v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Cross Currency Swaps
The following table summarizes the activity of our cross-currency swaps:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2026202520262025
Other expense, net
Pre-tax transaction gain (loss) on remeasurement of EUR-denominated debt$28 $25 $287 $(654)
Amount recognized in Other expense, net reclassified from Accumulated other comprehensive loss
(28)(25)(287)654 
Accumulated other comprehensive loss
Amount recognized in Accumulated other comprehensive loss reclassified to Other expense, net
$28 $25 $287 $(654)
Gain (loss) associated with the change in fair value of cross-currency swaps recognized in Accumulated other comprehensive loss
8 (52)(109)439 
Schedule of Carrying Values and Fair Values of Short-Term and Long-term Debt
The carrying amounts and fair values of our short-term and long-term debt, excluding accrued interest, included on our Condensed Consolidated Balance Sheets were as follows:
(in millions)Level within the Fair Value HierarchySeptember 30, 2026December 31, 2025
Carrying AmountFair ValueCarrying AmountFair Value
Liabilities:
Senior Notes to third parties1$69,738 $60,959 $74,575 $70,517 
Senior Notes to third parties (EUR-denominated)28,183 7,669 5,551 5,460 
Senior Notes to affiliates2— — 1,498 1,500 
Senior Secured Notes to third parties1559 551 844 835 
ABS Notes to third parties22,493 2,487 1,995 2,017 
Borrowings related to ECA Facilities and MRFA22,693 2,746 1,819 1,876