v3.26.1
Derivatives And Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
As of March 31, 2026, the Company had the following outstanding notional amounts related to commodity and foreign currency forward and option contracts designated as cash flow hedges that were entered into to hedge forecasted exposures:
CommodityQuantity HedgedUnit of MeasureNotional Amount
(Approximate USD Equivalent)
 (in thousands)(in millions)
Copper87,976 pounds$500 
Foreign CurrencyQuantity HedgedUnit of MeasureNotional Amount
(Approximate USD Equivalent)
 (in millions)
Mexican Peso28,654 MXN$1,580 
Chinese Yuan Renminbi2,550 RMB$370 
Polish Zloty795 PLN$215 
Hungarian Forint24,910 HUF$75 
British Pound76 GBP$100 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of March 31, 2026 and December 31, 2025 are as follows:
 Asset DerivativesLiability DerivativesNet Amounts of Assets and (Liabilities) Presented in the Balance Sheet
 Balance Sheet LocationMarch 31,
2026		Balance Sheet LocationMarch 31,
2026		March 31,
2026
 (in millions)
Derivatives designated as cash flow hedges:
Commodity derivativesOther current assets$51 Accrued liabilities$— 
Foreign currency derivatives*Other current assets76 Other current assets8 $68 
Commodity derivativesOther long-term assets16 Other long-term liabilities— 
Foreign currency derivatives*Other long-term assets11 Other long-term assets3 8 
Total derivatives designated as hedges$154 $11 

 Asset DerivativesLiability DerivativesNet Amounts of Assets and (Liabilities) Presented in the Balance Sheet
 Balance Sheet LocationDecember 31, 2025Balance Sheet LocationDecember 31, 2025December 31, 2025
 (in millions)
Derivatives designated as cash flow hedges:
Commodity derivativesOther current assets$63 Accrued liabilities$— 
Foreign currency derivatives*Other current assets75 Other current assets7 $68 
Commodity derivativesOther long-term assets22 Other long-term liabilities— 
Foreign currency derivatives*Other long-term assets14 Other long-term assets2 12 
Derivatives designated as net investment hedges:
Foreign currency derivativesOther current assets— Accrued liabilities1 
Total derivatives designated as hedges$174 $10 
Derivatives not designated:
Foreign currency derivatives*Other current assets$2 Other current assets$— 2 
Total derivatives not designated as hedges$2 $— 
*    Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The pre-tax effects of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the three months ended March 31, 2026 and 2025 are as follows:

Three Months Ended March 31, 2026Gain (Loss) Recognized in OCIGain Reclassified from OCI into Income
 (in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives$7 $25 
Foreign currency derivatives22 17 
Derivatives designated as net investment hedges:
Foreign currency derivatives(1)— 
Total$28 $42 
 Loss Recognized in Income
(in millions)
Derivatives not designated:
Foreign currency derivatives$(5)
Total$(5)
Three Months Ended March 31, 2025Gain (Loss) Recognized in OCIGain (Loss) Reclassified from OCI into Income
 (in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives$32 $4 
Foreign currency derivatives41 (8)
Derivatives designated as net investment hedges:
Foreign currency derivatives(1)— 
Total$72 $(4)
 Gain Recognized in Income
(in millions)
Derivatives not designated:
Foreign currency derivatives$1 
Total$1