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Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

						September 30, 2024												December 31, 2023
(In millions)						Principal Balance						Carrying Value						Principal Balance						Carrying Value
Term loan facility						$	1,100					$	1,089					$	1,100					$	1,087
6.25% senior secured notes due 2028						830						823						830						822
7.125% senior notes due 2031						450						445						450						445
7.125% senior notes due 2032						585						576						585						575
6.70% senior debentures due 2034						300						224						300						221
Finance leases, asset financing and other						254						254						254						254
Total debt						3,519						3,411						3,519						3,404
Short-term borrowings and current maturities of long-term debt						68						68						69						69
Long-term debt						$	3,451					$	3,343					$	3,450					$	3,335

Schedule of Fair Value of Debt

The fair value hierarchy of cash equivalents was as follows:

(In millions)						Carrying Value						Fair Value						Level 1
September 30, 2024						$	336					$	336					$	336
December 31, 2023						369						369						369

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

(In millions)						Fair Value						Level 1						Level 2
September 30, 2024						$	3,616					$	2,276					$	1,340
December 31, 2023						3,583						2,235						1,348

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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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