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Debt (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt |
|  | June 30, 2025 |  | December 31, 2024
(In millions) |  | Principal Balance |  | Carrying Value |  | Principal Balance |  | Carrying Value
Term loan facility |  | $ | 1,100 |  |  | $ | 1,092 |  |  | $ | 1,100 |  |  | $ | 1,089 |
6.25% senior secured notes due 2028 |  | 830 |  |  | 824 |  |  | 830 |  |  | 823 |
7.125% senior notes due 2031 |  | 450 |  |  | 446 |  |  | 450 |  |  | 445 |
7.125% senior notes due 2032 |  | 585 |  |  | 577 |  |  | 585 |  |  | 576 |
6.70% senior debentures due 2034 |  | 300 |  |  | 227 |  |  | 300 |  |  | 225 |
Finance leases, asset financing and other |  | 242 |  |  | 242 |  |  | 228 |  |  | 228 |
Total debt |  | 3,507 |  |  | 3,408 |  |  | 3,493 |  |  | 3,387 |
Short-term borrowings and current maturities of long-term debt |  | 63 |  |  | 63 |  |  | 62 |  |  | 62 |
Long-term debt |  | $ | 3,444 |  |  | $ | 3,344 |  |  | $ | 3,431 |  |  | $ | 3,325 |
Schedule of Fair Value of Debt | The fair value hierarchy of cash equivalents was as follows:
(In millions) |  | Carrying Value |  | Fair Value |  | Level 1
June 30, 2025 |  | $ | 196 |  |  | $ | 196 |  |  | $ | 196 |
December 31, 2024 |  | 205 |  |  | 205 |  |  | 205 |
The fair value of our debt and classification in the fair value hierarchy was as follows:
(In millions) |  | Fair Value |  | Level 1 |  | Level 2
June 30, 2025 |  | $ | 3,593 |  |  | $ | 2,246 |  |  | $ | 1,346 |
December 31, 2024 |  | 3,541 |  |  | 2,223 |  |  | 1,318 |

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