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Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt

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

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

		Principal amount							Carrying amount
		September 30,			December 31,				September 30,			December 31,
		2018			2017				2018			2017
Eksportfinans Loan due January 2018		$	—		$	26			$	—		$	26
6.50% Senior Notes due November 2020			286			286				288			288
6.375% Senior Notes due December 2021			328			328				327			327
5.52% Senior Secured Notes due May 2022			303			362				299			356
3.80% Senior Notes due October 2022			411			506				408			502
0.50% Exchangeable Bonds due January 2023			863			—				862			—
9.00% Senior Notes due July 2023			1,250			1,250				1,220			1,216
5.875% Senior Secured Notes due January 2024			750			—				734			—
7.75% Senior Secured Notes due October 2024			510			540				498			526
6.25% Senior Secured Notes due December 2024			531			562				520			549
6.125% Senior Secured Notes due August 2025			600			—				587			—
7.50% Senior Notes due January 2026			750			750				742			742
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				307			307
Capital lease contract due August 2029			519			541				519			541
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			9,434			7,484				9,327			7,396
Less debt due within one year
Eksportfinans Loan due January 2018			—			26				—			26
5.52% Senior Secured Notes due May 2022			83			79				81			77
5.875% Senior Secured Notes due January 2024			83			—				79			—
7.75% Senior Secured Notes due October 2024			60			60				58			57
6.25% Senior Secured Notes due December 2024			62			62				60			60
6.125% Senior Secured Notes due August 2025			66			—				63			—
Capital lease contract due August 2029			31			30				31			30
Total debt due within one year			385			257				372			250
Total long-term debt		$	9,049		$	7,227			$	8,955		$	7,146

Scheduled maturities of debt

		Total
Twelve months ending September 30,
2019		$	385
2020			392
2021			685
2022			681
2023			2,838
Thereafter			4,453
Total principal amount of debt			9,434
Total debt-related balances, net			(107)
Total carrying amount of debt		$	9,327

Schedule of debt repurchases and redemptions

During the nine months ended September 30, 2018 and 2017, we repurchased in the open market debt securities with aggregate principal amounts as follows (in millions):

		Nine months ended
		September 30,
			2018			2017
2.50% Senior Notes due October 2017		$	—		$	62
6.00% Senior Notes due March 2018			—			35
7.375% Senior Notes due April 2018			—			1
6.50% Senior Notes due November 2020			—			9
6.375% Senior Notes due December 2021			—			7
3.80% Senior Notes due October 2022			95			33
Aggregate principal amount retired		$	95		$	147
Aggregate cash payment		$	95		$	147

Schedule of tender offers

We received valid tenders from holders of aggregate principal amounts of the 2017 Tendered Notes as follows (in million):

		Nine months
		ended
		September 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			128
6.50% Senior Notes due November 2020			207
6.375% Senior Notes due December 2021			213
Aggregate principal amount retired		$	1,219
Aggregate cash payment		$	1,269

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