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Long-Term Debt and Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt and Short-Term Borrowings

Total long-term debt and short-term borrowings consist of the following (dollars in millions):

			December 31,
			2023						2022
Long-Term Debt
Senior term loans			$	755					$	428
5.950% senior notes due in 2034, net of unamortized discount			976						—
4.875% senior notes due in 2026, net of unamortized discount			599						598
2.500% senior notes due in 2031, net of unamortized discount			494						494
Total long-term debt			2,824						1,520
Less: current maturities of long-term debt			9						428
Less: unamortized debt issuance costs			11						6
Total long-term debt, net of current maturities			$	2,804					$	1,086
Short-Term Borrowings
Warehouse lines of credit, with interest ranging from 5.51% to 8.15%, due in 2024			$	666					$	448
Revolving credit facility, with interest ranging from 5.03% to 5.23%			—						178
Other			16						43
Total short-term borrowings			$	682					$	669

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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.

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