Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:

(In millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2024
Assets
Deferred compensation plan	$	17	$	—	$	—	$	17
Derivative instruments	—		—		26		26
Total assets	$	17	$	—	$	26	$	43
Liabilities
Deferred compensation plan	$	17	$	—	$	—	$	17
Derivative instruments	—		—		35		35
Total liabilities	$	17	$	—	$	35	$	52

(In millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2023
Assets
Deferred compensation plan	$	33	$	—	$	—	$	33
Derivative instruments	—		—		93		93
Total assets	$	33	$	—	$	93	$	126
Liabilities
Deferred compensation plan	$	33	$	—	$	—	$	33
Derivative instruments	—		—		1		1
Total liabilities	$	33	$	—	$	1	$	34

Reconciliation of Changes in the Fair Value of Financial Assets and Liabilities Classified as Level 3

The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy:

	Year Ended December 31,
(In millions)	2024		2023		2022
Balance at beginning of period	$	92	$	146	$	(152)
Total gain (loss) included in earnings	(3)		230		(446)
Settlement (gain) loss	(98)		(284)		744
Balance at end of period	$	(9)	$	92	$	146
Change in unrealized gains (losses) relating to assets and liabilities still held at the end of the period	$	(16)	$	92	$	179

Carrying Amounts and Fair Values of Debt

The carrying amount and estimated fair value of debt is as follows:

	December 31, 2024				December 31, 2023
(In millions)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Total debt	$	3,535	$	3,395	$	2,161	$	2,015
Current maturities	—		—		(575)		(565)
Long-term debt, excluding current maturities	$	3,535	$	3,395	$	1,586	$	1,450