DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of debt instruments



		At March 31, 2026								At December 31, 2025
(in millions of U.S. dollars)		Nominal Value in Currency	Nominal rate	Effective rate	Face Value	Debt issuance costs	Accrued interest	Carrying value		Carrying value
Secured Pan-U.S. ABL (due 2029)		$50	Floating	4.96%	50	—	1	51		—
Senior Unsecured Notes
Issued June 2020 and due 2028		$325	5.625%	6.05%	325	(2)	5	328		323
Issued February 2021 and due 2029		$500	3.750%	4.05%	500	(3)	8	505		500
Issued June 2021 and due 2029		€300	3.125%	3.41%	345	(3)	3	345		355
Issued August 2024 and due 2032		$350	6.375%	6.77%	350	(5)	3	348		353
Issued August 2024 and due 2032		€300	5.375%	5.73%	345	(5)	2	342		354
Finance lease liabilities					30	—	—	30		32
Other loans					25	—	(1)	24		27
Total debt					1,970	(18)	21	1,973		1,944
Of which non-current								1,938		1,905
Of which current (A)								35		39

(A)Current portion of borrowings include mainly accrued interest and current portions of finance leases and other long-term loans relating

to the sale and leaseback of assets.