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Long-Term Debt | 3 Months Ended
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Mar. 31, 2014
Debt Disclosure [Abstract] |
Debt Disclosure | Long-Term Debt Long-term debt consisted of the following:
| March 31, |  | December 31, |
(in millions) | 2014 |  | 2013 |
3.125% Senior Secured Notes due 2019, net of original issue discount | $ | 399 |  | — |
7.5% Senior Secured Notes due 2019, net of original issue discount | 761 |  | 761 |
7.375% Senior Secured Notes due 2020 | 500 |  | 500 |
5.125% Senior Secured Notes due 2022 | 500 |  | 500 |
4.375% Senior Secured Notes due 2023, net of original issue discount | 750 |  | 750 |
4.85% Senior Secured Notes due 2024, net of original issue discount | 600 |  | — |
5.95% Senior Secured Notes due 2043, net of original issue discount | 300 |  | 300 |
Senior secured credit facility | 124 |  | 922 |
Capital lease obligations | 76 |  | 80 |
Total debt | 4,010 |  | 3,813 |
Less current portion | (12 | ) | (13 | )
Long-term portion of debt and capital lease obligations | $ | 3,998 |  | 3,800 |
Senior Secured Notes On March 18, 2014, QVC issued $400 million principal amount of 3.125% Senior Secured Notes due 2019 at an issue price of 99.828% and $600 million principal amount of 4.850% Senior Secured Notes due 2024 at an issue price of 99.927% (collectively, the “Notes”). The Notes are secured by a first-priority lien on the capital stock of QVC, which is the same collateral that secures QVC's existing secured indebtedness and certain future indebtedness. The net proceeds from the offerings were used to repay indebtedness under QVC’s senior secured credit facility and for working capital and other general corporate purposes. Interest is payable semi-annually. Senior Secured Credit Facility QVC had approximately $1.9 billion available under the terms of the senior secured credit facility at March 31, 2014. The interest rate on the senior secured credit facility was 1.9% at March 31, 2014. Other Debt Related Information QVC was in compliance with all of its debt covenants at March 31, 2014. During the quarter, there were no significant changes to QVC's debt credit ratings. The weighted average rate applicable to all of the outstanding debt (excluding capital leases) was 5.4% as of March 31, 2014.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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