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Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following:

(in millions)		March 31, 2025				December 31, 2024
Current portion of long-term debt:
Current portion of 5-year term loan facility expires 2026		$	25			$	25
Current portion of 3-year term loan facility expires 2025			—				150
Current portion of 5-year term loan facility expires 2027			50				50
Total current portion of long-term debt			75				225
Long-term debt:
Note agreements:
4.500% senior notes, semi-annual interest payments, net of the unamortized discount,    balloon due 2029			350				350
2.375% senior notes, semi-annual interest payments, net of the unamortized discount,    balloon due 2031			700				700
4.200% senior notes, semi-annual interest payments, net of the unamortized discount,    balloon due 2032			598				598
5.650% senior notes, semi-annual interest payments, net of the unamortized discount,    balloon due 2034			599				599
4.950% senior notes, semi-annual interest payments, net of the unamortized discount,    balloon due 2052			592				592
Total notes			2,839				2,839
Credit agreements:
5-year term loan facility, periodic interest and principal payments, SOFR plus up to    1.750%, expires October 27, 2026			162				169
5-year revolving loan facility, periodic interest payments, SOFR plus up to 1.525%, plus commitment fees up to 0.225%, expires October 27, 2026			400				250
5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.750%, expires March 31, 2027			350				362
Total credit agreements			912				781
Debt issuance costs (contra)			(20	)			(21	)
Total long-term debt, less unamortized discount and debt issuance costs			3,731				3,599
Current portion of long-term debt			75				225
Total debt		$	3,806			$	3,824

Schedule of Liabilities that are Not Measured at Fair Value on a Recurring Basis

The following table presents liabilities that are not measured at fair value on a recurring basis:

		March 31, 2025								December 31, 2024
(in millions)		Carrying Value				Fair Value				Carrying Value				Fair Value
Liabilities:
Current portion of long-term debt		$	—			$	—			$	—			$	—
Long-term debt		$	2,839			$	2,641			$	2,839			$	2,602

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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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