Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s debt consists of the following:

(Dollars in millions)	March 31, 2022		December 31, 2021
7.5% Term loan due November 30, 2023(1)	139		139
5.0% Daylight term loan due October 15, 2024(1)	78		78
Borrowings under revolving credit facility(1)	150		—
Finance lease and other	164		161
Short-term borrowings	9		15
Total debt principal	540		393
Less unamortized debt issuance costs and discounts	—		—
Total debt, net	540		393
Less short-term borrowings and current portion of long-term debt	(186)		(41)
Total long-term debt	$	354	$	352

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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.