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v3.23.3

DEBT - Narrative (Details) € in Millions |  |  | 9 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Apr. 26, 2023 USD ($) | Apr. 26, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2023 EUR (€) | May 09, 2023 USD ($) | May 09, 2023 EUR (€)
Debt |  |  |  |  |  |  |  |
Repayments of term loan |  |  | $ 200,000,000 | $ 100,000,000 |  |  |  |
Carrying Value |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Debt, long-term and short-term |  |  | 3,000,000,000 |  | $ 3,200,000,000 |  |  |
Fair Value |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Long-term and short-term debt |  |  | 2,500,000,000 |  | 2,700,000,000 |  |  |
2022 Credit Agreement | Revolver |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Repayments of term loan | $ 200,000,000 |  |  |  |  |  |  |
2022 Credit Agreement | Line of Credit | Revolver |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Borrowing capacity, maximum |  | $ 1,000,000,000 |  |  |  |  |  |
Increase in maximum borrowing capacity |  | $ 500,000,000 |  |  |  |  |  |
Amended Credit Agreement |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Maximum net leverage ratio |  | 4.0 |  |  |  |  |  |
Minimum interest coverage ratio |  | 2.5 |  |  |  |  |  |
Amount borrowed |  |  | 0 |  |  |  |  |
Amended Credit Agreement | Revolver |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Borrowing capacity, maximum |  | $ 500,000,000 |  |  |  |  |  |
Amended Credit Agreement | Swingline loans |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Borrowing capacity, maximum |  | 125,000,000 |  |  |  |  |  |
Amended Credit Agreement | Letters of credit |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Borrowing capacity, maximum |  | 25,000,000 |  |  |  |  |  |
Outstanding and unused Letters of Credit |  |  | $ 0 |  |  |  |  |
Unsecured Term Loan |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Senior unsecured loan |  | $ 500,000,000 |  |  |  |  |  |
Repayments of term loan |  |  |  |  | $ 300,000,000 |  |  |
Unsecured Term Loan | SOFR Rate |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Interest rate (as a percent) |  | 0.70% |  |  |  |  |  |
Syndicate Of Lender Borrowing | Loans Payable |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |
Interest rate (as a percent) |  |  | 4.807% |  |  | 4.807% |  |
Short-term borrowing |  |  | $ 63,000,000 |  |  | € 60 | $ 77,000,000 | € 70

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