v3.26.1
SEGMENT INFORMATION - Schedule of Segment Adjusted EBITDA and reconciliation of Adjusted EBITDA to Net Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ 310 $ 165 $ 572 $ 312
Metal price lag 129 (19) 226 20
Depreciation and amortization (84) (82) (167) (160)
Impairment of assets 1 0 (3) 0
Share based compensation (8) (7) (19) (13)
Pension and other post-employment benefits - non-operating gains 4 4 7 7
Restructuring costs (2) (1) (5) (2)
Unrealized (losses) / gains on derivatives (102) 33 (60) 21
Unrealized exchange gains / (losses) from the remeasurement of monetary assets and liabilities – net 0 1 1 0
Losses on disposal (1) (1) (1) (1)
Other 0 (2) 0 1
Expenses on factoring arrangements (5) (6) (9) (11)
Finance costs - net (28) (29) (56) (56)
Income before tax 214 56 486 118
Income tax expense (66) (20) (142) (44)
Net income 148 36 344 74
Flooding of facilities, Valais, Switzerland        
Segment Reporting [Line Items]        
Insurance proceeds from catastrophes       9
Loss from catastrophes   2   7
A&T        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 135 84 238 165
P&ARP        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 165 74 317 135
AS&I        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 26 18 49 34
H&C        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ (16) $ (12) $ (32) $ (23)