
7.250% | Dec 2014 | May 2021 | Dec 2063 | Dec 2019 | — |  |  | — |  |  | — |  |  | 275 |  |  | 10 |  |  | 265 |
7.250% | Nov 2015 | Jun 2021 | Dec 2064 | Dec 2020 | — |  |  | — |  |  | — |  |  | 300 |  |  | 10 |  |  | 290 |
6.250% | Aug 2020 |  | Sep 2069 | Sep 2025 | 500 |  |  | 17 |  |  | 483 |  |  | 500 |  |  | 17 |  |  | 483 |
5.500% | Dec 2020 |  | Mar 2070 | Mar 2026 | 500 |  |  | 17 |  |  | 483 |  |  | 500 |  |  | 17 |  |  | 483 |
5.500% | May 2021 |  | Jun 2070 | Jun 2026 | 500 |  |  | 16 |  |  | 484 |  |  | — |  |  | — |  |  | — |
Term Loan |  |  |  |  | 299 |  |  | 3 |  |  | 296 |  |  | 83 |  |  | 3 |  |  | 80 |
EIP Securitization |  |  |  | 450 |  |  | — |  |  | 450 |  |  | 25 |  |  | — |  |  | 25 |
Finance lease obligations |  | 3 |  |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  | 3 |
Total long-term debt |  | $ | 2,796 |  |  | $ | 65 |  |  | $ | 2,731 |  |  | $ | 2,572 |  |  | $ | 81 |  |  | $ | 2,491 |
Long-term debt, current |  |  |  |  |  | $ | 3 |  |  |  |  |  |  | $ | 2 |
Long-term debt, noncurrent |  |  |  |  |  | $ | 2,728 |  |  |  |  |  |  | $ | 2,489 |

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