v3.26.1
FINANCE COSTS - NET
 3 Months Ended
Mar. 31, 2026
Other Income and Expenses [Abstract]  
FINANCE COSTS - NET NOTE 5 - FINANCE COSTS - NET
Three months ended March 31,
(in millions of U.S. dollars)
Notes
2026
2025
Interest expense on borrowings (A)
(26)
(25)
Interest cost on pension and other long-term benefits
13
(2)
(2)
Realized and unrealized (losses) / gains on debt derivatives at fair value (B)
12
5
(9)
Realized and unrealized exchange (losses) / gains on financing activities - net (B)
(4)
10
Other finance expenses
(2)
(2)
Capitalized borrowing costs (C)
1
1
Finance expenses
(28)
(27)
Finance costs - net
(28)
(27)
(A)For the three months ended March 31, 2026, and 2025, interest expense on borrowings included $24 million and $22 million of interest
expenses related to Constellium SE Senior Notes including amortization of debt issuance costs, respectively.
(B) The Group hedges its currency exposure when using external funding sources in a currency other than the functional currency of the
entities being funded. Changes in the fair value of these hedging derivatives are recognized within Finance costs – net in the Interim
Consolidated Income Statement.
(C) Borrowing costs directly attributable to the construction of assets are capitalized. The capitalization rate was 5% for the three months
ended March 31, 2026, and 2025.