Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt

Debt

Changes in debt (in millions) were as follows:

	For the Three Months Ended March 31,
	2024
Balance as of beginning-of-year	$	5,949
Issuance of 5.852% Senior Notes due 2034	350
Partial repayment of variable rate term loan, due 2024 (1)	(47)
Unamortized debt issuance costs	(2)
Unamortized adjustments from discontinued hedges	(4)
Fair value hedge on interest rate swap agreements	(17)
Balance as of end-of-period	$	6,229

(1) Term loan uses a Secured Overnight Financing Rate (“SOFR”)-based interest rate, plus transition spread of 10 basis points and credit spread of 112.5 basis points.