v3.26.1
DERIVATIVES (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Net Investment Hedge Activity in AOCL
The following table summarizes the losses recognized in accumulated other comprehensive loss (AOCL):
Three months endedSix months ended
June 30,June 30,
In millions2026202520262025
Foreign exchange forwards (1)
$(7)$(45)$(2)$(69)
Cross-currency interest rate swaps (1)
(8)(8)(9)(8)
(1) There were no material gains or losses reclassified from AOCL into earnings for the three and six months ended June 30, 2026.
Schedule of Gains (Losses) on Interest Rate Derivatives
The following table summarizes the gains and losses:
Three months endedSix months ended
June 30,June 30,
In millions2026202520262025
Type of SwapGain (Loss) 
on Swaps		Gain (Loss) on BorrowingsGain (Loss) 
on Swaps		Gain (Loss) on BorrowingsGain (Loss) 
on Swaps		Gain (Loss) on BorrowingsGain (Loss) 
on Swaps		Gain (Loss) on Borrowings
Interest rate swaps (1)
$(11)$12 $10 $(12)$(13)$18 $27 $(26)
(1) The difference between the gain (loss) on swaps and borrowings represents hedge ineffectiveness.
Schedule of Derivatives Not Designated as Hedging Instruments
The following table summarizes the effect on our Condensed Consolidated Statements of Net Income for derivative instruments not designated as hedging instruments:
Three months endedSix months ended
June 30,June 30,
In millions2026202520262025
Loss recognized in income - Cost of sales (1)
$— $(1)$— $(4)
Gain (loss) recognized in income - Other income, net (1)
15 89 (5)150 
(1) Includes foreign currency forward contracts.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the location and fair value of derivative instruments on our Condensed Consolidated Balance Sheets:
Derivatives Designated as Hedging InstrumentsDerivatives Not Designated as Hedging Instruments
In millionsJune 30,
2026		December 31,
2025		June 30,
2026		December 31,
2025
Notional amount$4,158 $3,241 $3,607 $4,316 
Derivative assets
Prepaid expenses and other current assets (1)
$33 $16 $37 $39 
Derivative liabilities
Other accrued expenses$22 $29 $3 $3 
Other liabilities97 72 — — 
Total derivative liabilities (1)
$119 $101 $3 $3 
(1) Estimates of the fair value of all derivative assets and liabilities above are derived from Level 2 inputs, which are estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 input measures and there were no transfers into or out of Level 2 or 3 during the six months ended June 30, 2026, or the year ended December 31, 2025.