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Long-Term Debt
 6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Long-Term Debt
(7) Long-Term Debt

Debt Balance, Net of Current Maturities and Unamortized Issuance Costs
 
June 30, 2018
 
December 31, 2017
 
(in millions)
6.5% Senior Notes due 2022 (a)
$
500

 
$
500

9.25% Senior Secured Notes due 2023 (b)
645

 
645

6.5% Senior Notes due 2021 (b)
2

 
2

Capital lease obligations
44

 
45

Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations
1,191

 
1,192

Less:
 
 
 
Unamortized debt issuance cost and debt discount
(24
)
 
(26
)
Current portion of capital lease obligations
(2
)
 
(2
)
Long-term debt, net of current portion
$
1,165

 
$
1,164


 
(a)
The estimated fair value of total long-term debt outstanding was approximately $510 million as of June 30, 2018.

(b)
The estimated fair value of total long-term debt outstanding was approximately $667 million as of June 30, 2018.

 
 
 
 
 
 
 
 
 
 
 
Total Capacity
 
Amount Borrowed as of June 30, 2018
 
Outstanding Letters of Credit
 
Available Capacity as of June 30, 2018
 
Maturity Date
 
 
Amended and Restated Asset Based (ABL) Credit Facility (c)
$
400

 
$
—

 
$
6

 
$
394

 
November 14, 2022
Asset Based (ABL) Credit Facility (d)
50

 
—

 
—

 
50

 
September 30, 2021
 
(c)
Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.
(d)
Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter's excess availability.

The Company is in compliance with all covenants of the ABL credit facilities and the senior notes as of June 30, 2018.