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Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of debt outstanding | The following table reflects our outstanding debt (in order of priority and maturity):
| As of
| September 30, 2024 |  | December 31, 2023
| Final Maturity |  | Rate(s) |  | Face Value |  | Unamortized debt discount/premium and deferred financing costs, net |  | Book Value |  | Book Value
Senior Secured Credit Facilities: |  |  |  |  |  |  |  |  |  |  |
LNWI Revolver | 2027 |  | variable |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
LNWI Term Loan B | 2029 |  | variable |  | 2,162 |  |  | (24) |  |  | 2,138 |  |  | 2,141 |
LNWI Senior Notes: |  |  |  |  |  |  |  |  |  |  |
2028 Unsecured Notes | 2028 |  | 7.000% |  | 700 |  |  | (6) |  |  | 694 |  |  | 694 |
2029 Unsecured Notes | 2029 |  | 7.250% |  | 500 |  |  | (4) |  |  | 496 |  |  | 495 |
2031 Unsecured Notes | 2031 |  | 7.500% |  | 550 |  |  | (7) |  |  | 543 |  |  | 543 |
Other | — |  | — |  | 2 |  |  | — |  |  | 2 |  |  | 1 |
Total long-term debt outstanding |  |  |  |  | $ | 3,914 |  |  | $ | (41) |  |  | $ | 3,873 |  |  | $ | 3,874 |
Less: current portion of long-term debt |  |  |  |  |  |  |  |  | (23) |  |  | (22) |
Long-term debt, excluding current portion |  |  |  |  |  |  |  |  | $ | 3,850 |  |  | $ | 3,852 |
Fair value of debt(1) |  |  |  |  | $ | 3,962 |  |  |  |  |  |  |
(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.
Schedule of components of extinguishment and modification of debt | The following are components of the loss on debt financing transactions resulting from debt extinguishment and modification accounting for the three and nine months ended September 30, 2024 and 2023, respectively.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Repayment of principal balance at premium | $ | — |  |  | $ | 12 |  |  | $ | — |  |  | $ | 12 |
Unamortized debt discount and deferred financing costs, net | 2 |  |  | 3 |  |  | 2 |  |  | 3 |
Total loss on debt financing transactions | $ | 2 |  |  | $ | 15 |  |  | $ | 2 |  |  | $ | 15 |

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