v3.25.2
Debt (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt

The Company’s outstanding debt was as follows:

 

 

June 30, 2025

 

 

December 31, 2024

 

Short-term debt:

 

 

 

 

 

 

Term Loan Facility

 

$

51

 

 

$

50

 

Long-term debt:

 

 

 

 

 

 

Term Loan Facility

 

$

3,051

 

 

$

3,199

 

Debt issuance costs - Term Loan Facility

 

 

(70

)

 

 

(85

)

     Term Loan Facility, net

 

 

2,981

 

 

 

3,114

 

Convertible Notes

 

 

1,400

 

 

 

1,400

 

Debt issuance costs - Convertible Notes

 

 

(24

)

 

 

(26

)

     Convertible Notes, net

 

 

1,376

 

 

 

1,374

 

     Total long-term debt, net

 

$

4,357

 

 

$

4,488

 

Schedule of Contractual Maturities of Debt Obligations

Contractual maturities of the Company’s debt obligations as of June 30, 2025 are as follows:

Year

 

Amount

 

2025 (remaining)

 

$

25

 

2026

 

 

51

 

2027

 

 

51

 

2028

 

 

51

 

2029

 

 

2,924

 

2030

 

 

1,400

 

 

Schedule of Interest Expense

The Company’s interest expense was as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Term Loan Facility:

 

 

 

 

 

 

 

 

 

 

 

 

     Contractual interest expense

 

$

48

 

 

$

82

 

 

$

98

 

 

$

177

 

     Amortization of debt issuance costs as interest
     expense

 

 

5

 

 

 

7

 

 

 

10

 

 

 

15

 

Total interest expense on Term Loan Facility

 

$

53

 

 

$

89

 

 

$

108

 

 

$

192

 

Convertible Notes:

 

 

 

 

 

 

 

 

 

 

 

 

     Contractual interest expense

 

$

4

 

 

$

2

 

 

$

9

 

 

$

2

 

     Amortization of debt issuance costs as
     interest expense

 

 

1

 

 

 

1

 

 

 

2

 

 

 

1

 

Total interest expense on Convertible Notes

 

$

5

 

 

$

3

 

 

$

11

 

 

$

3

 

Other interest (income) expense, net (1)

 

$

(3

)

 

$

(13

)

 

$

(11

)

 

$

(29

)

Total interest expense

 

$

55

 

 

$

79

 

 

$

108

 

 

$

166

 

 

(1)
Other interest (income) expense, net primarily consists of interest (income) expense related to the Company’s interest rate swap and interest rate cap agreements.