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We maintain a voluntary supply chain financing (“SCF”) program with a global financial institution, which allows a select group of suppliers to sell their receivables to the participating financial institution at the discretion of both parties on terms that are negotiated between the supplier and the financial institution. The supplier invoices that have been confirmed as valid under the program are paid by us to the financial institution according to the terms we have with the supplier. Amounts outstanding under the SCF program were $ 22 million and $ 28 million at December 31, 2024 and December 31, 2023, respectively. | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> We maintain a voluntary supply chain financing (“SCF”) program with a global financial institution, which allows a select group of suppliers to sell their receivables to the participating financial institution at the discretion of both parties on terms that are negotiated between the supplier and the financial institution. The supplier invoices that have been confirmed as valid under the program are paid by us to the financial institution according to the terms we have with the supplier. Amounts outstanding under the SCF program were $ 22 million and $ 28 million at December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:SupplierFinanceProgramObligation |
We also participate in a virtual card program with a global financial institution, in which we pay supplier invoices on the due date using a Virtual Card Account (“VCA”) and subsequently pay the balance in full 25 days after the billing statement date of the VCA. The program allows for suppliers to receive an accelerated payment for a fee at each supplier's discretion. Fees paid by our suppliers are negotiated directly with the financial institution without our involvement. Amounts outstanding under the VCA program were $ 6 million and $ 8 million at December 31, 2024 and December 31, 2023, respectively. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> We also participate in a virtual card program with a global financial institution, in which we pay supplier invoices on the due date using a Virtual Card Account (“VCA”) and subsequently pay the balance in full 25 days after the billing statement date of the VCA. The program allows for suppliers to receive an accelerated payment for a fee at each supplier's discretion. Fees paid by our suppliers are negotiated directly with the financial institution without our involvement. Amounts outstanding under the VCA program were $ 6 million and $ 8 million at December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:SupplierFinanceProgramObligation |
We also participate in a virtual card program with a global financial institution, in which we pay supplier invoices on the due date using a Virtual Card Account (“VCA”) and subsequently pay the balance in full 25 days after the billing statement date of the VCA. The program allows for suppliers to receive an accelerated payment for a fee at each supplier's discretion. Fees paid by our suppliers are negotiated directly with the financial institution without our involvement. Amounts outstanding under the VCA program were $ 6 million and $ 8 million at December 31, 2024 and December 31, 2023, respectively. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> We also participate in a virtual card program with a global financial institution, in which we pay supplier invoices on the due date using a Virtual Card Account (“VCA”) and subsequently pay the balance in full 25 days after the billing statement date of the VCA. The program allows for suppliers to receive an accelerated payment for a fee at each supplier's discretion. Fees paid by our suppliers are negotiated directly with the financial institution without our involvement. Amounts outstanding under the VCA program were $ 6 million and $ 8 million at December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:SupplierFinanceProgramObligation |
Any indebtedness under the Senior Secured Credit Facilities may be voluntarily prepaid in whole or in part, in minimum amounts, subject to the provisions set forth in the Credit Agreement, including with respect to the 1.00 % premium that would be payable in connection with any Repricing Event (as defined in the Credit Agreement) on the 2029 Dollar Term Loans that occurs within six months of November 26, 2024. Such indebtedness is subject to mandatory prepayments amounting to the proceeds of asset sales over $ 75 million, proceeds from certain debt issuances not otherwise permitted under the Credit Agreement and 50 % (subject to a step-down to 25.0 % or 0 % if the First Lien Net Leverage Ratio (as defined in the Credit Agreement) falls below 4.25 :1.00 or 3.50 :1.00, respectively) of Excess Cash Flow (as defined in the Credit Agreement). Under the circumstances and subject to the conditions described in the Credit Agreement, we may increase our capacity for revolving loans, increase commitments under our existing term loans, issue additional term loans or issue other indebtedness. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> Any indebtedness under the Senior Secured Credit Facilities may be voluntarily prepaid in whole or in part, in minimum amounts, subject to the provisions set forth in the Credit Agreement, including with respect to the 1.00 % premium that would be payable in connection with any Repricing Event (as defined in the Credit Agreement) on the 2029 Dollar Term Loans that occurs within six months of November 26, 2024. Such indebtedness is subject to mandatory prepayments amounting to the proceeds of asset sales over $ 75 million, proceeds from certain debt issuances not otherwise permitted under the Credit Agreement and 50 % (subject to a step-down to 25.0 % or 0 % if the First Lien Net Leverage Ratio (as defined in the Credit Agreement) falls below 4.25 :1.00 or 3.50 :1.00, respectively) of Excess Cash Flow (as defined in the Credit Agreement). Under the circumstances and subject to the conditions described in the Credit Agreement, we may increase our capacity for revolving loans, increase commitments under our existing term loans, issue additional term loans or issue other indebtedness. </context> | us-gaap:ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments |
The 2029 Dollar Term Loans were issued at 99.00 % of par, or a $ 20 million discount, and mature on December 20, 2029. Principal is paid quarterly based on 1 % per annum of the original principal amount outstanding on the most recent amendment date with the unpaid balance due at maturity, and interest is payable quarterly. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> The 2029 Dollar Term Loans were issued at 99.00 % of par, or a $ 20 million discount, and mature on December 20, 2029. Principal is paid quarterly based on 1 % per annum of the original principal amount outstanding on the most recent amendment date with the unpaid balance due at maturity, and interest is payable quarterly. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). | text | 0.5 | percentItemType | text: <entity> 0.5 </entity> <entity type> percentItemType </entity type> <context> The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). | text | 1.50 | percentItemType | text: <entity> 1.50 </entity> <entity type> percentItemType </entity type> <context> The 2029 Dollar Term Loans are subject to a floor of 0.5 % and a margin of 1.75 % when bearing interest at a rate based on SOFR and a margin of 1.50 % when bearing interest at a rate based on the Base Rate (as defined in the Credit Agreement). </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Interest on any outstanding borrowings under the Revolving Credit Facility is subject to an interest margin of 1.50 % for loans based on the Term Benchmark Loans and SONIA Rate Loans (each, as defined in the Credit Agreement) and 0.50 % for loans based on the Base Rate with, in each case, a 0.25 % increase when its First Lien Net Leverage Ratio is greater than or equal to 1.50 :1.00 but less than or equal to 2.50 :1.00 and another 0.25 % increase when its First Lien Net Leverage Ratio is greater than 2.50 :1.00. | text | 1.50 | percentItemType | text: <entity> 1.50 </entity> <entity type> percentItemType </entity type> <context> Interest on any outstanding borrowings under the Revolving Credit Facility is subject to an interest margin of 1.50 % for loans based on the Term Benchmark Loans and SONIA Rate Loans (each, as defined in the Credit Agreement) and 0.50 % for loans based on the Base Rate with, in each case, a 0.25 % increase when its First Lien Net Leverage Ratio is greater than or equal to 1.50 :1.00 but less than or equal to 2.50 :1.00 and another 0.25 % increase when its First Lien Net Leverage Ratio is greater than 2.50 :1.00. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Interest on any outstanding borrowings under the Revolving Credit Facility is subject to an interest margin of 1.50 % for loans based on the Term Benchmark Loans and SONIA Rate Loans (each, as defined in the Credit Agreement) and 0.50 % for loans based on the Base Rate with, in each case, a 0.25 % increase when its First Lien Net Leverage Ratio is greater than or equal to 1.50 :1.00 but less than or equal to 2.50 :1.00 and another 0.25 % increase when its First Lien Net Leverage Ratio is greater than 2.50 :1.00. | text | 0.50 | percentItemType | text: <entity> 0.50 </entity> <entity type> percentItemType </entity type> <context> Interest on any outstanding borrowings under the Revolving Credit Facility is subject to an interest margin of 1.50 % for loans based on the Term Benchmark Loans and SONIA Rate Loans (each, as defined in the Credit Agreement) and 0.50 % for loans based on the Base Rate with, in each case, a 0.25 % increase when its First Lien Net Leverage Ratio is greater than or equal to 1.50 :1.00 but less than or equal to 2.50 :1.00 and another 0.25 % increase when its First Lien Net Leverage Ratio is greater than 2.50 :1.00. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During the year ended December 31, 2024, we had borrowings and letters of credit issued under the Revolving Credit Facility. At December 31, 2024 and December 31, 2023, letters of credit issued under the Revolving Credit Facility totaled $ 22 million, which reduced the availability under the Revolving Credit Facility as of such dates. There were no borrowings outstanding under the Revolving Credit Facility at December 31, 2024 and 2023. Availability under the Revolving Credit Facility was $ 778 million and $ 528 million at December 31, 2024 and December 31, 2023, respectively. The letters of credit issued under the Revolving Credit Facility include $ 14 million that secures Customer Obligation Guarantees at both December 31, 2024 and December 31, 2023. | text | 778 | monetaryItemType | text: <entity> 778 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we had borrowings and letters of credit issued under the Revolving Credit Facility. At December 31, 2024 and December 31, 2023, letters of credit issued under the Revolving Credit Facility totaled $ 22 million, which reduced the availability under the Revolving Credit Facility as of such dates. There were no borrowings outstanding under the Revolving Credit Facility at December 31, 2024 and 2023. Availability under the Revolving Credit Facility was $ 778 million and $ 528 million at December 31, 2024 and December 31, 2023, respectively. The letters of credit issued under the Revolving Credit Facility include $ 14 million that secures Customer Obligation Guarantees at both December 31, 2024 and December 31, 2023. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
During the year ended December 31, 2024, we had borrowings and letters of credit issued under the Revolving Credit Facility. At December 31, 2024 and December 31, 2023, letters of credit issued under the Revolving Credit Facility totaled $ 22 million, which reduced the availability under the Revolving Credit Facility as of such dates. There were no borrowings outstanding under the Revolving Credit Facility at December 31, 2024 and 2023. Availability under the Revolving Credit Facility was $ 778 million and $ 528 million at December 31, 2024 and December 31, 2023, respectively. The letters of credit issued under the Revolving Credit Facility include $ 14 million that secures Customer Obligation Guarantees at both December 31, 2024 and December 31, 2023. | text | 528 | monetaryItemType | text: <entity> 528 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we had borrowings and letters of credit issued under the Revolving Credit Facility. At December 31, 2024 and December 31, 2023, letters of credit issued under the Revolving Credit Facility totaled $ 22 million, which reduced the availability under the Revolving Credit Facility as of such dates. There were no borrowings outstanding under the Revolving Credit Facility at December 31, 2024 and 2023. Availability under the Revolving Credit Facility was $ 778 million and $ 528 million at December 31, 2024 and December 31, 2023, respectively. The letters of credit issued under the Revolving Credit Facility include $ 14 million that secures Customer Obligation Guarantees at both December 31, 2024 and December 31, 2023. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
During the year ended December 31, 2024, we prepaid $ 75 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 1 million for the year ended December 31, 2024, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we prepaid $ 75 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 1 million for the year ended December 31, 2024, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. </context> | us-gaap:PaymentsOfDebtExtinguishmentCosts |
During the year ended December 31, 2024, we prepaid $ 75 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 1 million for the year ended December 31, 2024, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we prepaid $ 75 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 1 million for the year ended December 31, 2024, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
During March 2024, we entered into the Fourteenth Amendment to the Credit Agreement (the “Fourteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on the Secured Overnight Financing Rate (“SOFR”), from 2.50 % to 2.00 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. | text | 2.50 | percentItemType | text: <entity> 2.50 </entity> <entity type> percentItemType </entity type> <context> During March 2024, we entered into the Fourteenth Amendment to the Credit Agreement (the “Fourteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on the Secured Overnight Financing Rate (“SOFR”), from 2.50 % to 2.00 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During March 2024, we entered into the Fourteenth Amendment to the Credit Agreement (the “Fourteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on the Secured Overnight Financing Rate (“SOFR”), from 2.50 % to 2.00 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. | text | 2.00 | percentItemType | text: <entity> 2.00 </entity> <entity type> percentItemType </entity type> <context> During March 2024, we entered into the Fourteenth Amendment to the Credit Agreement (the “Fourteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on the Secured Overnight Financing Rate (“SOFR”), from 2.50 % to 2.00 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. | text | 550 | monetaryItemType | text: <entity> 550 </entity> <entity type> monetaryItemType </entity type> <context> During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> During June 2024, we entered into the Fifteenth Amendment to the Credit Agreement (the “Fifteenth Amendment”), to among other things, increase commitments available pursuant to the Revolving Credit Facility from $ 550 million to $ 800 million and extend the maturity of the Revolving Credit Facility from May 2026 to June 2029, provided that such date would be accelerated in certain circumstances as set forth in the Credit Agreement and the Fifteenth Amendment. As a result, we recorded $ 4 million of incremental deferred financing costs to other assets within the consolidated balance sheets during the year ended December 31, 2024. </context> | us-gaap:DebtIssuanceCostsLineOfCreditArrangementsGross |
During November 2024, we entered into the Sixteenth Amendment to the Credit Agreement (the “Sixteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on SOFR, from 2.00 % to 1.75 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. | text | 2.00 | percentItemType | text: <entity> 2.00 </entity> <entity type> percentItemType </entity type> <context> During November 2024, we entered into the Sixteenth Amendment to the Credit Agreement (the “Sixteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on SOFR, from 2.00 % to 1.75 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During November 2024, we entered into the Sixteenth Amendment to the Credit Agreement (the “Sixteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on SOFR, from 2.00 % to 1.75 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> During November 2024, we entered into the Sixteenth Amendment to the Credit Agreement (the “Sixteenth Amendment”) to lower the interest rate spread applicable to the 2029 Dollar Term Loans, which continues to be based on SOFR, from 2.00 % to 1.75 % and to make related changes to effect such repricing. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 2 million loss on financing-related costs related to the write-off of unamortized deferred financing costs and original issue discount and fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During the year ended December 31, 2023, we prepaid $ 200 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 3 million for the year ended December 31, 2023, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we prepaid $ 200 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 3 million for the year ended December 31, 2023, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. </context> | us-gaap:RepaymentsOfLongTermDebt |
During the year ended December 31, 2023, we prepaid $ 200 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 3 million for the year ended December 31, 2023, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we prepaid $ 200 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded a loss on extinguishment of debt of $ 3 million for the year ended December 31, 2023, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. | text | 3.00 | percentItemType | text: <entity> 3.00 </entity> <entity type> percentItemType </entity type> <context> During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. | text | 2.50 | percentItemType | text: <entity> 2.50 </entity> <entity type> percentItemType </entity type> <context> During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. </context> | us-gaap:WriteOffOfDeferredDebtIssuanceCost |
During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> During August 2023, we entered into the Thirteenth Amendment to the Credit Agreement to lower the interest rate spread applicable to the 2029 Dollar Term Loans from 3.00 % to 2.50 % when bearing interest at a rate based on SOFR. The other material terms of the Credit Agreement, including the outstanding principal amount and maturity date of the 2029 Dollar Term Loans, remained unchanged. As a result of the repricing, we recorded a $ 4 million loss on financing-related costs during the year ended December 31, 2023, of which $ 2 million related to the write-off of unamortized deferred financing costs and original issue discount and $ 2 million related to fees incurred to complete the repricing. </context> | us-gaap:AmortizationOfFinancingCostsAndDiscounts |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:RepaymentsOfLongTermDebt |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:LongTermDebt |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:WriteOffOfDeferredDebtIssuanceCost |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:DeferredFinanceCostsGross |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> On December 20, 2022, we entered into the Eleventh Amendment to the Credit Agreement to, among other things, provide a new seven year $ 2 billion term loan maturing December 2029 (i.e. the 2029 Dollar Term Loans), the proceeds of which, together with cash on hand, were used to refinance the existing $ 2 billion term loan due June 2024 (the “2024 Dollar Term Loans”). As a result of the refinancing, we recorded a $ 16 million loss on extinguishment of debt and other financing-related costs, of which $ 1 million was related to the 2024 Dollar Term Loans and $ 15 million was related to the 2029 Dollar Term Loans. The 2024 Dollar Term Loans loss comprised the write off of unamortized deferred financing costs and original issuance discount of $ 1 million. In relation to the 2029 Dollar Term Loans, the loss comprised additional fees, of which $ 7 million and $ 20 million were capitalized as deferred financing costs and original issuance discounts, respectively, and $ 15 million was expensed. </context> | us-gaap:AmortizationOfFinancingCostsAndDiscounts |
Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. | text | 4.750 | percentItemType | text: <entity> 4.750 </entity> <entity type> percentItemType </entity type> <context> Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. | text | 3.375 | percentItemType | text: <entity> 3.375 </entity> <entity type> percentItemType </entity type> <context> Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. | text | 7.250 | percentItemType | text: <entity> 7.250 </entity> <entity type> percentItemType </entity type> <context> Our senior notes (the “Senior Notes”) presently consist of 4.750 % senior notes due 2027 (the “2027 Dollar Senior Notes”), 3.375 % senior notes due 2029 (the “2029 Dollar Senior Notes”) and 7.250 % senior notes due 2031 (the “2031 Dollar Senior Notes”), each of which is governed by an indenture. Since inception, we have held various senior notes that have been subject to several supplemental indentures. For additional detail regarding earlier activities and terms, refer to our previous Annual Reports on Form 10-K filed with the SEC. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The 2027 Dollar Senior Notes were issued at par and are due June 15, 2027. The 2027 Dollar Senior Notes bear interest at 4.750 % which is payable semi-annually on June 15 | text | 4.750 | percentItemType | text: <entity> 4.750 </entity> <entity type> percentItemType </entity type> <context> The 2027 Dollar Senior Notes were issued at par and are due June 15, 2027. The 2027 Dollar Senior Notes bear interest at 4.750 % which is payable semi-annually on June 15 </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The 2029 Dollar Senior Notes were issued at par and are due February 15, 2029. The 2029 Dollar Senior Notes bear interest at 3.375 % which is payable semi-annually on February 15 | text | 3.375 | percentItemType | text: <entity> 3.375 </entity> <entity type> percentItemType </entity type> <context> The 2029 Dollar Senior Notes were issued at par and are due February 15, 2029. The 2029 Dollar Senior Notes bear interest at 3.375 % which is payable semi-annually on February 15 </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The 2031 Dollar Senior Notes were issued at par and are due February 15, 2031. The 2031 Dollar Senior Notes bear interest at 7.250 % which is payable semi-annually on May 15 | text | 7.250 | percentItemType | text: <entity> 7.250 </entity> <entity type> percentItemType </entity type> <context> The 2031 Dollar Senior Notes were issued at par and are due February 15, 2031. The 2031 Dollar Senior Notes bear interest at 7.250 % which is payable semi-annually on May 15 </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Notwithstanding the foregoing, at any time prior to November 15, 2026, we may at our option redeem in the aggregate up to 40 % of the original aggregate principal amount of the 2031 Dollar Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2031 Dollar Senior Notes) at a redemption price of 107.250 % plus accrued and unpaid interest, if any, to the redemption date. At least 50 % of the original aggregate principal of the notes must remain outstanding after each such redemption. | text | 40 | percentItemType | text: <entity> 40 </entity> <entity type> percentItemType </entity type> <context> Notwithstanding the foregoing, at any time prior to November 15, 2026, we may at our option redeem in the aggregate up to 40 % of the original aggregate principal amount of the 2031 Dollar Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2031 Dollar Senior Notes) at a redemption price of 107.250 % plus accrued and unpaid interest, if any, to the redemption date. At least 50 % of the original aggregate principal of the notes must remain outstanding after each such redemption. </context> | us-gaap:DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed |
Notwithstanding the foregoing, at any time prior to November 15, 2026, we may at our option redeem in the aggregate up to 40 % of the original aggregate principal amount of the 2031 Dollar Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2031 Dollar Senior Notes) at a redemption price of 107.250 % plus accrued and unpaid interest, if any, to the redemption date. At least 50 % of the original aggregate principal of the notes must remain outstanding after each such redemption. | text | 107.250 | percentItemType | text: <entity> 107.250 </entity> <entity type> percentItemType </entity type> <context> Notwithstanding the foregoing, at any time prior to November 15, 2026, we may at our option redeem in the aggregate up to 40 % of the original aggregate principal amount of the 2031 Dollar Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2031 Dollar Senior Notes) at a redemption price of 107.250 % plus accrued and unpaid interest, if any, to the redemption date. At least 50 % of the original aggregate principal of the notes must remain outstanding after each such redemption. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). | text | 450 | monetaryItemType | text: <entity> 450 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). | text | 489 | monetaryItemType | text: <entity> 489 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). </context> | us-gaap:RepaymentsOfLongTermDebt |
In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). | text | 3.750 | percentItemType | text: <entity> 3.750 </entity> <entity type> percentItemType </entity type> <context> In November 2023, we issued $ 500 million in aggregate principal amount of the 2031 Dollar Senior Notes. The net proceeds from the 2031 Dollar Senior Notes, together with cash on hand were used to redeem the € 450 million aggregate principal amount, with USD equivalent of $ 489 million, of 3.750 % Euro Senior Notes due 2025 (“Redeemed Notes”) and pay related transaction costs and expenses (“November 2023 Notes Refinancing”). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. </context> | us-gaap:DebtInstrumentFeeAmount |
In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. </context> | us-gaap:PaymentsOfDebtIssuanceCosts |
In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the November 2023 Notes Refinancing, we incurred $ 8 million in third party fees, of which $ 6 million was paid concurrently with the issuance, and $ 1 million was accrued. We also recorded a $ 2 million loss on extinguishment of debt relating to the write off of unamortized deferred financing costs attributable to the Redeemed Notes. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
Over the next 12 months, we expect a loss of $ 1 million pertaining to cash flow hedges to be reclassified from AOCI into earnings, related to our interest rate swaps. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Over the next 12 months, we expect a loss of $ 1 million pertaining to cash flow hedges to be reclassified from AOCI into earnings, related to our interest rate swaps. </context> | us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths |
Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. | text | 11 | percentItemType | text: <entity> 11 </entity> <entity type> percentItemType </entity type> <context> Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. </context> | us-gaap:ConcentrationRiskPercentage1 |
Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. | text | 6 | percentItemType | text: <entity> 6 </entity> <entity type> percentItemType </entity type> <context> Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. </context> | us-gaap:ConcentrationRiskPercentage1 |
Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. | text | 4 | percentItemType | text: <entity> 4 </entity> <entity type> percentItemType </entity type> <context> Net Sales are attributed to countries based on the customer's location. Sales to customers in China represented approximately 11 % of the total for the year ended December 31, 2024 and 10 % for the years ended December 31, 2023 and 2022. Sales to customers in Germany represented approximately 7 % of the total for the years ended December 31, 2024, 2023 and 2022. Mexico represented 7 % of the total for the years ended December 31, 2024 and 2023 and 6 % for the year ended December 31, 2022. Canada, which is included in the North America region, represented approximately 3 % of total net sales for the years ended December 31, 2024 and 2023 and 4 % for the year ended December 31, 2022. </context> | us-gaap:ConcentrationRiskPercentage1 |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 204 | monetaryItemType | text: <entity> 204 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 210 | monetaryItemType | text: <entity> 210 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 156 | monetaryItemType | text: <entity> 156 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 171 | monetaryItemType | text: <entity> 171 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 63 | monetaryItemType | text: <entity> 63 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> Long-lived assets consist of property, plant and equipment, net. Germany long-lived assets amounted to approximately $ 204 million and $ 210 million at December 31, 2024 and 2023, respectively. China long-lived assets amounted to approximately $ 156 million and $ 171 million at December 31, 2024 and 2023, respectively. Mexico long-lived assets amounted to approximately $ 63 million and $ 69 million at December 31, 2024 and 2023, respectively. Canada long-lived assets, which are included in the North America region, amounted to approximately $ 6 million at December 31, 2024 and 2023. </context> | us-gaap:NoncurrentAssets |
On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. | text | 427 | monetaryItemType | text: <entity> 427 </entity> <entity type> monetaryItemType </entity type> <context> On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. | text | 478 | monetaryItemType | text: <entity> 478 </entity> <entity type> monetaryItemType </entity type> <context> On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets |
On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. | text | 51 | monetaryItemType | text: <entity> 51 </entity> <entity type> monetaryItemType </entity type> <context> On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities |
On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> On January 2, 2024, the Company completed its previously announced acquisition of all issued and outstanding shares of Corvus Insurance Holdings, Inc. and its subsidiaries (Corvus), a cyber insurance managing general underwriter, for consideration transferred of approximately $ 427 million. The acquisition provides the Company the opportunity to renew Corvus’s book of business and to leverage Corvus’s capabilities to enhance the return profile of Travelers’ existing cyber portfolio. At the acquisition date, the Company recorded at fair value $ 478 million of assets acquired and $ 51 million of liabilities assumed as part of purchase accounting, including $ 390 million of identifiable intangible assets and goodwill. The assets acquired from Corvus were included in the Company’s Bond & Specialty Insurance segment, effective at the acquisition date. The Company funded this transaction from internal resources. A provisional amount of $ 19 million was recorded as a deferred tax asset and included on the consolidated balance sheet on January 2, 2024, and was later increased by an insignificant amount when the 2023 tax return for Corvus was finalized. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets |
Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. | text | 182 | monetaryItemType | text: <entity> 182 </entity> <entity type> monetaryItemType </entity type> <context> Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. </context> | us-gaap:LossContingencyUndiscountedAmountOfInsuranceRelatedAssessmentLiability |
Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. | text | 183 | monetaryItemType | text: <entity> 183 </entity> <entity type> monetaryItemType </entity type> <context> Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. </context> | us-gaap:LossContingencyUndiscountedAmountOfInsuranceRelatedAssessmentLiability |
Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. </context> | us-gaap:LossContingencyReceivable |
Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Included in other liabilities in the consolidated balance sheet is the Company’s estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2024 and 2023, the Company had a liability of $ 182 million and $ 183 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $ 29 million and $ 26 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers’ compensation claimants and the recoveries are expected to occur over the same period of time. </context> | us-gaap:LossContingencyReceivable |
Bond & Specialty Insurance’s surety business in Brazil is conducted through Junto Holding Brasil S.A. (Junto). The Company owns 49.5 % of Junto, a market leader in surety coverages in Brazil. This joint venture investment is accounted for using the equity method and is included in “other investments” on the consolidated balance sheet. | text | 49.5 | percentItemType | text: <entity> 49.5 </entity> <entity type> percentItemType </entity type> <context> Bond & Specialty Insurance’s surety business in Brazil is conducted through Junto Holding Brasil S.A. (Junto). The Company owns 49.5 % of Junto, a market leader in surety coverages in Brazil. This joint venture investment is accounted for using the equity method and is included in “other investments” on the consolidated balance sheet. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
The accounting policies used to prepare the segment reporting data for the Company’s three reportable business segments are the same as those described in the Summary of Significant Accounting Policies in note 1. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> The accounting policies used to prepare the segment reporting data for the Company’s three reportable business segments are the same as those described in the Summary of Significant Accounting Policies in note 1. </context> | us-gaap:NumberOfReportableSegments |
Pre-refunded bonds of $ 572 million and $ 966 million at December 31, 2024 and 2023, respectively, were bonds for which U.S. states or municipalities have established irrevocable trusts that are almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. | text | 572 | monetaryItemType | text: <entity> 572 </entity> <entity type> monetaryItemType </entity type> <context> Pre-refunded bonds of $ 572 million and $ 966 million at December 31, 2024 and 2023, respectively, were bonds for which U.S. states or municipalities have established irrevocable trusts that are almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
Pre-refunded bonds of $ 572 million and $ 966 million at December 31, 2024 and 2023, respectively, were bonds for which U.S. states or municipalities have established irrevocable trusts that are almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. | text | 966 | monetaryItemType | text: <entity> 966 </entity> <entity type> monetaryItemType </entity type> <context> Pre-refunded bonds of $ 572 million and $ 966 million at December 31, 2024 and 2023, respectively, were bonds for which U.S. states or municipalities have established irrevocable trusts that are almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 12.61 | monetaryItemType | text: <entity> 12.61 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 7.82 | monetaryItemType | text: <entity> 7.82 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 9.93 | monetaryItemType | text: <entity> 9.93 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 6.23 | monetaryItemType | text: <entity> 6.23 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 2.68 | monetaryItemType | text: <entity> 2.68 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 1.59 | monetaryItemType | text: <entity> 1.59 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 1.53 | monetaryItemType | text: <entity> 1.53 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. | text | 1.07 | monetaryItemType | text: <entity> 1.07 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s fixed maturity investment portfolio at December 31, 2024 and 2023 included $ 12.61 billion and $ 7.82 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2024 and 2023 were $ 9.93 billion and $ 6.23 billion, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass-through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $ 2.68 billion and $ 1.59 billion at December 31, 2024 and 2023, respectively. Approximately 43 % and 33 % of the Company’s CMO holdings at December 31, 2024 and 2023, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $ 1.53 billion and $ 1.07 billion of non-guaranteed CMO holdings was "Aaa" at both December 31, 2024 and 2023. The weighted average credit rating of all of the above securities was “Aaa/Aa1” at both December 31, 2024 and 2023. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 1.15 | monetaryItemType | text: <entity> 1.15 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 1.04 | monetaryItemType | text: <entity> 1.04 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 327 | monetaryItemType | text: <entity> 327 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 116 | monetaryItemType | text: <entity> 116 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 825 | monetaryItemType | text: <entity> 825 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. | text | 922 | monetaryItemType | text: <entity> 922 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $ 1.15 billion and $ 1.04 billion, respectively, which are included in “Corporate and all other bonds” in the tables above. At December 31, 2024 and 2023, approximately $ 327 million and $ 116 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $ 825 million and $ 922 million of non-guaranteed securities at December 31, 2024 and 2023, respectively, was “Aaa” at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa/Aa1" and “Aaa” at December 31, 2024 and 2023, respectively. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
At December 31, 2024 and 2023, the Company had $ 586 million and $ 421 million, respectively, of securities on loan as part of a tri-party lending agreement. | text | 586 | monetaryItemType | text: <entity> 586 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company had $ 586 million and $ 421 million, respectively, of securities on loan as part of a tri-party lending agreement. </context> | us-gaap:SecuritiesLoaned |
At December 31, 2024 and 2023, the Company had $ 586 million and $ 421 million, respectively, of securities on loan as part of a tri-party lending agreement. | text | 421 | monetaryItemType | text: <entity> 421 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company had $ 586 million and $ 421 million, respectively, of securities on loan as part of a tri-party lending agreement. </context> | us-gaap:SecuritiesLoaned |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 1.63 | monetaryItemType | text: <entity> 1.63 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 4.98 | monetaryItemType | text: <entity> 4.98 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 5.66 | monetaryItemType | text: <entity> 5.66 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedGain |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedGain |
Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of fixed maturities classified as available for sale were $ 1.63 billion, $ 4.98 billion and $ 5.66 billion in 2024, 2023 and 2022, respectively. Gross gains of $ 2 million, $ 26 million and $ 27 million and gross losses of $ 62 million, $ 119 million and $ 99 million were realized on those sales in 2024, 2023 and 2022, respectively. Included in net realized investment losses in 2024, 2023 and 2022 were $ 66 million, $ 0 million and $ 0 million , respectively, of losses resulting from the early redemption of fixed maturities by the issuer prior to the bonds' maturity date. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedGain |
At December 31, 2024 and 2023, the Company’s insurance subsidiaries had $ 3.96 billion and $ 4.04 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states’ insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $ 46 million and $ 54 million at December 31, 2024 and 2023, respectively. In addition, the Company utilizes Lloyd’s trust deposits, whereby owned securities with a fair value of approximately $ 13 million | text | 3.96 | monetaryItemType | text: <entity> 3.96 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s insurance subsidiaries had $ 3.96 billion and $ 4.04 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states’ insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $ 46 million and $ 54 million at December 31, 2024 and 2023, respectively. In addition, the Company utilizes Lloyd’s trust deposits, whereby owned securities with a fair value of approximately $ 13 million </context> | us-gaap:AssetsHeldByInsuranceRegulators |
At December 31, 2024 and 2023, the Company’s insurance subsidiaries had $ 3.96 billion and $ 4.04 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states’ insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $ 46 million and $ 54 million at December 31, 2024 and 2023, respectively. In addition, the Company utilizes Lloyd’s trust deposits, whereby owned securities with a fair value of approximately $ 13 million | text | 4.04 | monetaryItemType | text: <entity> 4.04 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s insurance subsidiaries had $ 3.96 billion and $ 4.04 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states’ insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $ 46 million and $ 54 million at December 31, 2024 and 2023, respectively. In addition, the Company utilizes Lloyd’s trust deposits, whereby owned securities with a fair value of approximately $ 13 million </context> | us-gaap:AssetsHeldByInsuranceRegulators |
The Company recognized $ 89 million and $ 16 million of net gains on equity securities still held as of December 31, 2024 and 2023, respectively. | text | 89 | monetaryItemType | text: <entity> 89 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized $ 89 million and $ 16 million of net gains on equity securities still held as of December 31, 2024 and 2023, respectively. </context> | us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss |
The Company recognized $ 89 million and $ 16 million of net gains on equity securities still held as of December 31, 2024 and 2023, respectively. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized $ 89 million and $ 16 million of net gains on equity securities still held as of December 31, 2024 and 2023, respectively. </context> | us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment |
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