v3.25.0.1
Commitments and Contingencies - Summary of Material Contractual Obligations and Commercial Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 18, 2024
Mar. 25, 2021
Commitment And Contingencies [Line Items]      
Contractual Obligation, Total [1] $ 330    
Contractual Obligation, Less than 1 year [1] 72    
Contractual Obligation, 1 to 3 years [1] 124    
Contractual Obligation, 3 to 5 years [1] 85    
Contractual Obligation, More than 5 years [1] $ 49    
0.250% Senior Notes due April 1, 2026      
Commitment And Contingencies [Line Items]      
Debt instrument, interest rate 0.25%   0.25%
Standby Letters of Credit      
Commitment And Contingencies [Line Items]      
Letters of credit outstanding amount $ 3    
Expected Interest Payments on Term Loan B Facility      
Commitment And Contingencies [Line Items]      
Contractual Obligation, Total [2] 219    
Contractual Obligation, Less than 1 year [2] 35    
Contractual Obligation, 1 to 3 years [2] 68    
Contractual Obligation, 3 to 5 years [2] 67    
Contractual Obligation, More than 5 years [2] 49    
Expected Interest Payments on 2026 Senior Notes      
Commitment And Contingencies [Line Items]      
Contractual Obligation, Total [3] 1    
Contractual Obligation, Less than 1 year [3] 1    
Expected Commitment Fee Payments on 2015 Credit Facility      
Commitment And Contingencies [Line Items]      
Contractual Obligation, Total [4] 4    
Contractual Obligation, Less than 1 year [4] 1    
Contractual Obligation, 1 to 3 years [4] 2    
Contractual Obligation, 3 to 5 years [4] 1    
Purchase obligations and other      
Commitment And Contingencies [Line Items]      
Contractual Obligation, Total [5] 106    
Contractual Obligation, Less than 1 year [5] 35    
Contractual Obligation, 1 to 3 years [5] 54    
Contractual Obligation, 3 to 5 years [5] 17    
Contractual Obligation, More than 5 years [5] $ 0    
LTRIP      
Commitment And Contingencies [Line Items]      
Debt instrument, interest rate   0.50%  
Trip loan facility   $ 330  
[1] Excluded from the table is $3 million of undrawn standby letters of credit, primarily as security deposits for certain property leases as of December 31, 2024.
(6)
Excluded from the table is the TRIP Loan Facility of approximately $330 million, related to the Merger with LTRIP anticipated to be completed during the second quarter of 2025. Refer to “Note 1: Organization and Business Description” for additional information on the Merger.
[2] The amounts included as expected interest payments on the Term Loan B Facility in this table are based on the effective interest rate as of December 31, 2024, however, the interest rate is variable and could change significantly in the future. Amount assumes that our existing debt is repaid at maturity. Refer to “Note 8: Debt” for additional information on the Term Loan B Facility.
[3] Expected interest payments on our 2026 Senior Notes are based on a fixed interest rate of 0.25% as of December 31, 2024, and assumes that our existing debt is repaid at maturity. Refer to “Note 8: Debt” for additional information on our 2026 Senior Notes.
[4] Expected commitment fee payments are based on the daily unused portion of our Credit Facility, issued letters of credit, and the effective commitment fee rate as of December 31, 2024; however, these variables could change significantly in the future. Refer to “Note 8: Debt” for additional information on our Credit Facility.
[5] Estimated purchase obligations that are fixed and determinable, primarily related to telecommunication and licensing contracts, with various expiration dates through June 2029. These contracts have non-cancelable terms or are cancelable only upon payment of significant penalty. Timing of payments and actual amounts paid may be different depending on the time of receipt of goods or services or changes to agreed-upon amounts for some obligations.