v3.26.1
DEBT AND CREDIT FACILITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
The following represents a summary of our long-term debt:
(In millions)
Debt InstrumentAnnual Effective
Interest Rate		June 30,
2026		December 31,
2025
Senior Unsecured Notes:
4.625% 2029 Senior Notes
4.625%368 368 
6.875% 2029 Senior Notes
6.875%900 900 
6.750% 2030 Senior Notes
6.750%750 750 
4.875% 2031 Senior Notes
4.875%325 325 
7.500% 2031 Senior Notes
7.500%850 850 
7.000% 2032 Senior Notes
7.054%1,425 1,425 
7.375% 2033 Senior Notes
7.375%900 900 
7.625% 2034 Senior Notes
7.516%1,125 1,125 
6.250% 2040 Senior Notes
6.340%235 235 
ABL Facility
Variable1
895 452 
Total principal amount7,773 7,330 
Unamortized discounts and issuance costs(70)(77)
Total long-term debt$7,703 $7,253 
1 Our ABL Facility annual effective interest rate was 5.143% as of June 30, 2026.
The following represents a summary of our borrowing capacity under our ABL Facility:
(In millions)June 30,
2026
Available borrowing base on ABL Facility1
$3,969 
Borrowings(895)
Letter of credit obligations2
(60)
Borrowing capacity available$3,014 
1 As of June 30, 2026, our ABL Facility has a maximum available borrowing base of $4.75 billion. The borrowing base is determined by applying customary advance rates to eligible accounts receivable, inventory and certain mobile equipment.
2 We issued standby letters of credit with certain financial institutions in order to support business obligations, including, but not limited to, operating agreements, employee severance, environmental obligations, workers' compensation and insurance obligations.
Schedule of Maturities of Long-term Debt
The following represents a summary of our maturities of debt instruments based on the principal amounts outstanding as of June 30, 2026 (in millions):
20262027202820292030ThereafterTotal
$— $— $895 $1,268 $750 $4,860 $7,773