v3.26.1
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location The fair value of the derivative instruments entered into by the Company were as follows:
Balance
As of
As of
(in millions)
Sheet Location
June 30, 2026
December 31, 2025
Assets:
Commodity swaps
Prepaid expenses and
other current assets
$9
$—
Commodity swaps
Other noncurrent
assets
2
—
Liabilities:
Commodity swaps
Other current liabilities
1
1
Foreign currency contracts
Other noncurrent
liabilities
21
—
The pretax impact on earnings that changes in the fair values of derivative instruments entered into the
Company were as follows:
Location of Gain (Loss)
For the three months ended
(in millions)
Recognized in Income
June 30, 2026
June 30, 2025
Commodity swaps — Recognized in OCI
OCI (pretax)
$(15)
$3
Commodity swaps — Reclassified from OCI
Cost of revenues
(8)
2
Foreign currency contracts
Interest expense, net
(21)
—
Location of Gain (Loss)
For the six months ended
(in millions)
Recognized in Income
June 30, 2026
June 30, 2025
Commodity swaps — Recognized in OCI
OCI (pretax)
$—
$13
Commodity swaps — Reclassified from OCI
Cost of revenues
(10)
4
Foreign currency contracts
Interest expense, net
(21)
—