DEBT (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of debt instruments



		At June 30, 2026								At December 31, 2025
(in millions of U.S. dollars)		Nominal Value in Currency	Nominal rate	Effective rate	Face Value	Debt issuance costs	Accrued interest	Carrying value		Carrying value
Secured Pan-U.S. ABL (due 2029)		$—	Floating	5.08%	—	—	1	1		—
Senior Unsecured Notes
Issued June 2020 and due 2028		$325	5.625%	6.05%	325	(2)	1	324		323
Issued February 2021 and due 2029		$500	3.750%	4.05%	500	(3)	4	501		500
Issued June 2021 and due 2029		€300	3.125%	3.41%	342	(2)	4	344		355
Issued August 2024 and due 2032		$350	6.375%	6.77%	350	(5)	8	353		353
Issued August 2024 and due 2032		€300	5.375%	5.73%	342	(5)	7	344		354
Finance lease liabilities					28	—	1	29		32
Other loans					27	—	—	27		27
Total debt					1,914	(17)	26	1,923		1,944
Of which non-current								1,881		1,905
Of which current (A)								42		39

(A)Current portion of debt includes mainly accrued interest and current portions of finance leases and other long-term loans relating to the

sale and leaseback of assets.