v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table summarizes the principal balance and carrying value of our debt:
June 30, 2025December 31, 2024
(In millions)Principal BalanceCarrying ValuePrincipal BalanceCarrying Value
Revolver$35 $35 $— $— 
7.50% Notes due 2027 (1)
355 350 355 349 
Finance leases, asset financing and short-term debt18 18 19 19 
Total debt and obligations under finance leases408 403 374 368 
Less: Short-term debt and current maturities of long-term debt16 16 17 17 
Total long-term debt and obligations under finance leases$392 $387 $357 $351 
(1)The carrying value of the 7.50% Notes due 2027 is presented net of unamortized debt issuance cost and discount of $5 million and $6 million as of June 30, 2025 and December 31, 2024, respectively.
The fair value of our debt and classification in the fair value hierarchy is as follows:
(In millions)LevelJune 30, 2025December 31, 2024
Revolver3$35 $— 
7.50% Notes due 2027
1364 365