v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Condensed Consolidated Balance Sheet:
June 30, 2026
(dollars in millions)TotalLevel 1Level 2Level 3
Recurring fair value measurements:
Marketable securities held in trusts$711 $638 $73 $ 
Derivative assets300  300  
Derivative liabilities472  472  
December 31, 2025
(dollars in millions)TotalLevel 1Level 2Level 3
Recurring fair value measurements:
Marketable securities held in trusts$750 $676 $74 $— 
Derivative assets436 — 436 — 
Derivative liabilities265 — 265 — 
Schedule of Assets and Liabilities Not Carried at Fair Value
The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Condensed Consolidated Balance Sheet:
 June 30, 2026December 31, 2025
(dollars in millions)Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Long-term debt (excluding finance leases)$37,088 $34,887 $37,627 $35,733 
The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Condensed Consolidated Balance Sheet:
June 30, 2026
(dollars in millions)TotalLevel 1Level 2Level 3
Long-term debt (excluding finance leases)$34,887 $ $33,949 $938 
December 31, 2025
(dollars in millions)TotalLevel 1Level 2Level 3
Long-term debt (excluding finance leases)$35,733 $— $34,800 $933