v3.25.4
LEASES AND COMMITMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Assets and Lease Liabilities
The following table presents the lease assets and lease liabilities as of December 31, 2025 and 2024:
December 31,
(in millions)20252024
AssetsBalance Sheet Location
Operating leasesOther non-current assets$151 $177 
Finance leasesProperty, plant and equipment, net16 20 
Total lease assets$167 $197 
Liabilities
Current
Operating leases Other current liabilities$36 $38 
Finance leasesNotes payable and other short-term debt2 3 
Non-current
Operating leasesOther non-current liabilities122 144 
Finance leasesLong-term debt16 20 
Total lease liabilities$176 $205 
Schedule of Lease, Cost
The following table presents lease obligations arising from obtaining leased assets for the years ended December 31, 2025 and 2024:
December 31,
(in millions)20252024
Operating leases$7 $66 
Finance leases— 2 
Total lease obligations$7 $68 
The following table presents the terms and discount rates:
December 31,
20252024
Weighted average remaining lease term (years)
Operating leases88
Finance leases77
Weighted average discount rate
Operating leases5.8 %5.7 %
Finance leases6.5 %6.3 %
Schedule of Maturity of Operating Lease Liabilities
The following table presents the maturity of lease liabilities as of December 31, 2025:
(in millions)Operating leasesFinance leases
2026$39 $4 
202731 4 
202825 4 
202920 2 
203015 2 
After 203074 7 
Total (undiscounted) lease payments$204 $23 
Less: Imputed interest46 5 
Present value of lease liabilities$158 $18 
Schedule of Maturity of Finance Lease Liabilities
The following table presents the maturity of lease liabilities as of December 31, 2025:
(in millions)Operating leasesFinance leases
2026$39 $4 
202731 4 
202825 4 
202920 2 
203015 2 
After 203074 7 
Total (undiscounted) lease payments$204 $23 
Less: Imputed interest46 5 
Present value of lease liabilities$158 $18