v3.19.2

Debt (Tables) | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Schedule of long-term debt instruments | Our debt at June 30, 2019 and December 31, 2018, was as follows (in millions):
| June 30, 2019 |  | December 31, 2018
Senior Unsecured Notes | $ | 2,990 |  |  | $ | 3,036 |
First Lien Term Loans | 2,979 |  |  | 2,976 |
First Lien Notes | 2,402 |  |  | 2,400 |
Project financing, notes payable and other | 1,229 |  |  | 1,264 |
CCFC Term Loan | 971 |  |  | 974 |
Finance lease obligations | 78 |  |  | 105 |
Corporate Revolving Facility | 75 |  |  | 30 |
Subtotal | 10,724 |  |  | 10,785 |
Less: Current maturities | 263 |  |  | 637 |
Total long-term debt | $ | 10,461 |  |  | $ | 10,148 |
Senior Unsecured Notes | The amounts outstanding under our Senior Unsecured Notes are summarized in the table below (in millions):
| June 30, 2019 |  | December 31, 2018
2023 Senior Unsecured Notes | $ | 1,228 |  |  | $ | 1,227 |
2024 Senior Unsecured Notes | 589 |  |  | 599 |
2025 Senior Unsecured Notes | 1,173 |  |  | 1,210 |
Total Senior Unsecured Notes | $ | 2,990 |  |  | $ | 3,036 |
First Lien Term Loans | The amounts outstanding under our senior secured First Lien Term Loans are summarized in the table below (in millions):
| June 30, 2019 |  | December 31, 2018
2019 First Lien Term Loan | $ | — |  |  | $ | 389 |
2023 First Lien Term Loans | 535 |  |  | 1,059 |
2024 First Lien Term Loan | 1,522 |  |  | 1,528 |
2026 First Lien Term Loan | 922 |  |  | — |
Total First Lien Term Loans | $ | 2,979 |  |  | $ | 2,976 |
First Lien Notes | The amounts outstanding under our senior secured First Lien Notes are summarized in the table below (in millions):
| June 30, 2019 |  | December 31, 2018
2022 First Lien Notes | $ | 744 |  |  | $ | 743 |
2024 First Lien Notes | 487 |  |  | 486 |
2026 First Lien Notes | 1,171 |  |  | 1,171 |
Total First Lien Notes | $ | 2,402 |  |  | $ | 2,400 |
Schedule of line of credit facilities | The table below represents amounts issued under our letter of credit facilities at June 30, 2019 and December 31, 2018 (in millions):
| June 30, 2019 |  | December 31, 2018
Corporate Revolving Facility(1) | $ | 585 |  |  | $ | 693 |
CDHI(2) | 30 |  |  | 251 |
Various project financing facilities | 227 |  |  | 228 |
Other corporate facilities(3) | 293 |  |  | 193 |
Total | $ | 1,135 |  |  | $ | 1,365 |
____________
(1) | The Corporate Revolving Facility represents our primary revolving facility. On April 5, 2019, we amended our Corporate Revolving Facility to increase the capacity by approximately $330 million from $1.69 billion to approximately $2.02 billion.
(2) | Pursuant to the terms and conditions of the CDHI credit agreement, the capacity under the CDHI letter of credit facility was reduced to $125 million on June 28, 2019. The decrease in capacity did not have a material effect on our liquidity as alternative sources of liquidity are available.
(3) | We have three unsecured letter of credit facilities with two third-party financial institutions totaling approximately $300 million at June 30, 2019.
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 June 30, 2019 and December 31, 2018 (in millions):
| June 30, 2019 |  | December 31, 2018
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
Senior Unsecured Notes | $ | 3,011 |  |  | $ | 2,990 |  |  | $ | 2,803 |  |  | $ | 3,036 |
First Lien Term Loans | 3,013 |  |  | 2,979 |  |  | 2,877 |  |  | 2,976 |
First Lien Notes | 2,462 |  |  | 2,402 |  |  | 2,299 |  |  | 2,400 |
Project financing, notes payable and other(1) | 1,136 |  |  | 1,153 |  |  | 1,209 |  |  | 1,188 |
CCFC Term Loan | 980 |  |  | 971 |  |  | 938 |  |  | 974 |
Corporate Revolving Facility | 75 |  |  | 75 |  |  | 30 |  |  | 30 |
Total | $ | 10,677 |  |  | $ | 10,570 |  |  | $ | 10,156 |  |  | $ | 10,604 |
____________
(1) | Excludes an agreement that is accounted for as a failed sale-leaseback transaction under U.S. GAAP.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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