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Debt (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Summary of Outstanding Debt

The Company’s outstanding debt consisted of the following as of the dates presented:

December 31, 2023

 

Outstanding Principal Amount

 

 

Unamortized Debt Issuance Costs

 

 

Carrying Value

 

 

 

(in millions)

 

Long-Term Debt:

 

 

 

 

 

 

 

 

 

2025 Senior Notes

 

$

500

 

 

$

(3

)

 

$

497

 

2026 Senior Notes

 

 

345

 

 

 

(3

)

 

 

342

 

Total Long-Term Debt

 

$

845

 

 

$

(6

)

 

$

839

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

Outstanding Principal Amount

 

 

Unamortized Debt Issuance Costs

 

 

Carrying Value

 

 

 

(in millions)

 

Long-Term Debt:

 

 

 

 

 

 

 

 

 

2025 Senior Notes

 

$

500

 

 

$

(5

)

 

$

495

 

2026 Senior Notes

 

 

345

 

 

 

(4

)

 

 

341

 

Total Long-Term Debt

 

$

845

 

 

$

(9

)

 

$

836