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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of long-term debt |
(in millions) | December 31, 2018 |  | December 31, 2017
CVR Partners: |  |  |
9.25% Senior Secured Notes due June 2023 (a) | $ | 645 |  |  | $ | 645 |
6.50% Senior Notes due April 2021 | 2 |  |  | 2 |
Unamortized discount and debt issuance costs | (18 | ) |  | (22 | )
Total CVR Partners Debt | $ | 629 |  |  | $ | 625 |
CVR Refining: |  |  |
6.50% Senior Notes due November 2022 (b) | $ | 500 |  |  | $ | 500 |
Capital lease obligations | 44 |  |  | 45 |
Unamortized debt issuance cost | (3 | ) |  | (4 | )
Current portion of capital lease obligations | (3 | ) |  | (2 | )
Total CVR Refining Debt | $ | 538 |  |  | $ | 539 |
Total Long-Term Debt | $ | 1,167 |  |  | $ | 1,164 |
(a) | This debt was issued at a $16 million discount which is being amortized, as interest expense, over the remaining term of the debt. Debt issuance costs associated with this debt totaled $9 million.
(b) | Debt issuance costs associated with this debt totaled $9 million. On January 29, 2019, the 2022 Senior Notes were amended such that CVR Refining was replaced by CVR Energy Inc. as the primary guarantor, on a senior unsecured basis, of the 2022 Senior Notes. The CVR Energy Inc. guarantee is full and unconditional and joint and several. See Note 15 ("Guarantor") for further discussion and implications of this change to guarantor.
Credit Facilities
(in millions) | Total Capacity |  | Amount Borrowed as of December 31, 2018 |  | Outstanding Letters of Credit |  | Available Capacity as of December 31, 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 Amended and Restated ABL 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 ABL 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.
Schedule of future payments required under capital lease | Future payments required under these capital lease at December 31, 2018 are as follows:
Year Ending December 31, | Capital Lease
(in millions) |
2019 - 2023 (annually $7 million) | $ | 35 |
Thereafter | 37 |
Total future payments | 72 |
Less: amount representing interest | 28 |
Present value of future minimum payments | 44 |
Less: current portion | 3 |
Long-term portion | $ | 41 |

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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 future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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