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Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

						March 31, 2023												December 31, 2022
(In millions)						Principal Balance						Carrying Value						Principal Balance						Carrying Value
Term loan facility						$	2,003					$	1,983					$	2,003					$	1,981
6.25% senior notes due 2025						112						112						112						111
6.70% senior debentures due 2034						300						218						300						217
Finance leases, asset financing and other						231						231						223						223
Total debt						2,646						2,544						2,638						2,532
Short-term borrowings and current maturities of long-term debt						66						66						59						59
Long-term debt						$	2,580					$	2,478					$	2,579					$	2,473

Schedule of Fair Value of Debt

The fair value hierarchy of cash equivalents was as follows:

(In millions)						Carrying Value						Fair Value						Level 1
March 31, 2023						$	238					$	238					$	238
December 31, 2022						402						402						402

The fair value of our debt and classification in the fair value hierarchy was as follows:

(In millions)						Fair Value						Level 1						Level 2
March 31, 2023						$	2,616					$	395					$	2,221
December 31, 2022						2,601						392						2,209

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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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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