v3.26.1
Debt and Letters of Credit
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt and Letters of Credit Debt and Letters of Credit
Debt consisted of the following:
(in millions)June 30,
2026
December 31, 2025
Credit facility borrowings$— $— 
Senior Notes
2028 Notes (4.250% Senior Notes)
506 506 
Unamortized discount and deferred financing costs(1)(2)
2029 Notes (1.125% Convertible Senior Notes)
575 575 
Unamortized deferred financing costs(8)(9)
Total debt$1,072 $1,070 

Credit Facility

As of June 30, 2026, letters of credit totaling $335 million were outstanding under our $2.2 billion credit facility, which matures in February 2028. As of June 30, 2026, we had not made any borrowings under our credit facility line and maintained a borrowing capacity of $903 million.
Uncommitted Lines of Credit
As of June 30, 2026, letters of credit totaling $762 million were outstanding under uncommitted lines of credit.