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

12 Months Ended

Dec. 31, 2024

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,
			2024						2023
Long-Term Debt
Senior term loans due in 2028			$	720					$	755
5.950% senior notes due in 2034			1,000						1,000
4.875% senior notes due in 2026			600						600
5.500% senior notes due in 2029			500						—
2.500% senior notes due in 2031			500						500
Total long-term debt			3,320						2,855
Less: current maturities of long-term debt			36						9
Less: unamortized discount			30						31
Less: unamortized debt issuance costs			9						11
Total long-term debt, net of current maturities			$	3,245					$	2,804
Short-Term Borrowings
Warehouse lines of credit, with interest ranging from 5.65% to 8.15%, due in 2025			$	552					$	666
Commercial paper program, with interest of 4.77%			175						—
Revolving credit facility, with interest of 7.50%			132						—
Other			47						16
Total short-term borrowings			$	906					$	682

Schedule of Future Annual Aggregate Maturities

Future annual aggregate maturities of total consolidated gross debt (excluding unamortized discount, premium and debt issuance costs) at December 31, 2024 are as follows (dollars in millions):

			2025						2026						2027						2028						2029						Thereafter
Future maturities of total consolidated gross debt			$	942					$	638					$	38					$	608					$	500					$	1,500

X

- Definition

Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Subparagraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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X

- 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.

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