v3.26.3
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Foreign Currency Forward Contracts

Forward currency contracts consist of (in millions):

 

 

 

 

Currency Denomination

Currency

 

 

 

September 30, 2026

 

December 31, 2025

South Korean Won

 

KRW

 

37,255

 

49,790

Norwegian Krone

 

NOK

 

2,054

 

2,756

U.S. Dollar

 

USD

 

1,079

 

827

Canadian Dollar

 

CAD

 

569

 

—

Euro

 

EUR

 

274

 

190

Japanese Yen

 

JPY

 

31

 

569

Singapore Dollar

 

SGD

 

—

 

18

British Pound Sterling

 

GBP

 

—

 

3

Derivative Instruments and their Balance Sheet Classifications

The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions):

 

 

Asset Derivatives

 

 

Liability Derivatives

 

 

 

Balance Sheet

 

September 30,

 

 

December 31,

 

 

Balance Sheet

 

September 30,

 

 

December 31,

 

 

Location

 

2026

 

 

2025

 

 

Location

 

2026

 

 

2025

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Prepaid and other current assets

 

$

7

 

 

$

3

 

 

Accrued liabilities

 

$

5

 

 

$

1

 

Foreign exchange contracts

 

Other assets

 

 

—

 

 

 

—

 

 

Other liabilities

 

 

—

 

 

 

—

 

Designated total

 

 

 

$

7

 

 

$

3

 

 

 

 

$

5

 

 

$

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Prepaid and other current assets

 

$

3

 

 

$

2

 

 

Accrued liabilities

 

$

20

 

 

$

3

 

Foreign exchange contracts

 

Other assets

 

 

—

 

 

 

—

 

 

Other liabilities

 

 

—

 

 

 

—

 

Non-designated total

 

 

 

$

3

 

 

$

2

 

 

 

 

$

20

 

 

$

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

$

10

 

 

$

5

 

 

 

 

$

25

 

 

$

4