FINANCIAL INSTRUMENTS, HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at June 30, 2026 and December 31, 2025.


	June 30, 2026								December 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:

Interest rate swaps (1)	$	—	$	1	$	—	$	1	$	—	$	—	$	—	$	—
Cross-currency swaps (2)	—		5		—		5		—		5		—		5

Other assets:

Interest rate swaps (1)	—		1		—		1		—		—		—		—

Investments in equity securities	1		—		—		1		1		—		—		1
Liabilities:
Other accrued liabilities:


Cross-currency swaps (2)	—		32		—		32		—		51		—		51

Contingent consideration	—		—		4		4		—		—		6		6
Other liabilities:


Cross-currency swaps (2)	—		37		—		37		—		50		—		50

Short-term borrowings:
2027 Dollar Senior Notes	—		499		—		499		—		—		—		—
Long-term borrowings:
2029 Dollar Term Loans	—		1,344		—		1,344		—		1,481		—		1,481
2027 Dollar Senior Notes	—		—		—		—		—		501		—		501
2029 Dollar Senior Notes	—		668		—		668		—		674		—		674
2031 Dollar Senior Notes	—		520		—		520		—		527		—		527

(1) Cash flow hedge

(2) Net investment hedge

Schedule of Fair Value, Liability Activity

The table below presents a roll forward of activity for the Level 3 liabilities for the six months ended June 30, 2026.


	Fair Value Using Significant Unobservable Inputs (Level 3)
Beginning balance at December 31, 2025	$	6
Contingent consideration from business acquisition	2
Payments	(1)
Change in fair value	(2)
Foreign currency translation	(1)
Ending balance at June 30, 2026	$	4

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the locations and amounts recognized during the three and six months ended June 30, 2026 and 2025 for the Company's cash flow and net investment hedges.


		Three Months Ended June 30,
		2026				2025
Derivatives in Cash Flow and Net Investment Hedges	Location of (Gain) Loss Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Gain Recognized in Income		Net Amount of Loss Recognized in OCI on Derivatives		Amount of Gain Recognized in Income

Interest rate swaps	Interest expense, net	$	(1)	$	—	$	—	$	—

Cross-currency swaps	Interest expense, net	$	(4)	$	(4)	$	85	$	(4)


		Six Months Ended June 30,
		2026				2025
Derivatives in Cash Flow and Net Investment Hedges	Location of (Gain) Loss Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Gain Recognized in Income		Net Amount of Loss Recognized in OCI on Derivatives		Amount of Gain Recognized in Income

Interest rate swaps	Interest expense, net	$	(2)	$	—	$	—	$	—

Cross-currency swaps	Interest expense, net	$	(38)	$	(8)	$	105	$	(9)

Schedule of Derivatives Not Designated as Hedging Instruments

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment are recorded in earnings as follows:


Derivatives Not Designated as Hedging Instruments under ASC 815	Location of Loss (Gain) Recognized in Income on Derivatives	Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025

Foreign currency forward contracts	Other (income) expense, net	$	4	$	(17)	$	10	$	(22)