v3.25.2
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments A summary of the notional amounts of these interest rate swap agreements as of June 30, 2025 and December 31, 2024 was as follows:
Notional Amount
Debt InstrumentJune 30, 2025December 31, 2024
5.00% Senior Notes due December 2034
$850 $700 
2.80% Senior Notes due June 2031
550 — 
6.40% Senior Notes due November 2033
400 — 
$1,800 $700 
Schedule of Debt Instrument Fair Value Basis Adjustment Attributable to Hedged Debt As of June 30, 2025 and December 31, 2024, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges included in the carrying amount of long-term debt:
Carrying Amount of Hedged Long-Term DebtHedge Accounting Basis Adjustment (a)Carrying Amount of Hedged Long-Term DebtHedge Accounting Basis Adjustment (a)
Balance Sheet ClassificationJune 30, 2025June 30, 2025December 31, 2024December 31, 2024
Long-term debt$1,801 $19 $658 $(29)

(a) The balance includes $2 million and $5 million of remaining unamortized hedging adjustments on discontinued relationships as of June 30, 2025 and December 31, 2024, respectively.
Schedule of Fair Value Hedge Accounting on the Statement of Operations The following table presents the effect of fair value hedge accounting on the consolidated statement of operations for the three and six months ended June 30, 2025:
Three Months Ended
June 30, 2025
Six Months Ended June 30, 2025
Interest Expense, NetInterest Expense, Net
Total for line item in which the effects of fair value hedges are recorded$(67)$(134)
Gain (loss) on fair value hedging relationships:
Hedged items (Long-term debt)$(23)$(51)
Derivatives designated as hedging instruments$23 $51 
Schedule of Derivative Instruments at Fair Value A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows:
June 30, 2025December 31, 2024
Balance Sheet
Classification		Fair ValueBalance Sheet
Classification		Fair Value
Derivatives Designated as Hedging Instruments   
Fixed-to-variable interest rate swap agreementsOther assets$17 Other liabilities$34