DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following table summarizes the Company’s outstanding debt:

		December 31, 2023				September 30, 2024
	Maturity	Amount (in millions)		Effective Interest Rate		Amount (in millions)		Effective Interest Rate
Long-term debt
2026 Notes	2026	1,250		12.0	%	1,250		11.9	%
2029 Green Convertible Notes	2029	1,500		4.9	%	1,500		4.9	%
2030 Green Convertible Notes	2030	1,725		3.8	%	1,725		3.8	%
2026 Convertible Note (at fair value)	2026	—		—	%	1,030		4.8	%
Total long-term debt		4,475				5,505
Less unamortized discount and debt issuance costs		(44)				(37)
Long-term debt, less unamortized discount and debt issuance costs		$	4,431			$	5,468

Schedule of Change in Fair Value of 2026 Convertible Notes

The change in fair value of the 2026 Convertible Note as of September 30, 2024 was as follows (in millions):

	2026 Convertible Note
Proceeds received upon issuance	$	1,000
Loss on issuance	140
Issue-date estimated fair value	1,140
Gain on change in fair value	(50)
Fair value as of June 30, 2024	1,090
Gain on change in fair value	(60)
Fair value as of September 30, 2024	$	1,030

The following table presents the difference between the fair value and the unpaid principal balance of the 2026 Convertible Note as of September 30, 2024 (in millions):

	Fair Value		Unpaid Principal Balance		Fair Value Loss on Convertible Note, Net
2026 Convertible Note	$	1,030	$	1,000	$	30