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Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt, Net of an 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						September 30, 2024						December 31, 2023
Term Loan Facility, net of unamortized discount (1)			1,300						Variable						3/11/2028						$	—					$	898
2022 Term Loan Facility, net of unamortized discount(1)			400						Variable						4/4/2029						—						390
2023 Term Loan Facility, net of unamortized discount(1)			350						Variable						8/16/2028						—						347
2024 Term Loan Facility, net of unamortized discount(1)			741						Variable						4/4/2029						735						—
2024-B Term Loan Facility, net of unamortized discount(1)			902						Variable						9/30/2031						896						—
Senior Notes due 2029			1,075						4.625		%				3/15/2029						1,075						1,075
Standard Bank Term Loan Facility(1)			98						Variable						11/11/2026						—						64
RMB Term Loan Facility(1)			64						Variable						8/16/2029						63						—
Australian Government Loan, net of unamortized discount			N/A						N/A						12/31/2036						2						1
MGT Loan(2)			36						Variable						Variable						20						25
Finance leases																					43						43
Long-term debt																					2,834						2,843
Less: Long-term debt due within one year																					(34)						(27)
Debt issuance costs																					(33)						(30)
Long-term debt, net																					$	2,767					$	2,786

_______________

(1)The average effective interest rate on the Term Loan Facility (including the impacts of the interest rate swaps), the 2022 Term Loan Facility, the 2023 Term Loan Facility, the 2024 Term Loan Facility (including the impacts of the interest rate swaps), the 2024-B Term Loan Facility (including the impacts of the interest rate swaps), the Standard Bank Term Loan Facility and the RMB Term Loan Facility was 5.9%, 9.2%, 9.3%, 4.9%, 5.9%, 10.8% and 10.5%, respectively, during the nine months ended September 30, 2024. The average effective interest rate on the Term Loan Facility (including the impacts of the interest rate swaps), the 2022 Term Loan Facility, the 2023 Term Loan Facility and the Standard Bank Term Loan Facility was 6.0%, 8.6%, 9.3% and 10.2%, respectively, during the nine months ended September 30, 2023. As of September 30, 2024, the applicable margin on the 2024 Term Loan Facility, the 2024-B Term Loan Facility and the RMB Term Loan Facility was 2.75%, 2.50% and 2.35%, respectively.

(2)The MGT loan is a related party debt facility. The average effective interest rate on the MGT loan was 6.1% and 6.0% during the nine months ended September 30, 2024 and September 30, 2023, respectively.

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- Definition

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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