Financial Instruments and Risk Management (Tables)

9 Months Ended

Sep. 30, 2026

Financial Instruments and Risk Management

Schedule of additional information related to the commercial risk management instruments


($ in millions)		September 30, 2026
Commercial risk area		Commodity			Currency			Interest Rate			Net Investment

Notional amount of contracts		$	2,104		$	2,934		$	600		€	1,050
Net gain (loss) included in AOCI, after-tax			30			(1)			3		$	(58)
Net gain (loss) included in AOCI, after-tax, expected to be recognized in net earnings within the next 12 months			30			(1)			3			—

Longest duration of forecasted hedge transactions in years			2			2			1			3

Schedule of fair value of derivative instruments


			September 30, 2026
($ in millions)	Balance Sheet Location		Derivatives Designated as Hedging Instruments			Derivatives not Designated as Hedging Instruments			Total

Assets:
Commodity contracts			$	55		$	—		$	55
Currency contracts				33			27			60
Interest rate and other contracts				5			—			5
Total current derivative contracts	Other current assets		$	93		$	27		$	120

Commodity contracts			$	1		$	—		$	1
Total noncurrent derivative contracts	Other noncurrent assets		$	1		$	—		$	1

Liabilities:
Commodity contracts			$	19		$	—		$	19
Currency contracts				—			9			9
Interest rate and other contracts				—			3			3
Net investment hedge				19			—			19
Total current derivative contracts	Other current liabilities		$	38		$	12		$	50

Commodity contracts			$	1		$	—		$	1
Net investment hedge				47			—			47
Total noncurrent derivative contracts	Other noncurrent liabilities		$	48		$	—		$	48


			December 31, 2025
($ in millions)	Balance Sheet Location		Derivatives Designated as Hedging Instruments			Derivatives not Designated as Hedging Instruments			Total

Assets:
Commodity contracts			$	72		$	—		$	72
Currency contracts				—			14			14
Interest rate and other contracts				1			2			3
Total current derivative contracts	Other current assets		$	73		$	16		$	89

Commodity contracts			$	5		$	—		$	5
Total noncurrent derivative contracts	Other noncurrent assets		$	5		$	—		$	5

Liabilities:
Commodity contracts			$	41		$	1		$	42
Currency contracts				35			17			52
Total current derivative contracts	Other current liabilities		$	76		$	18		$	94

Commodity contracts			$	1		$	—		$	1
Net investment hedge				98			—			98
Total noncurrent derivative contracts	Other noncurrent liabilities		$	99		$	—		$	99

Schedule of impact on earnings (loss) from derivative instruments


				Three Months Ended September 30,
				2026						2025
($ in millions)		Location of Gain (Loss) Recognized in Earnings on Derivatives		Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments			Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments

Commodity contracts - manage exposure to customer pricing		Net sales		$	(4)		$	—		$	6		$	—
Commodity contracts - manage exposure to supplier pricing		Cost of sales			36			14			(14)			(5)
Currency contracts - manage currency exposure		Cost of sales			1			—			—			—
Interest rate contracts - manage exposure for outstanding debt		Interest expense			—			—			1			—
Currency contracts - manage currency exposure		Selling, general and administrative			10			12			8			3
Equity contracts		Selling, general and administrative			—			(5)			—			(7)
Total				$	43		$	21		$	1		$	(9)


				Nine Months Ended September 30,
				2026						2025
($ in millions)		Location of Gain (Loss) Recognized in Earnings on Derivatives		Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments			Cash Flow Hedge - Reclassified Amount from Accumulated Other Comprehensive Earnings (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments

Commodity contracts - manage exposure to customer pricing		Net sales		$	(114)		$	—		$	18		$	—
Commodity contracts - manage exposure to supplier pricing		Cost of sales			112			(19)			(12)			1
Currency contracts - manage currency exposure		Cost of sales			3			—			—			—
Interest rate contracts - manage exposure for outstanding debt		Interest expense			1			—			4			—
Currency contracts - manage currency exposure		Selling, general and administrative			45			26			(93)			(167)
Equity contracts		Selling, general and administrative			—			5			—			(8)
Total				$	47		$	12		$	(83)		$	(174)

Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives


		Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions)		2026			2025			2026			2025

Amounts reclassified into earnings:
Commodity contracts		$	(32)		$	8		$	2		$	(6)
Interest rate contracts			—			(1)			(1)			(4)
Currency exchange contracts			(11)			(8)			(48)			93
Change in fair value of hedges:
Commodity contracts			(46)			5			2			(14)
Interest rate contracts			2			1			6			(5)
Currency exchange contracts			9			14			42			(83)
Net investment hedge			8			7			24			(99)
Currency and tax impacts			20			(3)			(2)			5
		$	(50)		$	23		$	25		$	(113)