The Company’s outstanding debt consisted of the following as of the dates presented:
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June 30, 2025 |
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December 31, 2024 |
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(in millions) |
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Short-term debt: |
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Term Loan B Facility due 2031 |
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$ |
9 |
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$ |
5 |
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0.25% Convertible 2026 Senior Notes due 2026 (1) |
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345 |
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— |
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Unamortized Debt Issuance Costs |
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(1 |
) |
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— |
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Total short-term debt |
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$ |
353 |
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$ |
5 |
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Long-term debt: |
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Term Loan B Facility due 2031 |
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$ |
836 |
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$ |
494 |
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0.25% Convertible 2026 Senior Notes due 2026 (1) |
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— |
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345 |
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Unamortized Debt Issuance Costs |
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(14 |
) |
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(8 |
) |
Total long-term debt |
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$ |
822 |
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$ |
831 |
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(1)Reclassified to short-term debt as of June 30, 2025 as 2026 Senior Notes maturity date is April 1, 2026.
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