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Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt

Long-term Debt

​

​	​	​	​	​	​	​	​	​	​	​
​	​	March 31,		​	December 31,		​	March 31,		​
​		2025			2024			2024		​
Secured Credit Agreement:	​	​	​	​	​	​	​	​	​	​
Revolving Credit Facility:	​	​	​	​	​	​	​	​	​	​
Revolving Loans	​	$	185	​	$	—	​	$	—	​
Term Loans:	​	​	​	​	​	​	​	​	​	​
Term Loan A	​	​	1,338	​	​	1,338	​	​	1,391	​
Senior Notes:	​	​	​	​	​	​	​	​	​	​
3.125%, due 2024 (€58 million)	​	​	​	​	​	​	​	​	62	​
6.375%, due 2025	​	​	​	​	​	​	​	​	299	​
5.375%, due 2025	​	​	​	​	​	17	​	​	17	​
2.875%, due 2025 (€176 million at December 31, 2024 and €500 million at March 31, 2024)	​	​	​	​	​	183	​	​	537	​
6.625%, due 2027	​	​	609	​	​	609	​	​	608	​
6.250%, due 2028 (€600 million)	​	​	645	​	​	619	​	​	640	​
5.250%, due 2029 (€500 million)	​	​	535	​	​	514	​	​	​	​
4.750%, due 2030	​	​	397	​	​	397	​	​	396	​
7.250%, due 2031	​	​	683	​	​	683	​	​	682	​
7.375%, due 2032	​	​	296	​	​	296	​	​	​	​
Finance leases	​	​	192	​	​	195	​	​	181	​
Other	​		9	​	​	8	​	​	2	​
Total long-term debt	​		4,889	​		4,859	​	​	4,815	​
Less amounts due within one year	​		103	​	​	306	​	​	696	​
Long-term debt	​	$	4,786	​	$	4,553	​	$	4,119	​

Fair values of the Company's significant fixed rate debt obligations

​	​	​	​	​	​	​	​	​	​	​
​	​	Principal		​	Indicated Market		​	​		​
​		Amount			Price			Fair Value		​
Senior Notes:	​	​	​	​	​	​	​	​	​	​
6.625%, due 2027	​	$	612	​	​	99.69	​	$	610	​
6.250%, due 2028 (€600 million)	​	​	650	​	​	102.75	​	​	668	​
5.250%, due 2029 (€500 million)	​	​	542	​	​	100.66	​	​	546	​
4.750%, due 2030	​	​	400	​	​	92.14	​	​	369	​
7.250%, due 2031	​	​	690	​	​	97.76	​	​	675	​
7.375%, due 2032	​	​	300	​	​	95.91	​	​	288	​

​

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Tabular disclosure of fair values of significant fixed rate obligations as on the balance sheet date.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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