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Long-Term Debt | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt The Company’s outstanding debt consisted of the following:
(in millions) | Currency |  | Maturity Date |  | March 31, 2025 |  | December 31, 2024
Term loans | USD |  | January 2027 |  | $ | 354 |  |  | $ | 444 |
Senior notes | USD |  | October 2028 |  | 300 |  |  | 300 |
Other | USD |  | August 2033 |  | 3 |  |  | 3 |
Total debt |  |  |  |  | 657 |  |  | 747 |
Less: unamortized debt issuance costs |  |  |  |  | (4) |  |  | (5) |
Total debt, net of unamortized debt issuance costs |  |  |  |  | 653 |  |  | 742 |
Less: current portion of long-term debt |  |  |  |  | — |  |  | (50) |
Long-term debt |  |  |  |  | $ | 653 |  |  | $ | 692 |
Credit Facility In January 2022, the Company entered into a credit agreement with Bank of America, N.A. and certain other lenders, which provides for senior unsecured credit facilities in an aggregate principal amount of $1,250 million (collectively, and as amended, the “Credit Facility”), consisting of term loans and revolving loan commitments. The Company’s wholly owned subsidiary, UL LLC, a Delaware limited liability company, provides a guaranty of its obligations thereunder. As of March 31, 2025, the Company was in compliance with all covenants under the Credit Facility. The interest rate on the term loans was 5.55% as of March 31, 2025 and 5.58% as of December 31, 2024. Senior Notes In October 2023, the Company issued $300 million in aggregate principal amount of 6.500% senior notes due 2028 (the “notes”). The notes are senior unsecured obligations of UL Solutions Inc. and are unconditionally guaranteed by UL LLC. Borrowings under the notes bear a fixed interest rate of 6.500% per annum.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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