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Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt

Debt, net of unamortized discounts, premiums and fair value adjustments

he aggregate principal amounts and aggregate carrying amounts, net of debt‑related balances, including unamortized discounts, premiums and issue costs, of our debt were as follows (in millions):

		Principal amount							Carrying amount
		June 30,			December 31,				June 30,			December 31,
		2017			2016				2017			2016
2.50% Senior Notes due October 2017		$	152		$	485			$	152		$	484
Eksportfinans Loans due January 2018			76			123				76			123
6.00% Senior Notes due March 2018			319			754				320			757
7.375% Senior Notes due April 2018			83			211				83			211
6.50% Senior Notes due November 2020			296			508				299			513
6.375% Senior Notes due December 2021			334			552				332			549
5.52% Senior Secured Notes due May 2022			410			—				403			—
3.80% Senior Notes due October 2022			506			539				501			534
9.00% Senior Notes due July 2023			1,250			1,250				1,214			1,211
7.75% Senior Secured Notes due October 2024			570			600				555			583
6.25% Senior Secured Notes due December 2024			594			625				579			609
7.45% Notes due April 2027			88			88				86			86
8.00% Debentures due April 2027			57			57				57			57
7.00% Notes due June 2028			300			300				308			308
Capital lease contract due August 2029			552			566				552			566
7.50% Notes due April 2031			588			588				585			585
6.80% Senior Notes due March 2038			1,000			1,000				991			991
7.35% Senior Notes due December 2041			300			300				297			297
Total debt			7,475			8,546				7,390			8,464
Less debt due within one year
2.50% Senior Notes due October 2017			152			485				152			484
Eksportfinans Loans due January 2018			76			98				76			98
6.00% Senior Notes due March 2018			319			—				320			—
7.375% Senior Notes due April 2018			83			—				83			—
6.50% Senior Notes due November 2020			4			—				4			—
6.375% Senior Notes due December 2021			2			—				2			—
5.52% Senior Secured Notes due May 2022			87			—				85			—
7.75% Senior Secured Notes due October 2024			60			60				57			57
6.25% Senior Secured Notes due December 2024			63			63				60			60
Capital lease contract due August 2029			26			25				26			25
Total debt due within one year			872			731				865			724
Total long-term debt		$	6,603		$	7,815			$	6,525		$	7,740

Schedule of debt repurchases and redemptions

During the six months ended June 30, 2017 and 2016, we repurchased in the open market debt securities with aggregate principal amounts as follows (in millions):

		Six months ended
		June 30,
			2017			2016
5.05% Senior Notes due December 2016		$	—		$	36
2.50% Senior Notes due October 2017			62			38
6.00% Senior Notes due March 2018			35			20
7.375% Senior Notes due April 2018			1			26
6.50% Senior Notes due November 2020			9			13
6.375% Senior Notes due December 2021			7			44
3.80% Senior Notes due October 2022			33			38
7.45% Notes due April 2027			—			8
7.50% Notes due April 2031			—			5
Aggregate principal amount retired		$	147		$	228
Aggregate cash payment		$	147		$	189

Schedule of tender offers

As of June 26, 2017, the early tender date, we received valid tenders from holders of aggregate principal amounts of the 2017 Tendered Notes as follows (in millions):

		Six months
		ended
		June 30,
		2017
2.50% Senior Notes due October 2017		$	271
6.00% Senior Notes due March 2018			400
7.375% Senior Notes due April 2018			127
6.50% Senior Notes due November 2020			203
6.375% Senior Notes due December 2021			211
Aggregate principal amount retired		$	1,212
Aggregate cash payment		$	1,261

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7516071&loc=d3e13374-112631

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