Company: EXEEZ
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000895126-25-000084
Chunk: 26

Company: EXPAND ENERGY Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited)

4.Debt Our long-term debt consisted of the following as of June 30, 2025 and December 31, 2024:June 30, 2025December 31, 2024Carrying AmountFair Value(a)Carrying AmountFair Value(a)Credit Facility$— $— $— $— 4.95% senior notes due 2025— — 389 389 5.50% senior notes due 2026— — 47 47 5.375% senior notes due 2029700 700 700 684 5.875% senior notes due 2029469 471 500 494 6.75% senior notes due 2029866 878 950 959 5.375% senior notes due 20301,200 1,204 1,200 1,174 4.75% senior notes due 20321,150 1,118 1,150 1,067 5.70% senior notes due 2035750 734 750 734 Premiums (discounts) on senior notes, net(4)— 4 — Debt issuance costs(9)— (10)— Total debt, net$5,122 $5,105 $5,680 $5,548 Less current maturities of long-term debt, net— — (389)(389)Total long-term debt, net$5,122 $5,105 $5,291 $5,159 ____________________________________________(a)The carrying value of borrowings under our Credit Facility approximates fair value as the interest rates are based on prevailing market rates; therefore, they are a Level 1 fair value measurement. For all other debt, a market approach, based upon quotes from major financial institutions, which are Level 2 inputs, is used to measure the fair value.Credit Facility. In December 2022, we entered into a senior secured reserve-based credit agreement, as amended pursuant to the Amendment No. 1 and Borrowing Base Agreement, dated April 29, 2024 (the “Initial Credit Agreement Amendment”) and as automatically amended on October 28, 2024 by the Investment Grade Credit Agreement Amendment (as defined below), with the lenders and issuing banks party thereto from