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FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of long-term debt

Principal amounts of debt obligations and principal amounts of debt obligations net of premiums, discounts and issuance costs consist of the following:

												September 30, 2022												December 31, 2021
(in millions)						Maturity						Principal Amount						Net of Premiums, Discounts and Issuance Costs						Principal Amount						Net of Premiums, Discounts and Issuance Costs
Senior Secured Credit Facilities:
2018 Restated Credit Agreement
2023 Revolving Credit Facility						June 2023						$	—					$	—					$	285					$	285
June 2025 Term Loan B Facility						June 2025						—						—						2,829						2,772
November 2025 Term Loan B Facility						November 2025						—						—						994						984
2022 Amended Credit Agreement
2027 Revolving Credit Facility						February 2027						450						450						—						—
February 2027 Term Loan B Facility						February 2027						2,469						2,419						—						—
B+L Credit Facilities
B+L Revolving Credit Facility						May 2027						—						—						—						—
B+L Term Facility						May 2027						2,494						2,442						—						—
Senior Secured Notes:
5.50% Secured Notes						November 2025						1,750						1,741						1,750						1,739
6.125% Secured Notes						February 2027						1,000						986						—						—
5.75% Secured Notes						August 2027						500						496						500						495
4.875% Secured Notes						June 2028						1,600						1,582						1,600						1,580
11.00% First Lien Secured Notes						September 2028						1,774						2,826						—						—
14.00% Second Lien Secured Notes						October 2030						352						711						—						—
9.00% Intermediate Holdco Secured Notes						January 2028						999						1,423						—						—
Senior Unsecured Notes:
6.125%						April 2025						—						—						2,650						2,640
9.00%						December 2025						959						950						1,500						1,482
9.25%						April 2026						748						743						1,500						1,489
8.50%						January 2027						651						652						1,750						1,754
7.00%						January 2028						208						207						750						743
5.00%						January 2028						466						462						1,250						1,238
6.25%						February 2029						866						857						1,500						1,483
5.00%						February 2029						463						459						1,000						990
7.25%						May 2029						372						369						750						742
5.25%						January 2030						869						861						1,250						1,237
5.25%						February 2031						572						567						1,000						989
Other						Various						12						12						12						12
Total long-term debt												$	19,574					21,215						$	22,870					22,654
Less: Current portion of long-term debt																		411												—
Non-current portion of long-term debt																		$	20,804											$	22,654

Schedule of aggregate principal amounts of debt validly tendered and subsequently accepted

The aggregate principal amounts of the Existing Unsecured Senior Notes that were validly tendered and accepted by the Company in the Exchange Offer are set forth below:

(in millions)
9.00% Senior Notes due 2025						$	541
9.25% Senior Notes due 2026						752
8.50% Senior Notes due 2027						1,099
7.00% Senior Notes due 2028						540
5.00% Senior Notes due 2028						710
7.25% Senior Notes due 2029						373
6.25% Senior Notes due 2029						540
5.00% Senior Notes due 2029						371
5.25% Senior Notes due 2030						332
5.25% Senior Notes due 2031						336
Total						$	5,594

Schedule of long-term debt maturities

Maturities of debt obligations for the remainder of 2022, the five succeeding years ending December 31 and thereafter are as follows:

(in millions)
Remainder of 2022			$	38
2023			150
2024			150
2025			2,859
2026			898
2027			6,926
Thereafter			8,553
Total debt obligations			19,574
Unamortized premiums, discounts and issuance costs			1,641
Total long-term debt and other			$	21,215

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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Tabular disclosure of troubled debt restructuring which results when the debtor restructures the terms of its debt with a creditor due to the debtor's financial difficulties and the creditor grants certain concessions to obtain payment it might not otherwise receive. Includes a description of the principal changes in terms, the major features of settlement for each restructuring, the aggregate gain on restructuring and the related income tax effect, the per share amount of the total gain on restructuring, net of related income tax effect, and the total gain (loss) on transfers of assets recognized during the period. After the troubled debt restructuring has occurred debtors discuss the extent and amount to which amounts contingently payable are included in the carrying amount of restructured payables, and the conditions under which those amounts would become payable or would be forgiven when there is at least a reasonable possibility that a liability for contingent payments will be incurred.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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