Long-term Debt and Credit Agreements (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Principal Outstanding And Carrying Amount of Long term Debt

The principal outstanding and carrying amounts of our long-term debt as of December 31, 2024 and 2023 are as follows:


			December 31,
(Dollars in millions)	Maturity Date	Interest Rate	2024		2023
2021 Dollar Term Facility	April 30, 2028	SOFR plus 275 bps	$	692	$	699
2023 Dollar Term Facility	April 30, 2028	SOFR plus 450 bps	—		500
Euro Term Facility	April 30, 2028	EURIBOR plus 350 bps	—		497
2032 Senior Notes	May 31, 2032	7.75%	800		—
Other			1		—
Total principal outstanding			1,493		1,696
Less: unamortized deferred financing costs			(22)		(46)
Less: current portion of long-term debt			(7)		(7)
Total long-term debt			$	1,464	$	1,643

Schedule of Principal Repayments Of Credit Facilities

The following table summarizes the minimum scheduled principal repayments of long-term debt as of December 31, 2024:


	December 31,
	(Dollars in millions)
2025	$	7
2026	7
2027	7
2028	672
2029	—
Thereafter	800
Total payments on long-term debt	$	1,493

- 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