XML 74 R54.htm IDEA: XBRL DOCUMENT v3.25.0.1
Long-Term Debt and Credit Agreements - Narrative (Details)
12 Months Ended
Jan. 31, 2025
USD ($)
Dec. 10, 2024
USD ($)
Sep. 12, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 11, 2024
USD ($)
Mar. 13, 2024
USD ($)
Debt Instrument [Line Items]                
Long-term debt       $ 3,500,000,000 $ 2,075,000,000      
Debt instrument, unamortized discount       10,000,000 0      
Deferred financing costs capitalized       24,000,000 4,000,000      
Proceeds from issuance of debt       $ 1,990,000,000 0 $ 0    
Senior Notes                
Debt Instrument [Line Items]                
Minimum required annual coverage ratio       2.8        
Consolidated debt to EBIDTA ratio       3.0        
Revolving credit agreement | Revolving Credit Agreement                
Debt Instrument [Line Items]                
Long-term debt       $ 0        
Remaining borrowing capacity       2,000,000,000.0        
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A                
Debt Instrument [Line Items]                
Deferred financing costs capitalized   $ 2,000,000 $ 4,000,000          
Maximum borrowing capacity on line of credit     $ 2,000,000,000       $ 1,500,000,000  
Minimum required asset coverage ratio   3.0 3.0          
Other debt outstanding   $ 75,000,000 $ 75,000,000          
Total capitalization   65.00% 65.00%          
Agreement extended period     1 year          
Lenders holding percent     50.00%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Minimum                
Debt Instrument [Line Items]                
Commitment fee on unused credit     0.10%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Maximum                
Debt Instrument [Line Items]                
Commitment fee on unused credit     0.25%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Base Rate | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.00% 0.00%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Base Rate | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.75% 0.75%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR)                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.10% 0.10%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate     1.00%          
Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate     1.75%          
Revolving credit agreement | Secured Debt                
Debt Instrument [Line Items]                
Maximum borrowing capacity on line of credit       1,000,000,000        
3.65% weighted-average private placement senior notes | Senior Notes                
Debt Instrument [Line Items]                
Long-term debt       250,000,000 825,000,000      
3.90% senior notes due May 15, 2027 | Senior Notes                
Debt Instrument [Line Items]                
Long-term debt       $ 750,000,000 750,000,000      
Stated percentage       3.90%        
4.375% senior notes due March 15, 2029 | Senior Notes                
Debt Instrument [Line Items]                
Long-term debt       $ 500,000,000 $ 500,000,000      
Stated percentage       4.375%        
Five Point Six Zero Percentage Senior Notes Due March 15, 2034 | Senior Notes                
Debt Instrument [Line Items]                
Long-term debt               $ 500,000,000
Stated percentage               5.60%
Debt instrument, unamortized discount               $ 1,000,000
Deferred financing costs capitalized               $ 5,000,000
5.40% Senior Notes | Senior Notes                
Debt Instrument [Line Items]                
Stated percentage       5.40%        
Debt instrument, unamortized discount       $ 3,000,000        
Debt instrument, face amount       750,000,000        
Deferred financing costs capitalized       $ 7,000,000        
5.90% Senior Notes | Senior Notes                
Debt Instrument [Line Items]                
Stated percentage       5.90%        
Debt instrument, unamortized discount       $ 5,000,000        
Debt instrument, face amount       750,000,000        
Deferred financing costs capitalized       8,000,000        
Tranche A | Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.00%            
Tranche A | Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.75%            
Tranche A | Revolving credit agreement | Secured Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount       $ 500,000,000        
Long-term debt, term       2 years        
Tranche A | Revolving credit agreement | Secured Debt | Subsequent Event                
Debt Instrument [Line Items]                
Proceeds from issuance of debt $ 500,000,000              
Tranche B | Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.125%            
Tranche B | Revolving credit agreement | Revolving Credit Agreement | JPMorgan Chase Bank, N.A | Secured Overnight Financing Rate (SOFR) | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.875%            
Tranche B | Revolving credit agreement | Secured Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount       $ 500,000,000        
Long-term debt, term       3 years        
Tranche B | Revolving credit agreement | Secured Debt | Subsequent Event                
Debt Instrument [Line Items]                
Proceeds from issuance of debt $ 500,000,000