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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The Company's debt consists of the following (in millions):
| Weighted Average Effective Interest Rate at December 31, 2024 |  | Weighted Average Stated Interest Rate at December 31, 2024 |  | Fixed or Floating Interest Rate |  | Maturity |  | December 31, 2024 |  | December 31, 2023
Senior Notes |  |  |  |  |  |  |  |  |  |  |
2027 Notes | 5.61% |  | 5.50% |  | Fixed |  | 2027 |  | $ | 1,200 |  |  | $ | 1,200 |
2029 Notes | 6.91% |  | 6.63% |  | Fixed |  | 2029 |  | $ | 800 |  |  | — |
Other Debt |  |  |  |  |  |  |  |  |  |  |
ABL Credit Facility | N/A |  | 5.83% |  | Floating |  | 2027 |  | 1,621 |  |  | 2,072 |
AR Facility | N/A |  | 5.36% |  | Floating |  | 2025 |  | 400 |  |  | 345 |
Finance lease liabilities | 4.29% |  | N/A |  | Fixed |  | 2025-2032 |  | 77 |  |  | 76 |
Unamortized Debt Issuance Costs(a) |  |  |  |  |  |  |  |  | (12) |  |  | (5) |
Total debt |  |  |  |  |  |  |  |  | 4,086 |  |  | 3,688 |
Less: Current maturities of long-term debt |  |  |  |  |  |  |  |  | (17) |  |  | (15) |
Long-term debt, net |  |  |  |  |  |  |  |  | $ | 4,069 |  |  | $ | 3,673 |
(a) Unamortized debt issuance costs totaling $6 million and $8 million related to the ABL Credit Facility and AR Facility (as each is defined below) as of December 31, 2024 and 2023, respectively, are included in "Other long-term assets" in the consolidated balance sheets.
Schedule of Nominal Principal Amounts of Maturities of Debt | The nominal principal amounts of maturities of debt for each of the periods ending December 31 are as follows (in millions):
2025 | $ | 17 |
2026 | 16 |
2027 | 3,233 |
2028 | 12 |
2029 | 810 |
Thereafter | 10 |
Total | $ | 4,098 |
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 December 31, 2024 (in millions):
| Remaining Capacity |  | Availability Under Borrowing Base Limitation
ABL Credit Facility | $ | 1,845 |  |  | $ | 1,845 |
AR Facility | — |  |  | — |
Total | $ | 1,845 |  |  | $ | 1,845 |

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- 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
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- 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 -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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