v3.26.1
DERIVATIVES AND HEDGING ACTIVITIES RISK MANAGEMENT (Tables)
 6 Months Ended
Jun. 27, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The notional amounts of outstanding interest rate derivatives are summarized as follows:

June 27, 2026December 31, 2025
Currency
Notional amount
(in millions)
Maturity date
Notional amount
(in millions)
Maturity date
Designated cash flow hedges:
Interest rate swaps
USD
1,000 Dec'20261,000 Dec'2026
Interest rate caps
USD
1,500 Dec'20262,000 Dec'2026
Undesignated derivative instruments:
Interest rate cap
USD
500 Dec'2026— — 
Schedule of Cash Flow Hedges Included in AOCI
The table below presents the effect of cash flow hedge accounting on AOCI for each reporting period:

Three months ended
Six months ended
(in millions)
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Gain (loss) recognized in AOCI Included in effectiveness testingInterest rate swaps$1 $3 $5 $— 
Interest rate caps— 1 3 (2)
Excluded from effectiveness testingInterest rate caps— (1)— (3)
1 3 8 (5)
Gain (loss) reclassified from AOCI into earningsIncluded in effectiveness testingInterest rate swaps5 14 11 27 
Interest rate caps6 11 11 22 
Excluded from effectiveness testingInterest rate caps(1)(2)(2)(4)
10 23 20 45 
Total change in AOCI$(9)$(20)$(12)$(50)
Schedule of Classification and Fair Value of the Derivatives
The table below summarizes the classification and fair value of the designated derivatives for each reporting period:

(in millions)
Designated cash flow hedgesLocationJune 27, 2026December 31, 2025
Interest rate swapsOther current assets$13 $21 
Interest rate capsOther current assets10 15 
Total designated cash flow hedges$23 $36