Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2026

The following table reflects our outstanding debt (in order of priority and maturity):


	As of
	September 30, 2026								December 31, 2025
	Final Maturity	Rate(s)	Face Value		Unamortized debt discount/premium and deferred financing costs, net		Book Value		Book Value
Senior Secured Credit Facilities:
LNWI Revolver	2030	variable	$	70	$	—	$	70	$	230
LNWI Term Loan A	2028	variable	770		(2)		768		788
LNWI Term Loan B	2029	variable	2,124		(15)		2,109		2,116
LNWI Senior Notes:
2029 Unsecured Notes	2029	7.250%	500		(3)		497		497
2031 Unsecured Notes	2031	7.500%	550		(5)		545		544
2033 Unsecured Notes	2033	6.250%	1,000		(13)		987		985
Other	—	—	5		—		5		3
Total long-term debt outstanding			$	5,019	$	(38)	$	4,981	$	5,163
Less: current portion of long-term debt							(64)		(53)
Long-term debt, excluding current portion							$	4,917	$	5,110
Fair value of debt(1)			$	4,982





(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details