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Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Long-Term Debt, Net of Unamortized Discount and Debt Issuance Costs | Long-term debt, net of an unamortized discount and debt issuance costs, consisted of the following:
| Original Principal |  | Annual Interest Rate |  | Maturity Date |  | December 31, 2022 |  | December 31, 2021
Term Loan Facility, net of unamortized discount(1) | $ | 1,300 |  |  | Variable |  | 3/11/2028 |  | $ | 898 |  |  | $ | 897 |
2022 Term Loan Facility, net of unamortized discount(1) | 400 |  |  | Variable |  | 4/4/2029 |  | 393 |  |  | — |
Senior Notes due 2029 | 1,075 |  |  | 4.63 | % |  | 3/15/2029 |  | 1,075 |  |  | 1,075 |
6.5% Senior Secured Notes due 2025 | 500 |  |  | 6.50 | % |  | 5/1/2025 |  | — |  |  | 500 |
Standard Bank Term Loan Facility(1) | 98 |  |  | Variable |  | 11/11/2026 |  | 77 |  |  | 92 |
Australian Government Loan, net of unamortized discount | N/A |  | N/A |  | 12/31/2036 |  | 1 |  |  | 1 |
MGT Loan(2) | 36 |  |  | Variable |  | Variable |  | 30 |  |  | 33 |
Finance leases |  |  |  |  |  |  | 47 |  |  | 14 |
Long-term debt |  |  |  |  |  |  | 2,521 |  |  | 2,612 |
Less: Long-term debt due within one year |  |  |  |  |  |  | (24) |  |  | (18) |
Debt issuance costs |  |  |  |  |  |  | (33) |  |  | (36) |
Long-term debt, net |  |  |  |  |  |  | $ | 2,464 |  |  | $ | 2,558 |
(1)The average effective interest rate, including impacts of our interest rate swap, for the Term Loan Facility was 4.8% and 5.1% for the year ended December 31, 2022 and 2021, respectively. The average effective interest rate on the Standard Bank Term Loan Facility was 7.2% and 7.3% for the year ended December 31, 2022 and 2021, respectively. The average effective interest rate on the 2022 Term Loan Facility was 5.8% for the year ended December 31, 2022. (2)The MGT loan is a related party debt facility. Average effective interest rate on the MGT loan was 4.4% and 3.1% d uring the year ended December 31, 2022 and 2021, respectively. Refer below for further details.
Schedule of Maturities of Long-term Debt | At December 31, 2022, the scheduled maturities of our long-term debt were as follows:
| Total Borrowings
2023 | 20 |
2024 | 21 |
2025 | 22 |
2026 | 63 |
2027 | 6 |
Thereafter | 2,397 |
Total | 2,529 |
Remaining accretion associated with the Term Loan Facility and the 2022 Term Loan Facility | (8) |
Total borrowings | 2,521 |
Interest and Debt Expense, Net | Interest and debt expense, net in the Consolidated Statements of Income consisted of the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Interest on debt | $ | 132 |  |  | $ | 148 |  |  | $ | 174 |
Amortization of deferred debt issuance costs and discounts on debt | 8 |  |  | 11 |  |  | 10 |
Capitalized interest | (17) |  |  | (7) |  |  | (2) |
Interest on capital leases and letters of credit and commitments | 2 |  |  | 5 |  |  | 7 |
Total interest and debt expense, net | $ | 125 |  |  | $ | 157 |  |  | $ | 189 |

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