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v3.23.3

Debt Additional Disclosures (Details) - USD ($) |  |  |  | 2 Months Ended | 10 Months Ended | 12 Months Ended
--- | --- | --- | --- | --- | --- | ---
Apr. 13, 2023 | Jan. 05, 2023 | Nov. 03, 2022 | Aug. 31, 2023 | Jun. 30, 2023 | Aug. 31, 2023 | Sep. 01, 2022
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal |  |  |  |  |  | $ 6,100,000,000 |
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | $ 12,049,000,000 |  | $ 12,049,000,000 |
Corporate Bonds |  |  |  |  |  |  |
Senior Unsecured Notes |  |  |  |  |  |  |
Redemption price percentage upon change in control |  |  |  |  |  | 100.00% |
Debt Covenant, Restricted Subsidiaries, Ownership Percentage by Parent (in hundredths) |  |  |  |  |  | 80.00% |
Debt Instrument, Redemption Price Percentage, Change in Control Event |  |  |  |  |  | 101.00% |
Increase in Cash - Issuances |  |  |  |  |  |  | $ 1,990,000,000
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal |  |  |  |  |  |  | 2,000,000,000
Corporate Bonds | 2032 Green Bonds |  |  |  |  |  |  |
Senior Unsecured Notes |  |  |  |  |  |  |
Increase in Cash - Issuances |  |  |  |  |  |  | 1,000,000,000
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | 995,000,000 |  | $ 995,000,000 | 994,000,000
Term Loan |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
[Temp Amendment] Debt Instrument, Covenant, Minimum Liquidity |  |  |  | $ 5,000,000,000 |  | $ 5,000,000,000 |
Term Loan | Maximum |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
[Original] Debt Covenant, Ratio Of Total Debt To Adjusted EBITDA |  |  |  | 325.00% |  | 325.00% |
[Temp Amendment] Debt Instrument, Covenant, Ratio Of Net Debt To Adjusted EBITDA |  |  |  | 325.00% |  | 325.00% |
[Original and Temp Amendment] Debt Instrument, Covenant, Ratio of Total Debt To Adjusted EBITDA, Temporary Increase |  |  |  | 375.00% |  | 375.00% |
Term Loan | 2025, 2026, 2027 Term Loans |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal |  |  |  |  |  | $ 3,200,000,000 |
Debt Instrument, Covenant Description |  |  |  |  |  | The Multi-Tranche Term Loan Agreement requires us to maintain, on a consolidated basis, a leverage ratio of total indebtedness to adjusted EBITDA, as defined in the Multi-Tranche Term Loan Agreement and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. On March 27, 2023, we amended the Multi-Tranche Term Loan Agreement to provide that in lieu of the foregoing leverage ratio, during the fourth quarter of 2023 and each quarter of 2024, we will be required to maintain, on a consolidated basis, a net leverage ratio of total net indebtedness to adjusted EBITDA, as defined in the Multi-Tranche Term Loan Agreement and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. Alternatively, for up to three of such five quarters, we may elect to comply with a requirement of minimum liquidity, as defined in the Multi-Tranche Term Loan Agreement, of not less than $5.0 billion. In the fourth quarter of 2023, we complied with the net leverage ratio. Each of the leverage ratio and net leverage ratio maximums, as applicable, is subject to a temporary four quarter increase in such ratio to 3.75 to 1.00 following certain material acquisitions. The Multi-Tranche Term Loan Agreement contains other covenants that, among other things, limit, in certain circumstances, our ability and/or the ability of our restricted subsidiaries to (1) create or incur certain liens and enter into sale and lease-back transactions, (2) create, assume, incur, or guarantee certain additional secured indebtedness and unsecured indebtedness of our restricted subsidiaries, and (3) consolidate with or merge with or into, or convey, transfer, lease, or otherwise dispose of all or substantially all of our assets, to another entity. These covenants are subject to a number of limitations, exceptions, and qualifications. Our obligations under the Multi-Tranche Term Loan Agreement are unsecured. |
Term Loan | 2025, 2026, 2027 Term Loans | SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 0.10% |
Term Loan | 2025, 2026, 2027 Term Loans | Minimum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 1.00% |
Term Loan | 2025, 2026, 2027 Term Loans | Maximum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 2.00% |
Term Loan | 2026 Term Loan A |  |  |  |  |  |  |
Senior Unsecured Notes |  |  |  |  |  |  |
Increase in Cash - Issuances |  | $ 249,000,000 | $ 745,000,000 |  |  |  |
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal |  | 250,000,000 | 746,000,000 |  |  |  |
Debt Instrument, Periodic Payment, Percentage of Original Principal |  |  |  |  |  | 1.25% |
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | $ 970,000,000 |  | $ 970,000,000 | 0
Term Loan | 2027 Term Loan A |  |  |  |  |  |  |
Senior Unsecured Notes |  |  |  |  |  |  |
Increase in Cash - Issuances |  | 225,000,000 | 924,000,000 |  |  |  |
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal |  | $ 225,000,000 | $ 927,000,000 |  |  |  |
Debt Instrument, Periodic Payment, Percentage of Original Principal |  |  |  |  |  | 1.25% |
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | 1,120,000,000 |  | $ 1,120,000,000 | 0
Term Loan | 2024 Term Loan A |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Increase (Decrease) Principal | $ (600,000,000) |  |  |  |  |  |
Debt Instrument, Covenant Description |  |  |  |  |  | The 2024 Term Loan A agreement contains the same leverage ratio, as amended, and substantially the same other covenants as the Multi-Tranche Term Loan Agreement. |
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | $ 587,000,000 |  | $ 587,000,000 | $ 1,187,000,000
Term Loan | 2024 Term Loan A | Minimum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  | 0.625% |  |  |
Term Loan | 2024 Term Loan A | Minimum | SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  | 0.11% |  |  |
Term Loan | 2024 Term Loan A | Minimum | LIBOR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  | 0.625% |  |
Term Loan | 2024 Term Loan A | Maximum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  | 1.375% |  |  |
Term Loan | 2024 Term Loan A | Maximum | SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  | 0.43% |  |  |
Term Loan | 2024 Term Loan A | Maximum | LIBOR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  | 1.375% |  |
Revolving Credit Facility | 2026 Revolving Credit Facility |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Covenant Description |  |  |  |  |  | The Revolving Credit Facility contains the same leverage ratio, as amended, and substantially the same other covenants as the Multi-Tranche Term Loan Agreement. |
Revolving Credit Facility |  |  |  |  |  |  |
Total Long-term Debt |  |  |  | $ 0 |  | $ 0 |
Available borrowing capacity |  |  |  | $ 2,500,000,000 |  | $ 2,500,000,000 |
Revolving Credit Facility | 2026 Revolving Credit Facility | Minimum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 1.00% |
Revolving Credit Facility | 2026 Revolving Credit Facility | Minimum | SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 0.11% |
Revolving Credit Facility | 2026 Revolving Credit Facility | Maximum | Adjusted term SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 1.75% |
Revolving Credit Facility | 2026 Revolving Credit Facility | Maximum | SOFR |  |  |  |  |  |  |
Term Loans A |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  |  |  |  |  | 0.43% |

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