v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at June 30, 2026 and December 31, 2025.

 

 

 

 

 

Fair Value Using Level 2 Inputs

 

 

 

Balance Sheet Location

 

June 30, 2026

 

 

December 31, 2025

 

Asset derivatives:

 

 

 

 

 

 

 

 

Foreign currency forward contracts
not designated as a hedging instrument

 

Accounts and notes receivable, net (Note 8)

 

$

—

 

 

$

—

 

Foreign currency forward contracts
designated as a cash flow hedge

 

Accounts and notes receivable, net (Note 8)

 

 

5

 

 

—

 

Foreign currency forward contracts designated as a net investment hedge

 

Accounts and notes receivable, net (Note 8)

 

 

1

 

 

 

 

Cross-currency swap designated as a net investment hedge

 

Accounts and notes receivable, net (Note 8)

 

 

1

 

 

 

—

 

Total asset derivatives

 

 

 

$

7

 

$

—

 

 

 

 

 

 

 

 

 

 

Liability derivatives:

 

 

 

 

 

 

 

 

Foreign currency forward contracts
not designated as a hedging instrument

 

Other accrued liabilities (Note 14)

 

$

—

 

$

—

 

Foreign currency forward contracts
designated as a cash flow hedge

 

Other accrued liabilities (Note 14)

 

 

—

 

 

 

3

 

Interest rate swaps
designated as a cash flow hedge

 

Other accrued liabilities (Note 14)

 

 

1

 

 

 

3

 

Foreign currency forward contracts
designated as a fair value hedge

 

Other accrued liabilities (Note 14)

 

 

3

 

 

 

 

Cross-currency swap designated as a net investment hedge

 

Other accrued liabilities (Note 14)

 

 

48

 

 

 

59

 

Total liability derivatives

 

 

 

$

52

 

$

65

 
Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the three and six months ended June 30, 2026 and 2025.

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

Cost of

 

 

Interest

 

 

Other

 

 

Comprehensive

 

Three Months Ended June 30,

 

Goods Sold

 

 

Expense, Net

 

 

Income, Net

 

 

Loss

 

2026

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

—

 

 

$

—

 

 

$

(3

)

 

$

—

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

2

 

Interest rate swaps designated as a cash flow hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Euro-denominated debt designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

Foreign currency forward contract designated as a net investment hedge

 

 

 

 

 

 

 

 

 

 

 

1

 

Foreign currency forward contract designated as a fair value hedge

 

 

 

 

 

 

 

 

(3

)

 

 

 

Cross-currency swap designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5

)

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

—

 

 

$

—

 

 

$

1

 

 

$

—

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

2

 

 

 

—

 

 

 

—

 

 

 

(14

)

Interest rate swaps designated as a cash flow hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Euro-denominated debt designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(40

)

Cross-currency swap designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(61

)

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

Cost of

 

 

Interest

 

 

Other

 

 

Comprehensive

 

Six Months Ended June 30,

 

Goods Sold

 

 

Expense, Net

 

 

Income, Net

 

 

Loss

 

2026

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

—

 

 

$

—

 

 

$

(6

)

 

$

—

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

6

 

Interest rate swaps designated as a cash flow hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Euro-denominated debt designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

9

 

Foreign currency forward contract designated as a net investment hedge

 

 

 

 

 

 

 

 

 

 

 

1

 

Foreign currency forward contract designated as a fair value hedge

 

 

 

 

 

 

 

 

(3

)

 

 

 

Cross-currency swap designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts not designated as a hedging instrument

 

$

—

 

 

$

—

 

 

$

1

 

 

$

—

 

Foreign currency forward contracts designated as a cash flow hedge

 

 

5

 

 

 

—

 

 

 

—

 

 

 

(18

)

Interest rate swaps designated as a cash flow hedge

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

(1

)

Euro-denominated debt designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(55

)

Cross-currency swap designated as a net investment hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(77

)