Quarterly report [Sections 13 or 15(d)]

Note 9 - Debt (Tables)

v3.25.1
Note 9 - Debt (Tables)
3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Debt [Table Text Block]
   

March 31,

   

December 31,

 
   

2025

   

2024

 

Senior credit facilities:

               

Revolving credit facility

  $ 273     $  

Senior notes

    1,486       1,799  

Amounts outstanding under A/R programs

    163        

Variable interest entities

    14       16  

Other

    18       20  

Total debt

  $ 1,954     $ 1,835  

Current portion of debt

  $ 284     $ 325  

Long-term portion of debt

    1,670       1,510  

Total debt

  $ 1,954     $ 1,835  
Schedule of Line of Credit Facilities [Table Text Block]
                     

Unamortized

               
                     

discounts and

               
   

Committed

   

Principal

     

debt issuance

   

Carrying

       

Facility

 

amount

   

outstanding

     

costs

   

value

 

Interest rate(2)

 

Maturity

2022 Revolving Credit Facility

  $ 1,200     $ 273  

(1)

  $     $ 273  

Term Secured Overnight Financing Rate (“SOFR”) plus 1.475%

 

May 2027

Schedule of Notes Outstanding [Table Text Block]
                   

Unamortized

 
                   

premiums,

 
                   

discounts

 
                   

and debt

 

Notes

 

Maturity

 

Interest rate

   

Amount outstanding

 

issuance costs

 

2029 Senior notes

 

May 2029

    4.50 %  

$750 ($743 carrying value)

    7  

2031 Senior notes

 

June 2031

    2.95 %  

$400 ($398 carrying value)

    2  

2034 Senior notes

 

October 2034

    5.70 %  

$350 ($345 carrying value)

    5  
Schedule of Accounts Receivable Programs [Table Text Block]
       

Maximum funding

   

Amount

     

Facility

 

Maturity

 

availability(1)

   

outstanding

   

Interest rate(2)

U.S. A/R Program

 

January 2027

  $ 150     $ 104  

(3)

Applicable rate plus 0.95%

EU A/R Program

 

July 2027

  100     55    

Applicable rate plus 1.45%

        (or approximately $108)     (or approximately $59)