v3.26.1
Note 11 - Fair Value Measurements and Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
       

Fair Value

 

Category

 

Balance Sheet Location

 

Fair Value Level

  June 30, 2026  December 31, 2025 

Currency forward contracts

             

Cash flow hedges

 

Accounts receivable - Other

 2  $18  $21 

Cash flow hedges

 

Other accrued liabilities

 2   1   1 

Undesignated

 

Accounts receivable - Other

 2   8   4 

Undesignated

 

Other accrued liabilities

 2   3   7 

Currency swaps

             

Cash flow hedges

 

Other noncurrent liabilities

 2   17   25 

Undesignated

 

Other noncurrent liabilities

 2      2 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
      

June 30, 2026

  

December 31, 2025

 
  

Fair Value Level

 

Carrying Value

  

Fair Value

  

Carrying Value

  

Fair Value

 

Long-term debt

  2  $1,105  $1,136  $2,418  $2,444 
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Underlying Financial Instrument

  

Derivative Financial Instrument

 

Description

 

Type

 

Face Amount

  

Rate

  Notional Amount  

Traded Amount

  

Inflow Rate

  

Outflow Rate

 

Luxembourg Intercompany Notes

 

Receivable

 278   3.70% 278  $300   5.38%  3.70%
Schedule of Derivative Instruments [Table Text Block]
    

Notional Amount (U.S. Dollar Equivalent)

   

Functional Currency

 

Traded Currency

 

Designated

  

Undesignated

  

Total

  

Maturity

U.S. dollar

 

Canadian dollar, Mexican peso

 $209  $75  $284  

Mar-2027

Euro

 

U.S. dollar, Australian dollar, British pound, Hungarian forint, Mexican peso, Swedish krona

  203   12   215  

Sep-2027

Indian rupee

 

U.S. dollar, euro, British pound

      58   58  

Mar-2027

Brazilian real

 

U.S. dollar, euro

  28   11   39  

Dec-2026

South African rand

 

U.S. dollar, euro, Thai baht

      16   16  

Nov-2026

Canadian dollar

 

U.S. dollar

  5   5   10  

Aug-2026

Thai baht

 

U.S. dollar

      58   58  

Jul-2026

British pound

 

U.S. dollar, euro

  7   6   13  

Sep-2026

Mexican peso

 

U.S. dollar

      3   3  

Jul-2026

Swedish krona

 

euro

      2   2  

Jul-2026

Total forward contracts

    452   246   698   
                 

U.S. dollar

 

euro

  318      318  

Nov-2027

Total currency swaps

    318      318   

Total currency derivatives

   $770  $246  $1,016   
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
  

Deferred Gain (Loss) in AOCI

 
  

June 30, 2026

  

December 31, 2025

  Gain (loss) expected to be reclassified into income in one year or less 

Forward Contracts

 $14  $20  $14 

Cross-Currency Swaps

     2     

Total

 $14  $22  $14 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 

Derivatives Designated as Cash Flow Hedges

 

2026

  

2025

  

2026

  

2025

 

Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded

                

Net sales

 $2,010  $1,935  $3,878  $3,716 

Cost of sales

  1,800   1,797   3,499   3,460 

Other income (expense), net

  (20)  (10)  (60)  (11)

(Gain) or loss on cash flow hedging relationships

                

Foreign currency forwards

                

Amount of (gain) loss reclassified from AOCI into income

                

Cost of sales

  (11)  5   (21)  12 

Other income (expense), net

  (3)  (1)  (5)   

Cross-currency swaps

                

Amount of (gain) loss reclassified from AOCI into income

                

Other income (expense), net

  (4)  26   (9)  52 
Derivatives Not Designated as Hedging Instruments [Table Text Block]
  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 

Derivatives Not Designated as Hedging Instruments

 

2026

  

2025

  

2026

  

2025

 

Gain (loss) recognized in income

                

Foreign currency forward contracts

                

Cost of sales

 $2  $1  $6  $ 

Other income (expense), net

  1   (11)  (6)  (17)