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Debt (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of 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, 2025 |  | December 31, 2024
2024 Term Loan Facility, net of unamortized discount(1) | 741 |  |  | Variable |  | 4/4/2029 |  | 731 |  |  | 735 |
2024-B Term Loan Facility, net of unamortized discount(1) | 902 |  |  | Variable |  | 9/30/2031 |  | 887 |  |  | 896 |
Senior Notes due 2029 | 1,075 |  |  | 4.63 | % |  | 3/15/2029 |  | 1,075 |  |  | 1,075 |
Senior Secured Notes due 2030 | 400 |  |  | 9.13 | % |  | 9/30/2030 |  | 400 |  |  | — |
RMB Term Loan Facility(1) | 64 |  |  | Variable |  | 8/16/2029 |  | 57 |  |  | 58 |
Australian Government Loan, net of unamortized discount | N/A |  | N/A |  | 12/31/2036 |  | 2 |  |  | 1 |
MGT Loan(2) | 36 |  |  | Variable |  | Variable |  | 13 |  |  | 19 |
Finance leases |  |  |  |  |  |  | 39 |  |  | 42 |
Long-term debt |  |  |  |  |  |  | 3,204 |  |  | 2,826 |
Less: Long-term debt due within one year |  |  |  |  |  |  | (39) |  |  | (35) |
Debt issuance costs |  |  |  |  |  |  | (33) |  |  | (32) |
Long-term debt, net |  |  |  |  |  |  | $ | 3,132 |  |  | $ | 2,759 |
(1)The average effective interest rate on the 2024 Term Loan Facility, including the impacts of the interest rate swaps, was 6.5% and 7.7% for the year ended December 31, 2025 and 2024, respectively. The average effective interest rate on the 2024-B Term Loan Facility, including the impacts of the interest rate swaps) was 6.5% and 6.1% for the year ended December 31, 2025 and 2024, respectively. The average effective interest rate on the RMB Term Loan Facility was 9.8% and 10.4% for the year ended December 31, 2025 and 2024, respectively. (2)The MGT loan is a related party debt facility. Average effective interest rate on the MGT loan was 6.1% during both the year ended December 31, 2025 and 2024. Refer below for further details.
Schedule of Maturities of Long-term Debt | At December 31, 2025, the scheduled maturities of our long-term debt were as follows:
| Total Borrowings
2026 | 39 |
2027 | 37 |
2028 | 31 |
2029 | 1,833 |
2030 | 415 |
Thereafter | 859 |
Total | 3,214 |
Remaining accretion associated with the 2024 Term Loan Facility and the 2024-B Term Loan Facility | (10) |
Total borrowings | 3,204 |
Schedule of Short-Term Debt | Short-term debt consisted of the following:
| Annual Interest Rate |  | Maturity Date |  | December 31, 2025 |  | December 31, 2024
Cash Flow Revolver | Variable |  | 8/15/2029 |  | — |  |  | 33 |
RMB Revolving Credit Facility | Variable |  | 8/16/2027 |  | — |  |  | 21 |
SEB Credit Facility | 4.9 | % |  | 2/28/2026 |  | 40 |  |  | — |
Insurance premium financing (Australia) | 6.4 | % |  | 3/1/2026 |  | 1 |  |  | — |
Insurance premium financing (global) | 8.0 | % |  | 4/1/2026 |  | 10 |  |  | 11 |
Short-term debt |  |  |  |  | $ | 51 |  |  | $ | 65 |
Schedule of Interest and Debt Expense, Net | Interest and debt expense, net in the Consolidated Statements of Operations consisted of the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Interest on debt | $ | 185 |  |  | $ | 168 |  |  | $ | 157 |
Amortization of deferred debt issuance costs and discounts on debt | 10 |  |  | 10 |  |  | 9 |
Capitalized interest | (17) |  |  | (21) |  |  | (17) |
Interest on capital leases and letters of credit and commitments | 9 |  |  | 10 |  |  | 9 |
Inventory financing arrangement (Note 8) | $ | 2 |  |  | $ | — |  |  | $ | — |
Total interest and debt expense, net | $ | 189 |  |  | $ | 167 |  |  | $ | 158 |

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