Guarantees made by our consolidated subsidiaries consisted of the following:


(In millions)	June 30, 2026
Financial guarantees(a)	$	188.8
Performance guarantees(b)	2,412.9
Maximum potential undiscounted payments	$	2,601.7

(a)Financial guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on changes in an underlying agreement that is related to an asset, a liability, or an equity security of the guaranteed party. These tend to be drawn down only if there is a failure by another entity to fulfill its financial obligations.

(b)Performance guarantees represent contracts that contingently require a guarantor to make payments to a guaranteed party based on another entity's failure to perform under a non-financial obligating agreement. Events that trigger payment are performance-related, such as failure to ship a product or provide a service.