Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s debt consists of the following:

(Dollars in millions)	March 31, 2021		December 31, 2020
4.0% Term loan due December 31, 2021(1)	$	—	$	—
7.5% Term loan due November 30, 2022(1)	139		139
5.0% Daylight term loan due October 15, 2024(1)	98		98
Borrowings under revolving credit facility(1)	125		—
Finance lease and other	163		163
Short-term borrowings	19		27
Total debt principal	544		427
Less unamortized debt issuance costs and discounts	—		—
Total debt, net	544		427
Less short-term borrowings and current portion of long-term debt	(171)		(53)
Total long-term debt	$	373	$	374

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(1)The Company’s debt with related parties consists of two term loans and a working capital credit facility with US Holding, as described below.