Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

The following table shows the fair value and balance sheet locations of our derivative instruments as of June 30, 2026 and December 31, 2025:


(In millions)	Notional Amount		Other Current Assets		Other Non-Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Type of Hedge
June 30, 2026
Derivatives designated as hedges:
Foreign currency forward contracts	$	1,139.9	$	—	$	—	$	44.9	$	—	Fair value
Cross-currency swap contracts	250.0		—		—		—		7.0		Cash flow
Foreign currency forward contracts	23.6		1.0		—		—		—		Cash flow
Commodity contracts	3.6		.1		—		.5		—		Cash flow
Foreign currency forward contracts with collars	1,139.9		34.5		—		—		—		Net investment
Cross-currency swap contracts with collars	77.1		—		1.0		.7		.9		Net investment
Total			$	35.6	$	1.0	$	46.1	$	7.9

December 31, 2025
Derivatives designated as hedges:
Foreign currency forward contracts	$	1,173.8	$	—	$	—	$	—	$	4.5	Fair value
Cross-currency swap contracts	250.0		—		—		—		9.9		Cash flow
Commodity contracts	1.7		—		—		.3		—		Cash flow
Foreign currency forward contracts with collars	1,173.8		—		2.6		—		—		Net investment
Total			$	—	$	2.6	$	.3	$	14.4

The following table shows the fair value and balance sheet locations of our derivative instruments as of June 30, 2026 and December 31, 2025:


(In millions)	Notional Amount		Other Current Assets		Other Non-Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Type of Hedge
June 30, 2026
Derivatives designated as hedges:
Foreign currency forward contracts	$	1,139.9	$	—	$	—	$	44.9	$	—	Fair value
Cross-currency swap contracts	250.0		—		—		—		7.0		Cash flow
Foreign currency forward contracts	23.6		1.0		—		—		—		Cash flow
Commodity contracts	3.6		.1		—		.5		—		Cash flow
Foreign currency forward contracts with collars	1,139.9		34.5		—		—		—		Net investment
Cross-currency swap contracts with collars	77.1		—		1.0		.7		.9		Net investment
Total			$	35.6	$	1.0	$	46.1	$	7.9

December 31, 2025
Derivatives designated as hedges:
Foreign currency forward contracts	$	1,173.8	$	—	$	—	$	—	$	4.5	Fair value
Cross-currency swap contracts	250.0		—		—		—		9.9		Cash flow
Commodity contracts	1.7		—		—		.3		—		Cash flow
Foreign currency forward contracts with collars	1,173.8		—		2.6		—		—		Net investment
Total			$	—	$	2.6	$	.3	$	14.4

The following table shows the components of net gain (loss) recognized in income related to derivative instruments:


	Three Months Ended				Six Months Ended
(In millions)	June 30, 2026		June 28, 2025		June 30, 2026		June 28, 2025
Gain (loss) on derivatives designated as fair value hedges:
Foreign currency forward contracts - Marketing, general and administrative expense	$	(7.5)	$	46.4	$	(34.0)	$	66.3

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.