XML 40 R30.htm IDEA: XBRL DOCUMENT v3.23.3

Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The Company's debt consists of the following (in millions):

						Weighted Average Effective Interest Rate at September 30, 2023						Weighted Average Stated Interest Rate at September 30, 2023						Fixed or Floating Interest Rate						Maturity						September 30, 2023						December 31, 2022
Senior Notes
2027 Notes						5.61%						5.50%						Fixed						2027						$	1,200					$	1,200
Other Debt
ABL Credit Facility						N/A						6.92%						Floating						2027						2,069						1,340
AR Facility						N/A						6.15%						Floating						2024						345						335
Finance lease liabilities						3.77%						N/A						Fixed						2023-2030						70						64
Unamortized Debt Issuance Costs(a)																														(5)						(5)
Total debt																														3,679						2,934
Less: Current maturities of long-term debt																														(14)						(12)
Long-term debt, net																														$	3,665					$	2,922

(a)    Unamortized debt issuance costs totaling $9 million and $10 million related to the ABL Credit Facility and AR Facility (as each is defined below) as of September 30, 2023 and December 31, 2022, respectively, are included in "Other long-term assets" in the condensed consolidated balance sheets.

Schedule of Borrowing Capacity and Availability on Line of Credit

After outstanding borrowings, the following was available to the Company under the ABL Credit Facility and AR Facility as of September 30, 2023 (in millions):

			Remaining Capacity						Availability Under Borrowing Base Limitation
ABL Credit Facility			$	1,404					$	1,404
AR Facility			25						25
Total			$	1,429					$	1,429

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration