Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt

6. Debt

Credit Facilities

As of March 31, 2023 and December 31, 2022, we had $1.5 billion available under a revolving credit facility (the “Revolver”) pursuant to a credit agreement entered into on October 11, 2013 (as amended thereafter and from time to time, the “Credit Agreement”). To date, we have not drawn on the Revolver and we were in compliance with the terms of the Credit Agreement as of March 31, 2023. The Revolver is scheduled to mature on August 24, 2023.

Refer to Note 13 contained in our Annual Report on Form 10-K for the year ended December 31, 2022 for further details regarding the Credit Agreement and its key terms.

Unsecured Senior Notes

As of March 31, 2023 and December 31, 2022, we had $3.7 billion of gross unsecured senior notes outstanding. A summary of our outstanding unsecured senior notes is as follows (amounts in millions):

				At March 31, 2023				At December 31, 2022
Unsecured Senior Notes	Interest Rate	Semi-Annual Interest Payments Due On	Maturity	Principal		Fair Value (Level 2)		Principal		Fair Value (Level 2)
2026 Notes	3.40%	Mar. 15 & Sept. 15	Sept. 2026	$	850	$	823	$	850	$	810
2027 Notes	3.40%	Jun. 15 & Dec. 15	Jun. 2027	400		384		400		378
2030 Notes	1.35%	Mar. 15 & Sept. 15	Sept. 2030	500		406		500		391
2047 Notes	4.50%	Jun. 15 & Dec. 15	Jun. 2047	400		378		400		353
2050 Notes	2.50%	Mar. 15 & Sept. 15	Sept. 2050	1,500		1,009		1,500		936
Total gross long-term debt				$	3,650			$	3,650
Unamortized discount and deferred financing costs				(39)				(39)
Total net carrying amount				$	3,611			$	3,611

We were in compliance with the terms of the notes outstanding as of March 31, 2023. Refer to Note 13 contained in our Annual Report on Form 10-K for the year ended December 31, 2022 for further details regarding key terms under our indentures that govern our outstanding notes.