v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value Of Financial Instruments
A summary of the carrying value and fair value of other financial instruments were as follows:
September 30, 2026December 31, 2025
(In millions)Valuation Hierarchy ClassificationCarrying
Value
Fair
Value
Carrying
Value
Fair
Value
Senior notesLevel 1$6,811 $6,751 $6,801 $7,037 
ABL Facility - outstanding balanceLevel 2834 834 452 452 
Total$7,645 $7,585 $7,253 $7,489 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in fair value of the employee benefit commitment:
(In millions)20262025
Beginning balance as of January 1$(169)$(188)
Total expense included in earnings(8)(8)
Payments13 19 
Foreign currency translation6 (6)
Ending balance as of September 30$(158)$(183)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in fair value of the MinnTac option:
(In millions)20262025
Beginning balance as of January 1$54 $95 
Total expense included in earnings(37)(34)
Foreign currency translation(1)4 
Ending balance as of September 30$16 $65