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Long-Term Debt | 3 Months Ended
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Mar. 31, 2023
Long-Term Debt [Abstract] |
Long-Term Debt | Note 9. Long-Term Debt A summary of our debt is as follows:
|  | As of
|  | March 31, |  | December 31,
(In millions) |  | 2023 |  | 2022
Term Loan A maturing in 2026(1) |  | $ | 236 |  | $ | 239
Term Loan B maturing in 2028(2) |  |  | 369 |  |  | 370
Revolving Credit Facility maturing in 2026 |  |  | — |  |  | —
Total debt |  |  | 605 |  |  | 609
Less current portion |  |  | (17) |  |  | (17)
Total long-term debt |  | $ | 588 |  | $ | 592
_______________________________ (1)Term Loan A is presented net of unamortized debt issuance costs of $1 million and $2 million as of March 31, 2023 and December 31, 2022, respectively. (2)Term Loan B is presented net of unamortized debt issuance costs of $3 million and unamortized discount of $1 million as of March 31, 2023 and December 31, 2022. In March 2023, in connection with the planned phase-out of LIBOR, we amended our Credit Facilities to replace LIBOR with SOFR as the benchmark rate under the Credit Agreement. This change was effective in March 2023 for Term Loan A and the Revolving Credit Facility and will be effective in June 2023 for Term Loan B. As of March 31, 2022, we had $2 million of letters of credit outstanding under our $250 million Revolving Credit Facility, and the available borrowing capacity under Revolving Credit Facility was $248 million. As of March 31, 2023, we were in compliance with the covenants under the Credit Agreement. Scheduled Debt Payments The following table presents future scheduled debt payments as of March 31, 2023:
(In millions) |  |  |
2023 (remainder) |  | $ | 13
2024 |  |  | 17
2025 |  |  | 17
2026 |  |  | 205
2027 |  |  | 4
2028 |  |  | 355
Total future scheduled debt payments |  |  | 611
Less unamortized debt issuance costs |  |  | (4)
Less unamortized discount |  |  | (1)
Total debt |  | $ | 605

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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