v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities at Fair Value
The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at June 30, 2026 and December 31, 2025:
Total Carrying Value
in the
Consolidated
Balance Sheets		Quoted Prices in Active
Markets for Identical
Assets/Liabilities
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
(In millions)20262025202620252026202520262025
Assets:
Investments$13 $13 $13 $13 $— $— $— $— 
Foreign Exchange Contracts38 6 — — 38 6 — — 
Total Assets at Fair Value$51 $19 $13 $13 $38 $6 $— $— 
Liabilities:
Foreign Exchange Contracts$16 $30 $— $— $16 $30 $— $— 
Total Liabilities at Fair Value$16 $30 $— $— $16 $30 $— $— 
Schedule of Supplemental Fair Value Information
The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at June 30, 2026 and December 31, 2025:
(In millions)June 30,
2026		December 31,
2025
Fixed Rate Debt:(1)
Carrying amount — liability$5,516 $4,496 
Fair value — liability5,293 4,422 
Variable Rate Debt:(1)
Carrying amount — liability$1,059 $935 
Fair value — liability1,037 935 
(1)Excludes Notes Payable and Overdrafts of $359 million and $506 million at June 30, 2026 and December 31, 2025, respectively, of which $186 million and $216 million, respectively, are at fixed rates and $173 million and $290 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.