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Debt and Other Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt
Our outstanding debt consisted of the following at the dates indicated:
Dollars in millionsDecember 31, 2021December 31, 2020
Term Loan A441 285 
Term Loan B511 516 
Convertible Senior Notes350 350 
Senior Notes250 250 
Senior Credit Facility364 260 
Unamortized debt issuance costs - Term Loan A(4)(4)
Unamortized debt issuance costs and discount - Term Loan B(13)(16)
Unamortized debt issuance costs and discount - Convertible Senior Notes(27)(40)
Unamortized debt issuance costs and discount - Senior Notes(4)(5)
Total debt1,868 1,596 
Less: current portion16 12 
Total long-term debt, net of current portion$1,852 $1,584 
The details of the applicable margins and commitment fees under the amended Senior Credit Facility are based on the Company's consolidated net leverage ratio as follows:
Revolver and Term Loan A
Consolidated Net Leverage RatioReference Rate (a)Base RateCommitment Fee
Greater than or equal to 4.25 to 1.002.25 %1.25 %0.33 %
Less than 4.25 to 1.00 but greater than or equal to 3.25 to 1.002.00 %1.00 %0.30 %
Less than 3.25 to 1.00 but greater than or equal to 2.25 to 1.001.75 %0.75 %0.28 %
Less than 2.25 to 1.00 but greater than or equal to 1.25 to 1.001.50 %0.50 %0.25 %
Less than 1.25 to 1.001.25 %0.25 %0.23 %
(a)The reference rate for the Revolver and the U.S. dollar tranche is LIBOR, the Australian dollar tranche is BBSY and the British pound sterling tranche is SONIA.
Summary of Combined Principal Installments for Both Classes of Bonds and Subordinated Notes
The following table summarizes the combined principal installments for both classes of bonds and subordinated notes, including inflation adjusted bond indexation, until maturity in 2025 as of December 31, 2021:
Dollars in millionsPayments Due
2022$1 
2023$— 
2024$1 
2025$—