Derivatives And Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

As of June 30, 2026, the Company had the following outstanding notional amounts related to commodity and foreign currency forward and option contracts designated as cash flow hedges that were entered into to hedge forecasted exposures:

Commodity

Quantity Hedged

Unit of Measure

Notional Amount
(Approximate USD Equivalent)

(in thousands)

(in millions)

Copper

35,263

pounds

215


Foreign Currency	Quantity Hedged	Unit of Measure	Notional Amount (Approximate USD Equivalent)

	(in millions)
Mexican Peso	5,541	MXN	$	315
Chinese Yuan Renminbi	1,110	RMB	$	165
Euro	38	EUR	$	45
Polish Zloty	688	PLN	$	180

Hungarian Forint	25,225	HUF	$	80





British Pound	87	GBP	$	115

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative financial instruments from continuing operations recorded in the consolidated balance sheets as of June 30, 2026 and December 31, 2025 are as follows:


	Asset Derivatives			Liability Derivatives			Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location	June 30, 2026		Balance Sheet Location	June 30, 2026		June 30, 2026

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	Other current assets	$	21	Accrued liabilities	$	—
Foreign currency derivatives*	Other current assets	28		Other current assets	5		$	23
Foreign currency derivatives*	Accrued liabilities	1		Accrued liabilities	1		—
Commodity derivatives	Other long-term assets	5		Other long-term liabilities	—
Foreign currency derivatives*	Other long-term assets	4		Other long-term assets	1		3
Foreign currency derivatives*	Other long-term liabilities	—		Other long-term liabilities	1		(1)


Total derivatives designated as hedges		$	59		$	8


	Asset Derivatives			Liability Derivatives			Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet
	Balance Sheet Location	December 31, 2025		Balance Sheet Location	December 31, 2025		December 31, 2025

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	Other current assets	$	23	Accrued liabilities	$	—
Foreign currency derivatives*	Other current assets	21		Other current assets	2		$	19

Commodity derivatives	Other long-term assets	8		Other long-term liabilities	—
Foreign currency derivatives*	Other long-term assets	6		Other long-term assets	2		4

Derivatives designated as net investment hedges:
Foreign currency derivatives	Other current assets	—		Accrued liabilities	1
Total derivatives designated as hedges		$	58		$	5

Derivatives not designated:

Foreign currency derivatives*	Other current assets	$	2	Other current assets	$	—	2




Total derivatives not designated as hedges		$	2		$	—

* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The pre-tax effects of derivative financial instruments in the consolidated statements of operations from continuing operations, and consolidated statements of comprehensive income, including amounts attributable to discontinued operations, for the three and six months ended June 30, 2026 and 2025 are as follows:


Three Months Ended June 30, 2026	Gain (Loss) Recognized in OCI		Gain Reclassified from OCI into Income

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	12	$	11
Foreign currency derivatives	14		7
Derivatives designated as net investment hedges:
Foreign currency derivatives	(1)		—
Total	$	25	$	18


	Loss Recognized in Income

	(in millions)
Derivatives not designated:

Foreign currency derivatives	$	(2)
Total	$	(2)


Three Months Ended June 30, 2025	Gain (Loss) Recognized in OCI		Gain Reclassified from OCI into Income

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	4	$	2
Foreign currency derivatives	76		—
Derivatives designated as net investment hedges:
Foreign currency derivatives	(1)		—
Total	$	79	$	2


	Gain Recognized in Income

	(in millions)
Derivatives not designated:

Foreign currency derivatives	$	3
Total	$	3


Six Months Ended June 30, 2026	Gain (Loss) Recognized in OCI		Gain Reclassified from OCI into Income

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	19	$	20
Foreign currency derivatives	36		13
Derivatives designated as net investment hedges:
Foreign currency derivatives	(2)		—
Total	$	53	$	33


	Loss Recognized in Income

	(in millions)
Derivatives not designated:

Foreign currency derivatives	$	(7)
Total	$	(7)


Six Months Ended June 30, 2025	Gain (Loss) Recognized in OCI		Gain Reclassified from OCI into Income

	(in millions)
Derivatives designated as cash flow hedges:
Commodity derivatives	$	36	$	5
Foreign currency derivatives	117		1
Derivatives designated as net investment hedges:
Foreign currency derivatives	(2)		—
Total	$	151	$	6


	Gain Recognized in Income

	(in millions)
Derivatives not designated:

Foreign currency derivatives	$	4
Total	$	4