v3.25.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the fair value and presentation on the Condensed Consolidated Balance Sheets for derivative instruments as of June 30, 2025 and December 31, 2024:

(dollars in millions)Balance Sheet ClassificationJune 30, 2025December 31, 2024
Derivatives designated as Cash flow hedging instruments:
Asset Derivatives:
Foreign exchange contractsOther current assets$2 $5 
Foreign exchange contractsOther assets1 4 
Total asset derivatives$3 $9 
Liability Derivatives:
Foreign exchange contractsAccrued liabilities$(6)$(4)
Foreign exchange contractsOther long-term liabilities(3)(1)
Total liability derivatives$(9)$(5)
Derivatives not designated as Cash flow hedging instruments:
Asset Derivatives:
Foreign exchange contractsOther current assets$15 $53 
Foreign exchange contractsOther assets2 6 
Total asset derivatives$17 $59 
Liability Derivatives:
Foreign exchange contractsAccrued liabilities$(26)$(39)
Foreign exchange contractsOther long-term liabilities(2)(6)
Total liability derivatives$(28)$(45)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The pre-tax effect of cash flow hedging relationships on Accumulated other comprehensive income (loss) as of June 30, 2025 and December 31, 2024 are presented in the table below:

(dollars in millions)June 30, 2025December 31, 2024
Gain (loss) recorded in Accumulated other comprehensive income (loss)$(5)$3 
Schedule of Derivative Instruments, Gain (Loss)
The following table summarizes the amounts of gains (losses) recognized in other comprehensive income (loss) related to non-derivative and derivative instruments designated as net investment hedges:

Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Foreign currency denominated long-term debt$(4)$8 $(10)$15 
Foreign currency forward contracts(11)(2)(6)(2)
Total$(15)$6 $(16)$13 
The net effect of derivatives not designated as Cash flow hedging instruments within Other income (expense) net, on the Condensed Consolidated Statements of Operations was as follows:
Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Foreign exchange contracts$10 $3 $16 $2