v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value Of Financial Instruments
A summary of the carrying value and fair value of other financial instruments were as follows:
June 30, 2026December 31, 2025
(In millions)Valuation Hierarchy ClassificationCarrying
Value
Fair
Value
Carrying
Value
Fair
Value
Senior notesLevel 1$6,808 $6,832 $6,801 $7,037 
ABL Facility - outstanding balanceLevel 2895 895 452 452 
Total$7,703 $7,727 $7,253 $7,489 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in fair value of the employee benefit commitment:
(In millions)20262025
Beginning balance as of January 1$(169)$(188)
Total expense included in earnings(6)(5)
Payments8 11 
Foreign currency translation5 (11)
Ending balance as of June 30$(162)$(193)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in fair value of the MinnTac option:
(In millions)20262025
Beginning balance as of January 1$54 $95 
Total expense included in earnings(22)(24)
Foreign currency translation(2)
Ending balance as of June 30$30 $76