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Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments Long-term debt consisted of the following:
Effective interest rate
as of June 30,
Balance as of
June 30,
Balance as of
December 31,
(In millions)
2025
2025
2024
3.500% Unsecured Notes due 2026
3.59%
$326
$400
4.750% Unsecured Notes due 2046
5.02%
554
590
4.600% Unsecured Notes due 2027
4.65%
700
—
4.700% Unsecured Notes due 2028
4.76%
700
—
4.950% Unsecured Notes due 2030
5.01%
1,000
—
5.400% Unsecured Notes due 2035
5.47%
1,000
—
7.125% Unsecured Notes due 2036
7.25%
445
—
6.875% Unsecured Notes due 2039
6.99%
191
—
6.500% Unsecured Notes due 2043
6.61%
239
—
4.200% Unsecured Notes due 2033
4.24%
50
—
7.650% Private Placement due 2031
7.80%
50
—
Other
11
8
Total principal
5,266
998
Unamortized discounts, premiums and debt issuance
costs
1
(13)
Total long-term debt
5,267
985
Less: current portion of long-term debt
(6)
(5)
Long-term debt
$5,261
$980
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The fair value of the Company’s long-term debt was as follows:
(In millions)
As of June 30, 2025
Carrying amount
$5,261
Fair value
$5,332