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Debt (Tables) | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
Schedule of Debt | The components of the Company's borrowings were as follows:
(In millions) | Maturity Date |  | June 30, 2026 |  | December 31, 2025
Revolving credit facility (1) | January 2, 2030 |  | $ | 437 |  |  | $ | 38 |
Less: unamortized debt issuance costs |  |  | (1) |  |  | — |
Revolving credit facility, net |  |  | 436 |  |  | 38 |
Senior Secured Term Loan B (2) | January 2, 2032 |  | 691 |  |  | 893 |
Less: unamortized debt issuance costs |  |  | (11) |  |  | (13) |
Senior Secured Term Loan B, net |  |  | 680 |  |  | 880 |
2030 Convertible senior notes (3) | September 15, 2030 |  | 575 |  |  | 575 |
Less: unamortized debt issuance costs |  |  | (15) |  |  | (15) |
Convertible senior notes, net |  |  | 560 |  |  | 560 |
2026 Convertible senior notes | May 15, 2026 |  | — |  |  | 403 |
Less: unamortized debt issuance costs |  |  | — |  |  | (1) |
Convertible senior notes, net |  |  | — |  |  | 402 |
Other (4) |  |  | 3 |  |  | 2 |
Total debt, including current portion |  |  | 1,679 |  |  | 1,882 |
Less: current portion of debt |  |  | 9 |  |  | 412 |
Long-term debt, net |  |  | $ | 1,670 |  |  | $ | 1,470 |
(1) Weighted-average interest rate at June 30, 2026 was 5.19%. (2) Effective interest rate for the Term Loan B (as defined below) for the quarter ended June 30, 2026 was 5.40%. (3) Effective interest rate for the 2030 Notes (as defined below) for the quarter ended June 30, 2026 was 0.93%. (4) Foreign line of credit and other borrowing arrangements. Components of interest expense recognized for the Senior Secured Term Loan B (the “Term Loan B”) and the 0.375% Convertible Senior Notes due 2030 (the “2030 Notes”) were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2026 |  | 2025 |  | 2026 |  | 2025
Contractual interest expense, Term Loan B | $ | 12 |  |  | $ | 15 |  |  | $ | 24 |  |  | $ | 29 |
Interest cost related to amortization of issuance costs, Term Loan B | — |  |  | — |  |  | 1 |  |  | 1 |
Total interest expense, Term Loan B | $ | 12 |  |  | $ | 15 |  |  | $ | 25 |  |  | $ | 30 |
Contractual interest expense, the 2030 Notes | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 1 |
Interest cost related to amortization of issuance costs, the 2030 Notes | 1 |  |  | — |  |  | 2 |  |  | 1 |
Total interest expense, the 2030 Notes | $ | 2 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 2 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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