v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
The Company’s outstanding debt consisted of the following:
MaturityEffective Interest RateJune 30,
2026		December 31,
2025
Convertible Senior Notes due 2027 ("2027 Convertible Notes")August 1, 20270.90%$633 $633 
Term Loan B due 2032 ("Term Loan")July 3, 20325.95%995 997 
6.750% Senior Notes due 2032 ("2032 Senior Notes")
August 15, 20326.90%1,650 1,650 
5.500% Senior Notes due 2033 ("2033 Euro Notes")
May 15, 20335.55%1,271 1,309 
Total debt principal

4,549 4,589 
Less: Unamortized capitalized financing fees(52)(58)
Plus: Unamortized premium14 15 
Total debt$4,511 $4,546 
Current portion of debt$10 $10 
Long-term debt4,501 4,536 
Total debt$4,511 $4,546 
The amortization of capitalized financing fees and accretion of debt premiums are included within “Interest expense” in the Company’s unaudited Condensed Consolidated Statements of Operations. Amortization expense for capitalized financing fees, net of premium accretion, was $2 million and $5 million for the three and six months ended June 30, 2026, respectively, and $6 million and $9 million for the three and six months ended June 30, 2025, respectively.
Future principal payments
As of June 30, 2026, future principal payments associated with the Company’s debt were as follows:
2026 (remaining six months)$5 
2027643 
202810 
202910 
203010 
Thereafter3,871 
Total$4,549 
Credit Facilities
As of June 30, 2026, there were no borrowings outstanding under the Revolving Credit Facility, and borrowing capacity on the Revolving Credit Facility was $550 million. See Note 20 - Subsequent Events for more information on the Revolving Credit Facility.
Settlement Line Agreement
The Company has a Settlement Line Credit Agreement (the “Settlement Line Agreement”) with an aggregate available amount of $125 million. As of June 30, 2026, borrowings against the Settlement Line amounted to $106 million which have been deposited in an account owned and controlled by the Company’s sponsor bank. The deposit and borrowing have been netted on the Company’s unaudited Condensed Consolidated Balance Sheets because a right of offset exists and the parties intend to net settle.
Restrictions and Covenants
The 2027 Convertible Notes, 2032 Senior Notes, 2033 Euro Notes (collectively, the “Notes”) and Credit Facilities include certain restrictions on the ability of Shift4 Payments, LLC to make loans, advances, or pay dividends to Shift4 Payments, Inc.
As of June 30, 2026 and December 31, 2025, the Company was in compliance with all financial covenants under its debt agreements.