v3.26.1
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
June 30, 2026December 31, 2025
(Dollars in millions)Final MaturityRatesFace ValueBook ValueBook Value
Secured Debt
CEI Revolving Credit Facility2028variable$120 $120 $160 
CEI Term Loan A2028variable619 618 636 
CVA Revolving Credit Facility2029variable— — — 
CVA Delayed Draw Term Loan2029variable376 372 381 
CEI Term Loan B2030variable2,018 1,993 2,002 
CEI Term Loan B-12031variable2,835 2,808 2,820 
CEI Senior Secured Notes due 203020307.00%2,000 1,987 1,986 
CEI Senior Secured Notes due 203220326.50%1,500 1,487 1,486 
Unsecured Debt
CEI Senior Notes due 202920294.625%1,200 1,193 1,192 
CEI Senior Notes due 203220326.00%1,100 1,088 1,087 
Special Improvement District Bonds20374.30%38 38 40 
Long-term notes and other payables1 1 2 
Total debt11,807 11,705 11,792 
Current portion of long-term debt(114)(114)(114)
Deferred finance charges associated with the CEI Revolving Credit Facility— (6)(8)
Long-term debt$11,693 $11,585 $11,670 
Unamortized discounts and deferred finance charges$108 $121 
Fair value$11,465 
Schedule of Maturities of Long-Term Debt
Annual Estimated Debt Service Requirements as of June 30, 2026
RemainingYears Ended December 31,
(In millions)
2026
2027202820292030ThereafterTotal
Annual maturities of long-term debt$55 $114 $767 $1,574 $3,962 $5,335 $11,807 
Estimated interest payments370 750 680 650 420 300 3,170 
Total debt service obligation (a)
$425 $864 $1,447 $2,224 $4,382 $5,635 $14,977 
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(a)Debt principal payments are estimated amounts based on contractual maturity and scheduled repayment dates. Interest payments are estimated based on forward-looking interest rate curves, where applicable. Actual payments may differ from these estimates.