XML 40 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

Long-Term Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt consisted of the following:
(in millions) |  | June 30, 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: |  |  |  |  |  |
4.600% senior notes, semi-annual interest payments, balloon due 2026 |  |  | 400 |  |  |  | — |
4.700% senior notes, semi-annual interest payments, balloon due 2028 |  |  | 500 |  |  |  | — |
4.500% senior notes, semi-annual interest payments, balloon due 2029 |  |  | 350 |  |  |  | 350 |
4.900% senior notes, semi-annual interest payments, balloon due 2030 |  |  | 800 |  |  |  | — |
2.375% senior notes, semi-annual interest payments, balloon due 2031 |  |  | 700 |  |  |  | 700 |
4.200% senior notes, semi-annual interest payments, balloon due 2032 |  |  | 600 |  |  |  | 600 |
5.250% senior notes, semi-annual interest payments, balloon due 2032 |  |  | 500 |  |  |  | — |
5.650% senior notes, semi-annual interest payments, balloon due 2034 |  |  | 600 |  |  |  | 600 |
5.550% senior notes, semi-annual interest payments, balloon due 2035 |  |  | 1,000 |  |  |  | — |
4.950% senior notes, semi-annual interest payments, balloon due 2052 |  |  | 600 |  |  |  | 600 |
6.250% senior notes, semi-annual interest payments, balloon due 2055 |  |  | 1,000 |  |  |  | — |
Total notes |  |  | 7,050 |  |  |  | 2,850 |
Credit agreements: |  |  |  |  |  |
5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.750%, expires October 27, 2026 |  |  | 156 |  |  |  | 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 |  |  | — |  |  |  | 250 |
5-year term loan facility, periodic interest and principal payments, SOFR plus up to 1.750%, expires March 31, 2027 |  |  | 338 |  |  |  | 362 |
Total credit agreements |  |  | 494 |  |  |  | 781 |
Unamortized portion of debt discounts related to note agreements (contra) |  |  | (19 | ) |  |  | (11 | )
Debt issuance costs (contra) |  |  | (55 | ) |  |  | (21 | )
Total long-term debt, less unamortized discount and debt issuance costs |  |  | 7,470 |  |  |  | 3,599 |
Current portion of long-term debt |  |  | 75 |  |  |  | 225 |
Total debt |  | $ | 7,545 |  |  | $ | 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:
|  | June 30, 2025 |  |  | December 31, 2024 |
(in millions) |  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Long-term debt |  | $ | 7,031 |  |  | $ | 6,961 |  |  | $ | 2,839 |  |  | $ | 2,602 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: 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 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration