The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:



	June 30, 2025
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	4	$	—	$	4	$	—

Total assets	$	4	$	—	$	4	$	—

Liabilities
Interest rate swaps	$	15	$	—	$	15	$	—

Cross currency basis swaps	11		—		11		—
Foreign exchange forward contracts	99		—		99		—


Total liabilities	$	125	$	—	$	125	$	—



	December 31, 2024
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Cross currency basis swaps	$	18	$	—	$	18	$	—
Foreign exchange forward contracts	18		—		18		—

Total assets	$	36	$	—	$	36	$	—

Liabilities
Interest rate swaps	$	21	$	—	$	21	$	—


Foreign exchange forward contracts	9		—		9		—

Contingent consideration on acquisitions	4		—		—		4

Total liabilities	$	34	$	—	$	30	$	4