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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The following is a summary of outstanding debt, net of unamortized issuance costs and original issue discount, at December 31, (in millions):
| 2024 |  | 2023
4.000% senior notes due 2024 (1) | $ | — |  |  | $ | 198 |
4.875% senior notes due 2025 | — |  |  | 498 |
3.900% senior notes due 2025 (2) | 47 |  |  | 47 |
4.200% senior notes due 2026 | 1,233 |  |  | 1,980 |
6.375% senior notes due 2027 | 486 |  |  | 488 |
6.625% senior notes due 2029 | 477 |  |  | 486 |
6.375% senior notes due 2030 | 741 |  |  | — |
6.625% senior notes due 2032 | 494 |  |  | — |
5.375% senior notes due 2036 | 417 |  |  | 417 |
5.500% senior notes due 2046 | 658 |  |  | 658 |
Revolving credit facility (1) (2) | 40 |  |  | 131 |
Other debt | 2 |  |  | 1 |
Total debt | 4,595 |  |  | 4,904 |
Short-term debt and current portion of long-term debt | (87) |  |  | (329) |
Long-term debt | $ | 4,508 |  |  | $ | 4,575 |
(1)Included in short-term debt and current portion of long-term debt at December 31, 2023. (2)Included in short-term debt and current portion of long-term debt at December 31, 2024. Weighted average interest rates for the years ended December 31, are as follows:
|  | 2024 |  | 2023 |  | 2022
Total debt | 5.8% |  | 5.2% |  | 4.3%
Short-term debt | 8.0% |  | 6.9% |  | 4.0%
Schedule of Maturities of Long-term Debt | The Company’s debt maturities for the five years following December 31, 2024 and thereafter are as follows (in millions):
2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
$87 |  | $1,235 |  | $500 |  | $2 |  | $500 |  | $2,336 |  | $4,660
Schedule of Fair Value of Senior Notes | The fair values of the Company’s senior notes are based on quoted market prices and are as follows at December 31, (in millions):
| 2024 |  | 2023
| Fair Value |  | Book Value |  | Fair Value |  | Book Value
Senior notes | $ | 4,624 |  |  | $ | 4,553 |  |  | $ | 4,633 |  |  | $ | 4,772 |

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- 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
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