v3.26.1
Financial Instruments (Tables)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Derivative Instruments, Gain (Loss) [Line Items]    
Fair Value of Derivatives Instruments  
June 30, 2026
(In millions)Balance Sheet LocationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Interim Consolidated Balance Sheets
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contractsOther current assets$2 $— $2 
Commodity contractsOther current assets5 — 5 
Derivatives not designated as hedging instruments:
Foreign currency contractsOther current assets29 (24)5 
 Commodity contractsOther current assets3 — 3 
Total asset derivatives$39 $(24)$15 
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities$19 $— $19 
Commodity contractsAccrued and other current liabilities1 — 1 
Derivatives not designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities74(24)50 
Commodity contractsAccrued and other current liabilities3 — 3 
Total liability derivatives$97 $(24)$73 
December 31, 2025
(In millions)Balance Sheet LocationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contractsOther current assets$5 $— $5 
Commodity contractsOther current assets1 — 1 
Derivatives not designated as hedging instruments:
Foreign currency contracts
Other current assets23 (21)2 
Commodity contractsOther current assets3— 3 
Total asset derivatives
$32 $(21)$11 
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities$1 $— $1 
Commodity contractsAccrued and other current liabilities3 — 3 
Derivatives not designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities40 (21)19 
Commodity contractsAccrued and other current liabilities6 — 6 
Total liability derivatives
$50 $(21)$29 

June 30, 2025
(In millions)Balance Sheet LocationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Interim Consolidated Balance Sheets
Asset derivatives:
Derivatives not designated as hedging instruments:
Foreign currency contractsOther current assets$146 $(115)$31 
 Commodity contractsOther current assets2 — 2 
Total asset derivatives
$148 $(115)$33 
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities$41 $— $41 
Commodity contractsAccrued and other current liabilities2 — 2 
Derivatives not designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities149 (115)34 
Commodity contractsAccrued and other current liabilities2 — 2 
Total liability derivatives
$194 $(115)$79 
1.    Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
Amount of Gain (Loss) Recognized in OCI - Pre-Tax1
Three Months Ended
June 30,		Six Months Ended June 30,
(In millions)2026202520262025
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts$— $(113)$— $(103)
Cash flow hedges:
Foreign currency contracts(13)— (45)— 
Commodity contracts(17)(14)10 (12)
Total derivatives designated as hedging instruments$(30)$(127)$(35)$(115)
1.OCI is defined as other comprehensive income (loss).
  
Effect of Derivatives
Amount of Gain (Loss) Recognized in Income - Pre-Tax1
Three Months Ended
June 30,		Six Months Ended June 30,
(In millions)2026202520262025
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts 2
$(3)$— $(3)$6 
Commodity contracts 2
3 (55)— (74)
Total derivatives designated as hedging instruments$— $(55)$(3)$(68)
Derivatives not designated as hedging instruments:
Foreign currency contracts 3
$(79)$129 $(231)$149 
Foreign currency contracts 2
(29)(60)(40)(69)
Commodity contracts 2,4
— 2 8 9 
Commodity contracts 3
— — — — 
Total derivatives not designated as hedging instruments$(108)$71 $(263)$89 
Total derivatives$(108)$16 $(266)$21 
1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.
2.Recorded in cost of goods sold in the interim Consolidated Statements of Operations.
3.Recognized in other income (expense) - net in the interim Consolidated Statements of Operations. Note that net gain (loss) from foreign currency contracts was partially offset by the related gain (loss) on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 5 - Supplementary Information, to the interim Consolidated Financial Statements, for additional information.
4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the interim Consolidated Statements of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.
  
Time Deposits and Money Market Funds    
Derivative Instruments, Gain (Loss) [Line Items]    
Debt Securities, Held-to-Maturity
Held-to-Maturity SecuritiesAmortized Cost
(in millions)
Balance Sheet LocationJune 30, 2026December 31, 2025June 30, 2025
Time deposits and money market funds
Cash equivalents 1
$1,356 $3,431 $1,122 
Time deposits
Marketable securities 2
$— $1 $1 
1.Maturity at time of purchase was three months or less.
2.Maturity at time of purchase was more than three months to less than one year.
  
Foreign Government Debt [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Debt Securities, Available-for-Sale
Available-for-Sale SecuritiesFair Value
(in millions)Balance Sheet LocationJune 30, 2026December 31, 2025June 30, 2025
Foreign government bonds
Marketable securities 1
$— $8 $75 
Foreign government bonds
Other assets 2
$23 $22 $27 
1.Maturity at time of purchase was more than three months to less than one year.
2.Maturity at time of purchase was more than one year.
  
Commodity Contract [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)  
Three Months Ended
June 30,		Six Months Ended
June 30,
(In millions)2026202520262025
Beginning balance$33 $(32)$9 $(49)
Additions and revaluations of derivatives designated as cash flow hedges(15)(12)6 (10)
Clearance of hedge results to earnings(2)43 1 58 
Ending balance$16 $(1)$16 $(1)
Foreign Currency Contract [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)  
Three Months Ended
June 30,		Six Months Ended June 30,
(In millions)2026202520262025
Beginning balance$(27)$— $5 $13 
Additions and revaluations of derivatives designated as cash flow hedges(13)— (45)— 
Clearance of hedge results to earnings3 — 3 (13)
Ending balance$(37)$— $(37)$—