v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Components of Debt

The following table sets forth the components of the Company’s debt at March 31, 2026 and December 31, 2025.

 

 

March 31, 2026

 

 

December 31, 2025

 

Senior secured term loans:

 

 

 

 

 

 

Tranche B-4 U.S. dollar term loan due October 2032

 

$

1,047

 

 

$

1,050

 

Tranche B-3 euro term loan due August 2028
(€415 million at March 31, 2026 and December 31, 2025)

 

 

478

 

 

 

488

 

Senior unsecured notes:

 

 

 

 

 

 

5.375% due May 2027

 

 

—

 

 

 

495

 

5.750% due November 2028

 

 

595

 

 

 

783

 

4.625% due November 2029

 

 

620

 

 

 

620

 

8.000% due January 2033

 

 

600

 

 

 

600

 

7.875% due March 2034

 

 

700

 

 

 

—

 

Finance lease liabilities

 

 

35

 

 

 

39

 

Financing obligation (1)

 

 

92

 

 

 

88

 

Supplier financing obligation (2)

 

 

11

 

 

 

10

 

Other

 

 

5

 

 

 

9

 

Total debt principal

 

 

4,183

 

 

 

4,182

 

Less: Unamortized issue discounts

 

 

(19

)

 

 

(21

)

Less: Unamortized debt issuance costs

 

 

(27

)

 

 

(20

)

Less: Short-term and current maturities of long-term debt

 

 

(37

)

 

 

(42

)

Total long-term debt, net

 

$

4,100

 

 

$

4,099

 
(1)
At March 31, 2026 and December 31, 2025, financing obligation relates to the financed portion of the Company’s research and development facility located in the Science, Technology, and Advanced Research Campus of the University of Delaware in Newark, Delaware (“Chemours Discovery Hub”).
(2)
At March 31, 2026 and December 31, 2025, supplier financing obligation relates to a supplier financing program whose obligations, based on their characteristics, are classified within short-term debt and current maturities of long-term debt. Refer to "Note 13 – Accounts Payable" for further details.
Schedule of Debt Principal Maturities

The following table sets forth the Company’s debt principal maturities for the next five years and thereafter.

 

 

 

Senior Debt

 

 

Finance Lease Liabilities

 

 

Financing Obligation

 

 

Supplier Financing Obligation

 

 

Other

 

 

Total

 

2026

 

$

8

 

 

$

8

 

 

$

6

 

 

$

11

 

 

$

5

 

 

$

38

 

2027

 

 

11

 

 

 

10

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

29

 

2028

 

 

1,083

 

 

 

10

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

1,101

 

2029

 

 

631

 

 

 

5

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

644

 

2030

 

 

10

 

 

 

2

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

20

 

Thereafter

 

 

2,297

 

 

 

6

 

 

 

115

 

 

 

—

 

 

 

—

 

 

 

2,418

 

     Total payments

 

 

4,040

 

 

 

41

 

 

 

153

 

 

 

11

 

 

 

5

 

 

 

4,250

 

Less: Imputed interest

 

 

—

 

 

 

(6

)

 

 

(61

)

 

 

—

 

 

 

—

 

 

 

(67

)

Total principal maturities on debt

 

$

4,040

 

 

$

35

 

 

$

92

 

 

$

11

 

 

$

5

 

 

$

4,183

 
Estimated Fair Values of Senior Debt Issues

The following table sets forth the estimated fair values of the Company’s senior debt issues, which are based on quotes received from third-party brokers, and are classified as Level 2 financial instruments in the fair value hierarchy.

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Carrying
Value

 

 

Fair Value

 

 

Carrying
Value

 

 

Fair Value

 

Senior secured term loans:

 

 

 

 

 

 

 

 

 

 

 

 

Tranche B-4 U.S. dollar term loan due October 2032

 

$

1,047

 

 

$

1,041

 

 

$

1,050

 

 

$

1,038

 

Tranche B-3 euro term loan due August 2028
(€415 million at March 31, 2026 and December 31, 2025)

 

 

478

 

 

 

476

 

 

 

488

 

 

 

493

 

Senior unsecured notes:

 

 

 

 

 

 

 

 

 

 

 

 

5.375% due May 2027

 

 

—

 

 

 

—

 

 

 

495

 

 

 

496

 

5.750% due November 2028

 

 

595

 

 

 

590

 

 

 

783

 

 

 

761

 

4.625% due November 2029

 

 

620

 

 

 

583

 

 

 

620

 

 

 

562

 

8.000% due January 2033

 

 

600

 

 

 

603

 

 

 

600

 

 

 

581

 

7.875% due March 2034

 

 

700

 

 

 

701

 

 

 

—

 

 

 

—

 

Total senior debt principal

 

 

4,040

 

 

$

3,994

 

 

 

4,036

 

 

$

3,931

 

Less: Unamortized issue discounts

 

 

(19

)

 

 

 

 

 

(21

)

 

 

 

Less: Unamortized debt issuance costs

 

 

(27

)

 

 

 

 

 

(20

)

 

 

 

Total senior debt, net

 

$

3,994

 

 

 

 

 

$

3,995