v3.26.1
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Values of Derivative Instruments Designated as Hedges
The fair values of the Company’s derivative instruments and the line items on the accompanying condensed consolidated balance sheets to which they were recorded are summarized in the following table:
(in millions)Balance Sheet ClassificationJune 30, 2026December 31, 2025
AssetsLiabilitiesNotionalAssetsLiabilitiesNotional
Derivatives designated as hedging instruments:
Interest rate swapsOther current liabilities$— $14 $1,463 $— $45 $1,470 
Cross-currency swaps Other current liabilities— 267 2,713 — 322 2,720 
Foreign exchange forward contractsOther current liabilities— 3 134 — — 127 
Total derivatives$— $284 $— $367 
Schedule of Effect of Cash Flow Hedging Instruments on Other Comprehensive (Loss) Income
The pre-tax effect of the Company’s cash flow hedging instruments on other comprehensive income is summarized in the following table:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2026202520262025
Interest rate swaps$18 $(14)$31 $(40)
Foreign exchange forward contracts— 6 (3)11 
Total$18 $(8)$28 $(29)