The fair values of certain financial instruments and the hierarchy level we used to estimate the fair values are shown below:


	September 30, 2026
			Hierarchy Level
	Carrying Value(1)		Level 1		Level 2		Level 3
	(in millions)
Liabilities:
Long-term debt(2)	$	13,119	$	9,439	$	—	$	3,127


	December 31, 2025
			Hierarchy Level
	Carrying Value(1)		Level 1		Level 2		Level 3
	(in millions)
Assets:
Interest rate swap(3)	$	7	$	—	$	7	$	—
Liabilities:
Long-term debt(2)	12,119		8,922		—		3,142

(1)The fair values of cash equivalents and restricted cash equivalents approximate their carrying values due to their short-term maturities. The fair values of all other financial instruments not included in these tables are estimated to be equal to their carrying values.

(2)The carrying values and fair values exclude the deduction for unamortized deferred financing costs and any applicable discounts, as well as all finance lease liabilities; refer to Note 4: "Debt" for additional information.

(3)In March 2026, our interest rate swap with a notional amount of $1.6 billion matured. As such, the Company does not have any interest rate swaps outstanding as of September 30, 2026.