v3.24.1.u1
Long-term Debt and Finance Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Long-term Debt and Finance Leases
Long-term debt and finance leases consisted of the following:
(In millions, except rates)March 31, 2024December 31, 2023Interest rate %
Recourse debt:
Senior Notes, due 2027$375 $375 6.625
Senior Notes, due 2028821 821 5.750
Senior Notes, due 2029733 733 5.250
Senior Notes, due 2029500 500 3.375
Senior Notes, due 20311,030 1,030 3.625
Senior Notes, due 2032480 480 3.875
Convertible Senior Notes, due 2048(a)
483 575 2.750
Senior Secured First Lien Notes, due 2024600 600 3.750
Senior Secured First Lien Notes, due 2025500 500 2.000
Senior Secured First Lien Notes, due 2027900 900 2.450
Senior Secured First Lien Notes, due 2029500 500 4.450
Senior Secured First Lien Notes, due 2033740 740 7.000
Tax-exempt bonds466 466 
1.250 - 4.750
Subtotal recourse debt8,128 8,220 
Non-recourse debt:
Vivint Senior Notes, due 2029800 800 5.750
Vivint Senior Secured Notes, due 2027600 600 6.750
Vivint Senior Secured Term Loan, due 20281,316 1,320 
SOFR + 3.36
Subtotal all Vivint non-recourse debt2,716 2,720 
Subtotal long-term debt (including current maturities)
10,844 10,940 
Finance leases20 19 various
Subtotal long-term debt and finance leases (including current maturities)10,864 10,959 
Less current maturities(1,101)(620)
Less debt issuance costs(65)(60)
Discounts(139)(146)
Total long-term debt and finance leases$9,559 $10,133 
(a)As of the ex-dividend date of April 30, 2024, the Convertible Senior Notes were convertible at a price of $41.32, which is equivalent to a conversion rate of approximately 24.1998 shares of common stock per $1,000 principal amount
Schedule of Extinguishment of Debt For the three months ended March 31, 2024, a $58 million loss on debt extinguishment was recorded.
(In millions, except percentages)
Settlement PeriodPrincipal Repurchased
Cash Paid(a)
Average Repurchase Percentage
March 2024$92 $151 162.356%
April 2024251 452 179.454%
Total Repurchases$343 $603 
(a)Includes accrued interest of $1 million and $2 million for the March and April repurchases, respectively
Schedule of Debt Instrument, Interest Expense
The following table details the interest expense recorded in connection with the Convertible Senior Notes:
Three months ended March 31,
(In millions, except percentages)20242023
Contractual interest expense$4 $4 
Amortization of deferred finance costs— 1 
Total$4 $5 
Effective Interest Rate0.78 %0.77 %