Debt - Two Thousand Fifteen Credit Facility - Additional Information (Details)
$ in Millions |
|
|
12 Months Ended |
|
Mar. 20, 2025
USD ($)
|
Jul. 08, 2024 |
Dec. 31, 2025
USD ($)
Days
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Interest expense |
|
|
$ 63
|
$ 46
|
$ 44
|
| Term Loan B Facility [Member] |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Additional long term debt under credit facility |
$ 350
|
|
|
|
|
| Interest expense |
|
|
55
|
19
|
|
| Credit Facility |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Interest expense |
|
|
1
|
1
|
$ 1
|
| Credit Facility | Revolving Credit Facility |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Borrowing capacity under Credit Facility |
|
|
500
|
|
|
| Specified debt outstanding prior to maturity date |
|
|
$ 200
|
|
|
| Credit facility, maturity date |
|
|
Jun. 29, 2028
|
|
|
| Credit facility threshold Trading Days prior to maturity | Days |
|
|
91
|
|
|
| Line of Credit Facility, Interest Rate Description |
|
|
Borrowings under the Credit Facility generally bear interest, at the Company’s option, at a rate per annum equal to either (i) the Adjusted Term SOFR rate for the interest period in effect for such borrowing in U.S. dollars, the EURIBO rate for the interest period in effect for such borrowings in Euro and the Daily Simple SONIA rate for the interest period in effect for such borrowings in Sterling; plus, in each case, an applicable margin ranging from 1.75% to 2.50% (“Term Benchmark/RFP Spread”), based on the Company’s total net leverage ratio; or (ii) the Alternate Base Rate (“ABR”), which is the greatest of (a) the Prime Rate in effect on such day, (b) the New York Fed Bank Rate in effect on such day plus 1/2 of 1.00% per annum, and (c) the Adjusted Term SOFR for an interest period of one month as published two US Government Securities Business Days prior to such day (or if such day is not a US Government Securities Business Day, the immediately preceding US Government Securities Business Day) plus 1.00% plus an applicable margin ranging from 0.75% to 1.50%, based on the Company’s total net leverage ratio. In addition, we are required to pay a quarterly commitment fee, at an applicable rate ranging from 0.25% to 0.40%, on the daily unused portion of the Credit Facility for each fiscal quarter and in connection with the issuance of letters of credit. As of December 31, 2025, our unused revolver capacity was subject to a commitment fee of 0.25%, given the Company’s total net leverage ratio.
|
|
|
| Outstanding borrowings |
|
|
$ 0
|
0
|
|
| Line Of Credit Facility Unused Capacity Commitment Fee Percentage |
|
|
0.25%
|
|
|
| Credit Facility | Revolving Credit Facility | New York Fed Bank Rate |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Debt Instrument, Description of Variable Rate Basis |
|
|
effect on such day plus 1/2 of 1.00% per annum,
|
|
|
| Debt Instrument, Interest Rate, Effective Percentage |
|
|
0.50%
|
|
|
| Credit Facility | Revolving Credit Facility | Term Benchmark Borrowing Rate |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Debt Instrument, Description of Variable Rate Basis |
|
|
the Adjusted Term SOFR for an interest period of one month as published two US Government Securities Business Days prior to such day (or if such day is not a US Government Securities Business Day, the immediately preceding US Government Securities Business Day) plus 1.00% plus
|
|
|
| Debt Instrument, Interest Rate, Effective Percentage |
|
|
1.00%
|
|
|
| Credit Facility | Revolving Credit Facility | Minimum |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Unrestricted cash threshold to suspend credit facility |
|
|
$ 500
|
|
|
| Debt instrument current total net leverage ratio |
|
|
1
|
|
|
| Line Of Credit Facility Unused Capacity Commitment Fee Percentage |
|
|
0.25%
|
|
|
| Credit Facility | Revolving Credit Facility | Minimum | ABR Spread |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Basis spread on variable rate |
|
|
0.75%
|
|
|
| Credit Facility | Revolving Credit Facility | Minimum | Eurocurrency Spread |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Basis spread on variable rate |
|
|
1.75%
|
|
|
| Credit Facility | Revolving Credit Facility | Maximum |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Debt instrument current total net leverage ratio |
|
|
4.5
|
|
|
| Line Of Credit Facility Unused Capacity Commitment Fee Percentage |
|
|
0.40%
|
|
|
| Credit Facility | Revolving Credit Facility | Maximum | ABR Spread |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Basis spread on variable rate |
|
|
1.50%
|
|
|
| Credit Facility | Revolving Credit Facility | Maximum | Eurocurrency Spread |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Basis spread on variable rate |
|
|
2.50%
|
|
|
| Credit Facility | Letter of Credit |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Borrowing capacity under Credit Facility |
|
|
$ 15
|
15
|
|
| Letters of credit outstanding amount |
|
|
4
|
3
|
|
| Credit Facility | Borrowings On Same Day Notice |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Borrowing capacity under Credit Facility |
|
|
40
|
$ 40
|
|
| Credit Facility | Term Loan B Facility [Member] |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Additional long term debt under credit facility |
|
|
350
|
|
|
| Basis spread on variable rate |
|
2.75%
|
|
|
|
| 2026 Senor Notes | Revolving Credit Facility |
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
| Specified debt outstanding prior to maturity date |
|
|
$ 200
|
|
|
| Credit facility threshold Trading Days prior to maturity | Days |
|
|
91
|
|
|