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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Outstanding | The following is a summary of long-term debt:
|  |  |  |  |  | Maturity |  | December 31, |  | December 31,
Title |  | Type |  | Interest Rate |  | Date |  | 2023 |  | 2022
|  |  |  |  |  |  |  | (millions)
2029 Notes |  | Senior Notes (a) |  | 4.125% |  | 2029 |  | $ | 1,100 |  |  | $ | 1,100 |
2031 Notes |  | Senior Notes (a) |  | 4.375% |  | 2031 |  | 1,000 |  |  | 1,000 |
2032 Notes |  | Senior Secured Notes (b) |  | 4.300% |  | 2032 |  | 600 |  |  | 600 |
Term Loan Facility |  | Term Loan Facility |  | Variable (c) |  | 2028 |  | 399 |  |  | 399 |
Long-term debt principal |  |  |  |  |  |  |  | 3,099 |  |  | 3,099 |
Unamortized debt discount |  |  |  |  |  |  |  | (2) |  |  | (3) |
Unamortized debt issuance costs |  |  |  |  |  |  |  | (32) |  |  | (37) |
Long-term debt, net |  |  |  |  |  |  |  | $ | 3,065 |  |  | $ | 3,059 |
______________________________ (a) Interest payable semi-annually in arrears each June 15 and December 15. (b) Interest payable semi-annually in arrears each April 15 and October 15. (c) Variable rate is SOFR plus 2.11% for a one-month interest period as of December 31, 2023.
Schedule of Debt Maturities | The following table presents scheduled debt maturities, excluding any unamortized discount on debt:
|  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 and Thereafter |  | Total
| (millions)
Debt maturities |  | $ | — |  |  | — |  |  | — |  |  | — |  |  | 3,099 |  |  | $ | 3,099 |
Schedule of Availability Under the Revolving Credit Facility | The following table presents the availability under the Revolving Credit Facility:
| December 31, |
| 2023 |
| (millions) |
Total availability |  |
Revolving Credit Facility, expiring October 2027 | $ | 1,000 |  |
Amounts outstanding |  |
Revolving Credit Facility borrowings (a) | 165 |  |
Letters of credit | 16 |  |
| 181 |  |
Net availability | $ | 819 |  |
______________________________ (a) The weighted average interest rate for Revolving Credit Facility borrowings outstanding is 6.72%.
Schedule of Interest Income and Interest Expense | The following table summarizes our interest expense:
|  |  | Year Ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
|  |  |  |  | (millions)
Interest expense |  |  |  |  | $ | 170 |  |  | $ | 142 |  |  | $ | 113 |
Capitalized interest |  |  |  |  | (20) |  |  | (5) |  |  | (1) |
Total interest expense, net |  |  |  |  | $ | 150 |  |  | $ | 137 |  |  | $ | 112 |

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