Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cash flow hedges included in AOCI

The derivative instruments designated as cash flow hedges included in accumulated other comprehensive loss (“AOCL”) were as follows:


	(Losses) Gains included in AOCL as of
	June 30, 2026		December 31, 2025
Commodity, net of income tax effect of $8 and $3	$	(22)	$	(7)
Foreign currency, net of income tax effect of $1 and $3	(2)		3
Interest rate, net of income tax effect of $1	(1)		(1)
Total	$	(25)	$	(5)

Schedule of fair value and balance sheet location of derivative instruments

The fair value and balance sheet location of our derivative instruments presented gross on the Condensed Consolidated Balance Sheets, were as follows:


	Fair Value of Hedging Instruments as of June 30, 2026
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	4	$	8	$	2	$	11	$	13
Other non-current assets	2		1		3		—		82		82
Assets	6		5		11		2		93		95
Accounts payable	30		11		41		4		5		9
Other non-current liabilities	4		1		5		—		73		73
Liabilities	34		12		46		4		78		82
Net Assets/(Liabilities)	$	(28)	$	(7)	$	(35)	$	(2)	$	15	$	13


	Fair Value of Hedging Instruments as of December 31, 2025
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	13	$	17	$	1	$	5	$	6
Other non-current assets	—		—		—		—		1		1
Assets	4		13		17		1		6		7
Accounts payable	13		11		24		1		3		4
Other non-current liabilities	—		—		—		—		—		—
Liabilities	13		11		24		1		3		4
Net Assets/(Liabilities)	$	(9)	$	2	$	(7)	$	—	$	3	$	3

Schedule of amount of gains and losses recognized in OCI and income statement location

Additional information relating to our derivative instruments in cash flow hedging relationships were as follows:


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Three Months Ended June 30,				Income Statement Location	Three Months Ended June 30,
	2026		2025			2026		2025




Commodity	$	(35)	$	(24)	Cost of sales	$	(8)	$	4
Foreign currency	(4)		11		Net sales/Cost of sales	1		5
Total	$	(39)	$	(13)		$	(7)	$	9


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Six Months Ended June 30,				Income Statement Location	Six Months Ended June 30,
	2026		2025			2026		2025
Commodity	$	(25)	$	(11)	Cost of sales	$	(5)	$	1
Foreign currency	(9)		15		Net sales/Cost of sales	(2)		10

Total	$	(34)	$	4		$	(7)	$	11