v3.26.1
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and (Liabilities) Measured at Fair Value

The following table summarizes the Company’s financial assets and (liabilities) measured at fair value as of June 30, 2026 and December 31, 2025 (dollars in millions):

 

 

 

Fair Value Measurements Using

 

 

 

Quoted Prices in Active
Markets for Identical
Assets (Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

TOTAL

 

 

 

June 30,
2026

 

 

December 31,
2025

 

 

June 30,
2026

 

 

December 31,
2025

 

 

June 30,
2026

 

 

December 31,
2025

 

Cash equivalents

 

$

31

 

 

$

134

 

 

$

 

 

$

 

 

$

31

 

 

$

134

 

Marketable securities

 

 

16

 

 

 

24

 

 

 

 

 

 

 

 

 

16

 

 

 

24

 

Rabbi trust assets

 

 

25

 

 

 

24

 

 

 

 

 

 

 

 

 

25

 

 

 

24

 

Deferred compensation obligation

 

 

(25

)

 

 

(24

)

 

 

 

 

 

 

 

 

(25

)

 

 

(24

)

Derivative assets

 

 

 

 

 

 

 

 

11

 

 

 

 

 

 

11

 

 

 

 

Derivative liabilities

 

 

 

 

 

 

 

 

(18

)

 

 

 

 

 

(18

)

 

 

 

Debt securities

 

 

 

 

 

 

 

 

3

 

 

 

3

 

 

 

3

 

 

 

3

 

Total

 

$

47

 

 

$

158

 

 

$

(4

)

 

$

3

 

 

$

43

 

 

$

161