v3.26.1
Derivative Instruments and Hedging (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments on the Company’s Condensed Consolidated Balance Sheets
The following table summarizes the effect of derivative instruments on the Company’s unaudited condensed consolidated balance sheets (in millions):

Derivative Assets(1)(2)
Location
December 31,
2025		June 30,
2026
Derivatives designated as hedging instruments:
Foreign exchange contracts (current) Prepaids and other current assets$4 $70 
Derivatives not designated as hedging instruments:
Foreign exchange contracts (current)Prepaids and other current assets$16 $14 

Derivative Liabilities(1)(2)
Location
December 31,
2025		June 30,
2026
Derivatives designated as hedging instruments:
Foreign exchange contracts (current)
Accrued expenses, accounts payable, and other current liabilities
$61 $9 
Derivatives not designated as hedging instruments:
Foreign exchange contracts (current)Accrued expenses, accounts payable, and other current liabilities$7 $33 

(1)Derivative assets and liabilities are measured using Level 2 inputs.
(2)Noncurrent derivative assets and liabilities were immaterial.
Schedule of Derivative Instruments Designated as Cash Flow Hedges and the Impact of Derivative Contracts on AOCI
The following table presents the impact of derivative instruments designated as cash flow hedges on AOCI, net of tax (in millions):
Gain (Loss) Recognized in Other Comprehensive Income (Loss)
Three Months Ended June 30,Six Months Ended June 30,
2025202620252026
Derivatives designated as cash flow hedges:
Foreign exchange contracts
$(141)$6 $(202)$64