v3.26.1
SEGMENT REPORTING - Reconciliation of Adjusted EBITDA less Capex to Income before income taxes (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]        
Gain related to settlement of litigation matters     $ 89  
Depreciation and amortization $ (129) $ (158) (260) $ (312)
Transformation costs (30) (38) (55) (70)
Interest expense (300) (418) (553) (1,067)
Interest and dividend income 201 234 388 475
Net (losses) gains on equity securities (25) 21 (132) 24
Foreign currency transaction gains (losses) on the remeasurement of certain Euro-denominated debt and accrued interest and gains on debt-related foreign currency derivative instruments [1] 180 (989) 482 (1,409)
Change in fair value of the conversion option related to the convertible senior notes 0 5 [2] 0 163 [2]
Income before income taxes 2,560 1,104 3,959 1,500
Reportable Segment | Operating Segments        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA less Capex 2,631 2,436 3,893 3,479
Additions to property and equipment 80 60 162 170
Gain related to settlement of litigation matters [3] 0 0 89 0
Depreciation and amortization [4] (129) (158) (260) (312)
Transformation costs [5] (29) (36) (52) (68)
Interest expense [4] (300) (418) (553) (1,067)
Interest and dividend income [4] 201 234 388 475
Net (losses) gains on equity securities [6] (25) 21 (132) 24
Foreign currency transaction gains (losses) on the remeasurement of certain Euro-denominated debt and accrued interest and gains on debt-related foreign currency derivative instruments [6] 195 (961) 528 (1,350)
Change in fair value of the conversion option related to the convertible senior notes [7] 0 5 0 163
Other [8] (64) (73) (104) (137)
Income before income taxes 2,560 1,104 3,959 1,500
Reportable Segment | Netherlands Pension Fund Matter | Operating Segments        
Segment Reporting [Line Items]        
Adjustment related to the Netherlands pension fund matter [3] $ 0 $ (6) $ 0 $ 123
[1] Includes gains of $195 million and $528 million for the three and six months ended June 30, 2026, respectively, and losses of $961 million and $1.4 billion for the three and six months ended June 30, 2025, respectively, related to Euro-denominated debt and accrued interest that were not designated as net investment hedges (see Note 12). Foreign currency transaction gains (losses) also includes gains and losses related to derivative contracts (see Note 6).
[2] See Note 9 for additional information.
[3] See Note 13 for additional information.
[4] See the Unaudited Consolidated Statements of Operations.
[5] See Note 17 for additional information.
[6] See Note 15 for additional information.
[7] See Note 9 for additional information.
[8] Primarily consists of the expenses of corporate headquarters and certain other functional departments.