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Basis Of Presentation Financial Instruments - Fair Value Indebtedness Table (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Long-term debt principal amount $ 2,550  
Secured Debt | Term Loan A Facility    
Long-term debt principal amount 0 $ 206
Long-term debt fair value [1] 0 205
Secured Debt | 7.00% Senior Secured Second Lien Notes    
Long-term debt principal amount 640 640
Long-term debt fair value [1] 593 590
Senior Notes | 5.75% Senior Notes    
Long-term debt principal amount 558 [2] 576
Long-term debt fair value [1] 465 448
Senior Notes | 5.25% Senior Notes    
Long-term debt principal amount 449 [2] 457
Long-term debt fair value [1] 358 336
Convertible Debt | 0.25% Exchangeable Senior Notes    
Long-term debt principal amount 403 403
Long-term debt fair value [1] 351 314
Line of Credit | Revolving Credit Facility    
Line of credit facility outstanding 500 [3],[4],[5] 285
Line of credit facility fair value [1] $ 500 $ 285
[1] The fair value of the Company's indebtedness is categorized as Level II.
[2] See below under the header "Repurchases of Unsecured Notes" for additional information with respect to repurchases in the third quarter of 2024.
[3] The maturity date of the Revolving Credit Facility is July 27, 2027; however, it may spring forward to March 16, 2026 if the 0.25% Exchangeable Senior Notes have not been extended, refinanced or replaced to have a maturity date after October 26, 2027 (or are not otherwise discharged, defeased or repaid by March 16, 2026).
[4] As of September 30, 2024, the Company had $1,100 million of borrowing capacity under its Revolving Credit Facility. As of September 30, 2024, there were $500 million of outstanding borrowings under the Revolving Credit Facility and $33 million of outstanding undrawn letters of credit. On November 5, 2024, the Company had $555 million of outstanding borrowings under the Revolving Credit Facility and $33 million of outstanding undrawn letters of credit.
[5] The interest rate with respect to revolving loans under the Revolving Credit Facility at September 30, 2024 is based on, at the Company's option, Term Secured Overnight Financing Rate (" SOFR") plus a 10 basis point credit spread adjustment or JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus (in each case) an additional margin subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the SOFR margin was 1.75% and the ABR margin was 0.75% for the three months ended September 30, 2024.