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Debt and Financing Arrangements (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes the carrying value of the Company’s debt:
September 30,December 31,
(In millions, except percentages)
Rate (1)
20242023
Unsecured notes due 2026 (2)
1.65 %$399 $398 
Unsecured notes due 2029 (3)
6.25 %593 — 
Unsecured notes due 2031 (4)
2.65 %397 397 
Unsecured notes due 2034 (5)
6.50 %490 — 
Three-Year Term Loan due 2025 (6)
5.83 %185 235 
Five-Year Term Loan due 2027 (7)(8)
6.20 %399 499 
Finance leases and other debtVarious316 118 
Total debt2,779 1,647 
Less: Current debt223 27 
Total Long-term debt$2,556 $1,620 
(1) Interest rate as of September 30, 2024.
(2) Net of unamortized debt issuance costs of $1 million and $2 million as of September 30, 2024 and December 31, 2023, respectively.
(3) Net of unamortized debt issuance costs of $7 million as of September 30, 2024.
(4) Net of unamortized debt issuance costs of $3 million as of September 30, 2024 and December 31, 2023.
(5) Net of unamortized debt issuance costs of $10 million as of September 30, 2024.
(6) On June 27, 2024, the Company repaid $50 million of the Three-Year Term Loan due 2025.
(7) Net of unamortized debt issuance costs of $1 million as of September 30, 2024 and December 31, 2023.
(8) On May 6, 2024, the Company repaid $100 million of the Five-Year Term Loan due 2027.
Schedule of Trade Receivables Sold
Information related to the trade receivables sold was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Receivables sold in period$536 $288 $1,191 $820 
Cash consideration533 286 1,182 815 
Net cash provided by operating cash flows
140 27 158 27