v3.26.3
Long-Term Debt and Borrowing Arrangements (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Company's Indebtedness
The Company’s indebtedness consisted of:
September 30, 2026December 31, 2025
Long-term debt: (a)
Amount
Weighted Average Rate (b)
Amount
Weighted Average Rate (b)
$1.0 billion revolving credit facility (due October 2030)
$83 5.11%$224 6.03%
$1.5 billion term loan B (due May 2030)
1,491 5.33%1,502 5.42%
$650 million 5.625% senior unsecured notes (due March 2033)
641 5.63%— 
$500 million 4.375% senior unsecured notes (due August 2028)
498 4.38%497 4.38%
$400 million term loan A (due April 2027)
— 5.21%337 6.10%
Other debt14 2.12%— 
Total long-term debt2,727 5.21%2,560 5.36%
Less: Current portion of long-term debt23 45 
Long-term debt$2,704 $2,515 
______________________
(a)    The carrying amount of the term loans and senior unsecured notes are net of deferred debt issuance costs of $17 million and $10 million as of September 30, 2026 and December 31, 2025, respectively. The carrying amount of the term loan B is net of unamortized discounts of $4 million as of both September 30, 2026 and December 31, 2025.
(b)    Weighted average interest rates are based on the stated interest rate for the year-to-date periods and include the effects of hedging.
Schedule of Outstanding Debt Maturities
The Company’s outstanding debt as of September 30, 2026 matures as follows:
Long-Term Debt
Within 1 year$23 
Between 1 and 2 years519 
Between 2 and 3 years15 
Between 3 and 4 years1,446 
Between 4 and 5 years83 
Thereafter641 
Total$2,727 
Schedule of Available Capacity Under Borrowing Arrangements
As of September 30, 2026, the available capacity under the Company’s revolving credit facility was as follows:
Revolving Credit Facility
Total capacity$1,000 
Less: Borrowings83 
Available capacity$917