v3.8.0.1

Debt (Tables) | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Schedule of long-term debt instruments | Our debt at September 30, 2017 and December 31, 2016, was as follows (in millions):
| September 30, 2017 |  | December 31, 2016
Senior Unsecured Notes | $ | 3,415 |  |  | $ | 3,412 |
First Lien Term Loans | 3,152 |  |  | 3,165 |
First Lien Notes | 1,843 |  |  | 2,290 |
Project financing, notes payable and other | 1,575 |  |  | 1,597 |
CCFC Term Loans | 1,544 |  |  | 1,553 |
Capital lease obligations | 121 |  |  | 162 |
Subtotal | 11,650 |  |  | 12,179 |
Less: Current maturities | 369 |  |  | 748 |
Total long-term debt | $ | 11,281 |  |  | $ | 11,431 |
Senior Unsecured Notes | The amounts outstanding under our Senior Unsecured Notes are summarized in the table below (in millions):
| September 30, 2017 |  | December 31, 2016
2023 Senior Unsecured Notes | $ | 1,238 |  |  | $ | 1,237 |
2024 Senior Unsecured Notes | 643 |  |  | 643 |
2025 Senior Unsecured Notes | 1,534 |  |  | 1,532 |
Total Senior Unsecured Notes | $ | 3,415 |  |  | $ | 3,412 |
First Lien Term Loans | The amounts outstanding under our senior secured First Lien Term Loans are summarized in the table below (in millions):
| September 30, 2017 |  | December 31, 2016
2017 First Lien Term Loan(1) | $ | 149 |  |  | $ | 537 |
2019 First Lien Term Loan | 389 |  |  | — |
2023 First Lien Term Loans | 1,067 |  |  | 1,071 |
2024 First Lien Term Loan | 1,547 |  |  | 1,557 |
Total First Lien Term Loans | $ | 3,152 |  |  | $ | 3,165 |
____________
(1) | For the nine months ended September 30, 2017, we used cash on hand to repay $400 million of our outstanding 2017 First Lien Term Loan. We recorded approximately $1 million and $4 million in debt extinguishment costs for the three and nine months ended September 30, 2017, related to the partial repayment of our 2017 First Lien Term Loan.
First Lien Notes | The amounts outstanding under our senior secured First Lien Notes are summarized in the table below (in millions):
| September 30, 2017 |  | December 31, 2016
2022 First Lien Notes | $ | 741 |  |  | $ | 739 |
2023 First Lien Notes(1) | — |  |  | 450 |
2024 First Lien Notes | 485 |  |  | 485 |
2026 First Lien Notes | 617 |  |  | 616 |
Total First Lien Notes | $ | 1,843 |  |  | $ | 2,290 |
____________
(1) | On March 6, 2017, we used cash on hand along with the proceeds from our 2019 First Lien Term Loan to redeem the remaining $453 million of our 2023 First Lien Notes, plus accrued and unpaid interest. During the first quarter of 2017, we recorded approximately $21 million in debt extinguishment costs related to the redemption of our 2023 First Lien Notes.
Schedule of line of credit facilities | The table below represents amounts issued under our letter of credit facilities at September 30, 2017 and December 31, 2016 (in millions):
| September 30, 2017 |  | December 31, 2016
Corporate Revolving Facility(1) | $ | 474 |  |  | $ | 535 |
CDHI | 246 |  |  | 250 |
Various project financing facilities | 230 |  |  | 206 |
Total | $ | 950 |  |  | $ | 991 |
____________
(1) | The Corporate Revolving Facility represents our primary revolving facility.
Schedule of carrying values and estimated fair values of debt instruments | The following table details the fair values and carrying values of our debt instruments at September 30, 2017 and December 31, 2016 (in millions):
| September 30, 2017 |  | December 31, 2016
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
Senior Unsecured Notes | $ | 3,307 |  |  | $ | 3,415 |  |  | $ | 3,343 |  |  | $ | 3,412 |
First Lien Term Loans | 3,202 |  |  | 3,152 |  |  | 3,244 |  |  | 3,165 |
First Lien Notes | 1,905 |  |  | 1,843 |  |  | 2,349 |  |  | 2,290 |
Project financing, notes payable and other(1) | 1,516 |  |  | 1,484 |  |  | 1,543 |  |  | 1,506 |
CCFC Term Loans | 1,554 |  |  | 1,544 |  |  | 1,567 |  |  | 1,553 |
Total | $ | 11,484 |  |  | $ | 11,438 |  |  | $ | 12,046 |  |  | $ | 11,926 |
____________
(1) | Excludes a lease that is accounted for as a failed sale-leaseback transaction under U.S. GAAP.

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