v3.26.1
LONG-TERM DEBT AND LINES OF CREDIT (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt The Company had the following outstanding amounts of long-term debt (in millions):
June 30, 2026
December 31, 2025
Long-term debt and lines of credit:
Asset based revolving credit facility, bearing interest at a rate of 5.00%,
secured by equipment and other current assets .........................................
$1,554
$1,196
Senior Secured Second Lien Notes bearing interest at a rate of 9.00% ........
1,034
1,034
Senior Secured Second Lien Notes bearing interest at a rate of 8.625% ......
600
600
Senior Secured Second Lien Notes bearing interest at a rate of 8.00% ........
500
500
Notes payable to various institutions, bearing interest at rates ranging
from 3.75% to 5.10%, maturing through 2029, secured by specific
equipment .................................................................................................
–
2
Equipment financing lines of credit with various institutions, bearing
interest at rates primarily ranging from —% to 9.62%, maturing
through 2026 .............................................................................................
3
3
Total long-term debt and lines of credit .............................................................
3,691
3,335
Less: original issue discounts .............................................................................
(17)
(22)
Less: debt issuance costs ....................................................................................
(37)
(41)
3,637
3,272
Less: current maturities ......................................................................................
(2)
(4)
Long-term debt and lines of credit, net of current portion, original issue
discounts, and debt issuance costs ..................................................................
$3,635
$3,268