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Debt (Tables)

12 Months Ended

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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