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Debt (Tables)
3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt Outstanding

Debt outstanding consisted of the following (in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

Maturity Date

 

2023

 

 

2022

 

Term Loan

 

May 1, 2024

 

$

 

 

 

$

 

65

 

Term Loan, B-1(1)

 

August 31, 2028

 

 

 

2,507

 

 

 

 

2,448

 

Secured Senior Notes

 

June 1, 2025

 

 

 

309

 

 

 

 

310

 

$300 million Revolving Credit Facility, Amended

 

August 31, 2026

 

 

 

 

 

 

 

 

Total debt, net

 

 

 

 

 

2,816

 

 

 

 

2,823

 

Less: current portion of long-term debt, net

 

 

 

 

 

(25

)

 

 

 

(31

)

Total long-term debt, net

 

 

 

$

 

2,791

 

 

$

 

2,792

 

 

(1)
The net balance for the B-1 Term Loan at March 31, 2023 includes unamortized debt issuance costs of $9 million. The net balance for the B-1 Term Loan at December 31, 2022 includes unamortized debt issuance costs of $8 million.
Schedule of Aggregate Remaining Contractual Principal Payments

Aggregate remaining contractual principal payments as of March 31, 2023 are as follows (in millions):

2023

 

$

 

19

 

2024

 

 

 

25

 

2025

 

 

 

325

 

2026

 

 

 

25

 

2027

 

 

 

25

 

Thereafter

 

 

 

2,395

 

Total payments

 

$

 

2,814