v3.25.1
Financial Instruments and Fair Value Measurements - Schedule of Aggregate Principal and Fair Value Amount of Outstanding 2025 Senior Notes, 2026 Senior Notes and Term Loan B Facility (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Carrying value amount $ 1,167 $ 831
Term Loan B Facility    
Debt Instrument [Line Items]    
Aggregate principal amount 350  
Level 2 | 2026 Senior Notes    
Debt Instrument [Line Items]    
Aggregate principal amount 345 345
Unamortized debt issuance costs (1) (2)
Carrying value amount 344 343
Fair value amount 331 [1] 323
Level 2 | Term Loan B Facility    
Debt Instrument [Line Items]    
Aggregate principal amount [2] 847 499
Unamortized debt issuance costs [2] (15) (6)
Carrying value amount [2] 832 493
Fair value amount [2] $ 836 [1] $ 504
[1] We estimate the fair value of the 2026 Senior Notes and Term Loan B Facility based on recently reported market transactions and/or prices for identical or similar financial instruments obtained from a third-party pricing source.
[2] During the first quarter of 2025, the Company increased its existing Term Loan B Facility in the amount of $350 million. Refer to “Note 6: Debt” for further information.