v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivatives Outstanding
The following table is a summary of the fair value of derivatives outstanding at June 30, 2025 and December 31, 2024:
Fair Value
June 30, 2025December 31, 2024
Assets(a) Accrued Liabilities Assets(a)Accrued Liabilities
Derivatives Designated as Cash Flow Hedges
Currency Contracts $10 $— $— $13 
Interest Rate Swaps $9 $1 $33 $— 
Total Hedges $19 $1 $33 $13 
Derivatives Not Designated as Cash Flow Hedges
Currency Contracts $3 $1 $1 $5 
Total Derivatives $22 $2 $34 $18 
(a) At June 30, 2025 and December 31, 2024, current assets of $22 million and $34 million, respectively, are recorded in prepaid and other current assets on the Condensed Consolidated Balance Sheets.
Schedule of Derivatives' Impact on the Condensed Consolidated Statement of Operations
The following table summarizes the impact of the Company's derivatives on the unaudited Condensed Consolidated Statement of Operations:
Amount of Pre-Tax Gain (Loss) Recognized in Earnings Amount of Pre-Tax Gain (Loss) Recognized in Earnings
Revenue Cost of Goods SoldOther (expense) income, netOther (expense) income, net
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Derivatives Not Designated as Hedging Instruments
Currency Contracts$— $— $(1)$3 
Derivatives Designated as Hedging Instruments
Currency Contracts $2 $(1)$— $— 
Total Derivatives $2 $(1)$(1)$3 

Amount of Pre-Tax Gain (Loss) Recognized in Earnings Amount of Pre-Tax Gain (Loss) Recognized in Earnings
RevenueCost of Goods SoldOther (expense) income, netCost of Goods SoldOther (expense) income, net
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Derivatives Not Designated as Hedging Instruments
Currency Contracts$— $— $(1)$— $(3)
Derivatives Designated as Hedging Instruments
Currency Contracts $2 $(1)$— $— $— 
Natural Gas Hedges$— $— $— $(1)$— 
Total Derivatives $2 $(1)$(1)$(1)$(3)