XML 64 R50.htm IDEA: XBRL DOCUMENT

Debt (Schedule of Short-term Debt) (Details) - USD ($)
$ in Millions

Jun. 30, 2022

Dec. 31, 2021

Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates

Current installments of long-term debt

$ 525

$ 527

Short-term borrowings, including amounts due to affiliates(1)

^[1]

39

64

$ 809

$ 791

Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates

Weighted average interest rate, short-term borrowings

0.20%

0.20%

Revolving Credit Facility

Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates

Weighted average interest rate, short-term borrowings

3.00%

1.40%

Revolving Credit Facility

Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates

Revolving credit facility(2)

^[2]

$ 245

$ 200

Revolving Credit Facility | Revolving Credit Facility

Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates

Revolving credit facility(2)

^[3]

$ 245

[1]	The weighted average interest rate was 0.2% and 0.2% as of June 30, 2022 and December 31, 2021, respectively.
[2]	The weighted average interest rate was 3.0% and 1.4% as of June 30, 2022 and December 31, 2021, respectively.
[3]	The Company borrowed $365 million under its new senior unsecured revolving credit facility to repay and terminate its previous unsecured revolving credit facility and repaid $120 million under its new senior unsecured revolving credit facility during the six months ended June 30, 2022. The Company borrowed $165 million and repaid $365 million under its previous unsecured revolving credit facility during the three months ended March 31, 2022.

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details