XML 48 R34.htm IDEA: XBRL DOCUMENT v3.24.2

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Debt is comprised of the following at the dates indicated (in millions):

			June 30, 2024						December 31, 2023
4.00% senior notes due 2024 (1) (2)			$	199					$	198
4.875% senior notes due 2025 (1)			499						498
3.90% senior notes due 2025			47						47
4.20% senior notes due 2026			1,981						1,980
6.375% senior notes due 2027			480						488
6.625% senior notes due 2029			474						486
5.375% senior notes due 2036			417						417
5.50% senior notes due 2046			658						658
Revolving credit facility (1)			285						131
Other debt			2						1
Total debt			5,042						4,904
Short-term debt and current portion of long-term debt			(983)						(329)
Long-term debt			$	4,059					$	4,575

(1)Included in short-term debt and current portion of long-term debt at June 30, 2024.

(2)Included in short-term debt and current portion of long-term debt at December 31, 2023.

Weighted average interest rates are as follows:

			Three Months Ended June 30,												Six Months Ended  June 30,
			2024						2023						2024						2023
Total debt			6.0		%				5.3		%				5.8		%				5.1		%
Short-term debt			7.5		%				6.8		%				7.8		%				6.5		%

Schedule of Fair Value of Senior Notes

The fair value of the Company’s senior notes are based upon prices of similar instruments in the marketplace and are as follows (in millions):

			June 30, 2024												December 31, 2023
			Fair Value						Book Value						Fair Value						Book Value
Senior notes			$	4,610					$	4,755					$	4,633					$	4,772

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 carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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