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Debt (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Carrying Amounts | During the six month period ended June 30, 2025, we used a portion of the funds to complete an early settlement of a cash tender offer for $647 million in aggregate principal amount (the “Tender Offer”) as follows:
|  | Maturity Date |  | Aggregate Principal Amount Accepted |  | Purchase Price Including Premium |  | Interest Paid
|  |  |  | (In millions)
HF Sinclair Senior Notes: |  |  |  |  |  |  |  |
5.875% Senior Notes |  | April 2026 |  | $ | 449 |  |  | $ | 452 |  |  | $ | 9 |
6.375% Senior Notes |  | April 2027 |  | 150 |  |  | 153 |  |  | 3 |
|  |  |  | $ | 599 |  |  | $ | 605 |  |  | $ | 12 |
HollyFrontier Senior Notes: |  |  |  |  |  |  |  |
5.875% Senior Notes |  | April 2026 |  | $ | 48 |  |  | $ | 49 |  |  | $ | 1 |
Total |  |  |  | $ | 647 |  |  | $ | 654 |  |  | $ | 13 |
The principal and carrying amounts of Long-term debt are as follows:
|  |  |  | Carrying Amount (1)
|  | Maturity Date |  | June 30, 2025 |  | December 31, 2024
|  |  |  | (In millions)
HF Sinclair Senior Notes: |  |  |  |  |  |
5.875% Senior Notes |  | April 2026 |  | $ | 154 |  |  | $ | 797 |
6.375% Senior Notes |  | April 2027 |  | 250 |  |  | 400 |
5.000% Senior Notes |  | February 2028 |  | 499 |  |  | 499 |
4.500% Senior Notes |  | October 2030 |  | 325 |  |  | 325 |
5.750% Senior Notes |  | January 2031 |  | 650 |  |  | — |
6.250% Senior Notes |  | January 2035 |  | 750 |  |  | — |
|  |  |  | 2,628 |  |  | 2,021 |
HollyFrontier Senior Notes: |  |  |  |
5.875% Senior Notes |  | April 2026 |  | — |  |  | 203 |
4.500% Senior Notes |  | October 2030 |  | 75 |  |  | 75 |
|  |  |  | 75 |  |  | 278 |
HEP Senior Notes: |  |  |  |  |  |
6.375% Senior Notes |  | April 2027 |  | — |  |  | — |
5.000% Senior Notes |  | February 2028 |  | 1 |  |  | 1 |
|  |  |  | 1 |  |  | 1 |
Total Senior Notes |  |  |  | 2,704 |  |  | 2,300 |
Terminated HEP Credit Agreement |  | July 2025 |  | — |  |  | 350 |
Terminated HF Sinclair Credit Agreement |  | April 2026 |  | — |  |  | — |
HF Sinclair Credit Agreement |  | April 2030 |  | — |  |  | — |
Total Credit Agreements |  |  |  | — |  |  | 350 |
Total debt at face value |  |  |  | 2,704 |  |  | 2,650 |
Unamortized discount and debt issuance costs |  |  |  | (27) |  |  | (12) |
Total debt |  |  |  | 2,677 |  |  | 2,638 |
Current debt |  |  |  | — |  |  | (350) |
Long-term debt |  |  |  | $ | 2,677 |  |  | $ | 2,288 |
(1)As of June 30, 2025 and December 31, 2024, the carrying amounts of our Senior Notes equaled the principal amounts. The fair values of the senior notes are as follows:
|  | June 30, 2025 |  | December 31, 2024
|  | (In millions)
HF Sinclair, HollyFrontier and HEP Senior Notes |  | $ | 2,725 |  |  | $ | 2,284 |

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