Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2026

The following table reflects our outstanding debt (in order of priority and maturity):


	As of
	March 31, 2026								December 31, 2025
	Final Maturity	Rate(s)	Face Value		Unamortized debt discount/premium and deferred financing costs, net		Book Value		Book Value
Senior Secured Credit Facilities:
LNWI Revolver	2030	variable	$	210	$	—	$	210	$	230
LNWI Term Loan A	2028	variable	785		(2)		783		788
LNWI Term Loan B	2029	variable	2,135		(17)		2,118		2,116
LNWI Senior Notes:
2029 Unsecured Notes	2029	7.250%	500		(3)		497		497
2031 Unsecured Notes	2031	7.500%	550		(6)		544		544
2033 Unsecured Notes	2033	6.250%	1,000		(14)		986		985
Other	—	—	2		—		2		3
Total long-term debt outstanding			$	5,182	$	(42)	$	5,140	$	5,163
Less: current portion of long-term debt							(58)		(53)
Long-term debt, excluding current portion							$	5,082	$	5,110
Fair value of debt(1)			$	5,184





(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details