v3.26.1
FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)
6 Months Ended
Jun. 30, 2026
FINANCIAL INSTRUMENTS AND DERIVATIVES  
Schedule of Effect of Derivative Instruments on Statements of Operations

Location and Amount of Gain (Loss) Recognized in
Statements of Operations

Three Months Ended

Three Months Ended

June 30, 2026

June 30, 2025

  ​

Cost of
sales

Other (expense) income, net

Cost of
sales

Other (expense) income, net

Total amount of income and (expense) line items presented in the statements of operations in which the effects of derivative instruments are recorded

$

(745.7)

$

(5.5)

$

(747.7)

$

(0.2)

The effects of cash flow hedge instruments:

Commodity cash flow hedges

Amount of loss reclassified from AOCI into income

$

$

$

(0.8)

$

The effects of derivatives not designated as hedge instruments:

Foreign exchange forward contracts

Amount of gain (loss) recognized in income

$

$

$

$

(20.0)

Location and Amount of Gain (Loss) Recognized in
Statements of Operations

Six Months Ended

Six Months Ended

June 30, 2026

June 30, 2025

  ​

Cost of
sales

Other (expense) income, net

Cost of
sales

Other (expense) income, net

Total amount of income and (expense) line items presented in the statements of operations in which the effects of derivative instruments are recorded

$

(1,408.7)

$

(9.7)

$

(1,468.7)

$

23.0

The effects of cash flow hedge instruments:

Commodity cash flow hedges

Amount of loss reclassified from AOCI into income

$

$

$

(1.1)

$

The effects of derivatives not designated as hedge instruments:

Foreign exchange forward contracts

Amount of gain (loss) recognized in income

$

$

0.3

$

$

(30.0)

Commodity economic hedges

Amount of loss recognized in income

$

$

$

(1.9)

$

Schedule of Effect of Hedges on AOCI

Gain (Loss) Recognized in AOCI on Balance Sheet

Gain (Loss) Recognized in AOCI on Balance Sheet

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Designated as Cash Flow Hedges

Commodity cash flow hedges

$

$

(0.6)

$

$

(0.6)

Total

$

$

(0.6)

$

$

(0.6)

Gain (Loss) Recognized in Other income, net in Statement of Operations

Gain (Loss) Recognized in Other income, net in Statement of Operations

Three Months Ended

Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Settlements and changes in the fair value of forward contracts (not designated as hedges)

  ​ ​ ​

$

  ​ ​ ​

$

(20.0)

$

0.3

  ​ ​ ​

$

(30.0)

Remeasurement of foreign currency-denominated assets and liabilities

0.5

20.8

(5.4)

28.8

Total

$

0.5

$

0.8

$

(5.1)

$

(1.2)

Schedule of Gross and Net Unrealized Gains and Losses and Balance Sheet Classification

December 31, 2025

Foreign

Exchange

Commodity

Forward

Cash Flow

Balance Sheet Classification

  ​ ​ ​

Contracts

Hedges

Total

Liability Derivatives:

Accounts payable

$

(1.6)

$

(0.1)

$

(1.7)

Net derivative liability position

$

(1.6)

$

(0.1)

$

(1.7)

Total net derivative position

$

(1.6)

$

(0.1)

$

(1.7)