v3.25.1
Fair Value Measurements (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Investments $ 16 $ 16
Foreign Exchange Contracts 12 28
Total Assets at Fair Value 28 44
Liabilities:    
Foreign Exchange Contracts 22 3
Total Liabilities at Fair Value 22 3
Supplemental Fair Value Information    
Notes Payable and Overdrafts (Note 9) 436 558
Carrying amount — liability 7,340 6,963
Fixed Rate Debt, Excluding Capital Leases    
Supplemental Fair Value Information    
Notes Payable and Overdrafts (Note 9) 201 241
Carrying amount — liability [1] 4,892 5,367
Fair value — liability [1] 2,408 1,590
Variable Rate Debt, Excluding Capital Leases    
Supplemental Fair Value Information    
Notes Payable and Overdrafts (Note 9) 235 317
Carrying amount — liability [1] 2,448 1,600
Fair value — liability [1] 4,670 5,076
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)    
Assets:    
Investments 16 16
Foreign Exchange Contracts 0 0
Total Assets at Fair Value 16 16
Liabilities:    
Foreign Exchange Contracts 0 0
Total Liabilities at Fair Value 0 0
Supplemental Fair Value Information    
Fair value — liability 4,507 4,921
Significant Other Observable Inputs (Level 2)    
Assets:    
Investments 0 0
Foreign Exchange Contracts 12 28
Total Assets at Fair Value 12 28
Liabilities:    
Foreign Exchange Contracts 22 3
Total Liabilities at Fair Value 22 3
Significant Unobservable Inputs (Level 3)    
Assets:    
Investments 0 0
Foreign Exchange Contracts 0 0
Total Assets at Fair Value 0 0
Liabilities:    
Foreign Exchange Contracts 0 0
Total Liabilities at Fair Value $ 0 $ 0
[1] Excludes Notes Payable and Overdrafts of $436 million and $558 million at March 31, 2025 and December 31, 2024, respectively, of which $201 million and $241 million, respectively, are at fixed rates and $235 million and $317 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.