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Basis Of Presentation Financial Instruments - Fair Value Indebtedness Table (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Feb. 28, 2018
Long-term debt principal amount $ 4,078    
Secured Debt | Term Loan B      
Long-term debt principal amount 1,053 [1] $ 1,058 $ 1,080
Long-term debt fair value [2] 963 1,048  
Secured Debt | Term Loan A      
Long-term debt principal amount 703 [3] 717 $ 750
Long-term debt fair value [2] 650 705  
Secured Debt | 7.625% Senior Secured Second Lien Notes      
Long-term debt principal amount 550 0  
Long-term debt fair value [2] 549 0  
Senior Notes | 5.25% Senior Notes      
Long-term debt principal amount 0 550  
Long-term debt fair value [2] 0 557  
Senior Notes | 4.875% Senior Notes      
Long-term debt principal amount 407 407  
Long-term debt fair value [2] 383 401  
Senior Notes | 9.375% Senior Notes      
Long-term debt principal amount 550 550  
Long-term debt fair value [2] 513 572  
Line of Credit | Revolving Credit Facility      
Line of credit facility outstanding 815 [4],[5] 190  
Line of credit facility fair value [2] $ 815 $ 190  
[1] The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).
[2] The fair value of the Company's indebtedness is categorized as Level II.
[3] The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.
[4] In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.
[5] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.