Debt |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Debt Disclosure [Abstract] | |
| Debt | 8. Debt The Company has a note purchase agreement with an original principal amount of $350 million and a committed revolving credit facility of $50 million, both of which mature in November 2030. None of the $50 million revolving credit facility has been drawn upon. The outstanding balance of the note purchase agreement of $341 million and $350 million as of June 30, 2025 and December 31, 2024, respectively, is secured by substantially all of the assets of subsidiaries of the Company, primarily in the form of guarantees issued by respective subsidiaries. Interest expense was $9 million and $17 million for the three and six months ended June 30, 2025 and $7 million and $13 million for the three and six months ended June 30, 2024, respectively. The Company was in compliance with all debt covenants at June 30, 2025.
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