Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Derivative Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The tables below present information about the Company’s derivative financial assets and liabilities measured at fair value on a recurring basis (dollars in millions).


		As of
		June 30, 2026													December 31, 2025
						Fair Value Measurements													Fair Value Measurements
Description		Nominal volume				Derivative asset (Other current assets)				Derivative liability (Other current liabilities)					Nominal volume				Derivative asset (Other current assets)				Derivative liability (Other current liabilities)
Derivatives not designated as hedging instruments
Foreign exchange swaps, less than 6 months		$	2,417		1)	$	18		2)	$	49		3)		$	3,294		4)	$	12		5)	$	24		6)
Total derivatives not designated as hedging instruments		$	2,417			$	18			$	49				$	3,294			$	12			$	24

1) Net nominal amount after deducting for offsetting swaps under ISDA agreements is $2,417 million.

2) Net amount after deducting for offsetting swaps under ISDA agreements is $18 million.

3) Net amount after deducting for offsetting swaps under ISDA agreements is $49 million.

4) Net nominal amount after deducting for offsetting swaps under ISDA agreements is $3,294 million.

5) Net amount after deducting for offsetting swaps under ISDA agreements is $12 million.

6) Net amount after deducting for offsetting swaps under ISDA agreements is $24 million.

Fair Value of Debt

The fair value and carrying value of debt is summarized in the table below (dollars in millions).


		As of
		June 30, 2026								December 31, 2025
		Carrying value1)				Fair value				Carrying value1)				Fair value
Long-term debt
Bonds		$	1,665			$	1,668			$	1,715			$	1,736
Loans			21				21				17				17
Other			2				2				2				2
Total long-term debt			1,688				1,691				1,734				1,755

Short-term debt
Short-term portion of long-term debt			—				—				285				287
Overdrafts and other short-term debt			350				350				134				134
Total short-term debt		$	350			$	350			$	419			$	421

1) Debt as reported in balance sheet.