Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements, Recurring and Nonrecurring

The following table presents the fair value hierarchy levels of the Company’s assets and liabilities at fair value:


(in millions)			Fair Value Hierarchy						March 31, 2026						December 31, 2025
Measured at fair value on a recurring basis:
Non-qualified deferred compensation plan assets			Level 1						$	7					$	7
Non-qualified deferred compensation plan liabilities			Level 1						$	7					$	7
Interest rate derivative financial instrument assets			Level 2						$	10					$	3



Acquisition related contingent consideration			Level 3						$	12					$	14



Measured at fair value on a non-recurring basis:

Other investments (included in Other assets) (1)			Level 3						$	27					$	26

Disclosed at fair value:
5.25% Notes (2)			Level 2						$	499					$	505
Long-term debt, excluding 5.25% Notes (2)			Level 3						$	5,693					$	5,567
Kloosterboer Preference Shares (3)			Level 3						$	280					$	279



(1) The investments in equity securities carried at fair value are subject to transfer restrictions and generally cannot be sold without consent.
(2) The carrying value of long-term debt is disclosed in Note 8, Debt.
(3) The carrying value of Kloosterboer Preference Shares is disclosed in Note 2, Capital structure and noncontrolling interests.