v3.26.3
Fair Value Measurements and Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Debt Fair Values
The fair value of debt was    as follows:
September 30, 2026December 31, 2025
(In millions)LevelFair
Value		Carrying
Value		Fair
Value		Carrying
Value
Unsecured notes due 20262$— $— $394 $400 
Unsecured notes due 20292607 595 631 594 
Unsecured notes due 20312345 398 358 398 
Unsecured notes due 20342500 492 540 491 
Euro unsecured notes due 20302550 561 586 580 
Five-year term loan due 2027
2274 275 272 275 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The notional amount and fair value of derivative instruments were as follows:

September 30, 2026December 31, 2025Balance Sheet Location
(In millions)
Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Derivatives designated as net investment hedges:
Cross-currency swaps$765 $48 $422 $33 
Other current liabilities
Cross-currency swaps1,057 63 1,400 143 Other long-term liabilities
Derivatives designated as fair value hedges:
Cross-currency swaps$236 $8 $— $— Other long-term assets
Cross-currency swaps— — 236 1 Other long-term liabilities
Derivatives not designated as hedges:
Foreign currency option contracts$294 $6 $308 $3 Other current assets
Foreign currency option contracts43 1 — — Other long-term assets
Foreign currency option contracts301 1 316 4 Other current liabilities
Foreign currency option contracts45 1 — — Other long-term liabilities
Foreign currency forward contracts131 1 231 1 Other current liabilities
Schedule of Derivative Instruments, Gain (Loss)
The effect of hedges on AOCIL and in the Condensed Consolidated Statements of Operations was as follows:

Three Months Ended September 30, 2026Nine Months Ended September 30, 2026
(In millions)Amount of Gain (Loss) Recognized in Other Comprehensive Income on DerivativeGain (Loss) Reclassified from AOCIL into Net IncomeGain (Loss) Recognized in Net Income on Derivative (Excluded from effectiveness testing)Amount of Gain (Loss) Recognized in Other Comprehensive Income on DerivativeGain (Loss) Reclassified from AOCIL into Net IncomeGain (Loss) Recognized in Net Income on Derivative (Excluded from effectiveness testing)
Net investment hedges
Cross-currency swaps(1)
$20 $2 $— $65 $2 $2 
Cash flow hedges
Interest rate swaps(1)
— — — — 1 — 
Fair value hedges
Cross-currency swaps(1)
2 1 — 1 2 — 
(1) Amounts reclassified to Net income are reported in Interest expense, net in the Condensed Consolidated Statements of Operations.
Three Months Ended September 30, 2025Nine Months Ended September 30, 2025
(In millions)Amount of Gain (Loss) Recognized in Other Comprehensive Income on DerivativeGain (Loss) Reclassified from AOCIL into Net IncomeGain (Loss) Recognized in Net Income on Derivative (Excluded from effectiveness testing)Amount of Gain (Loss) Recognized in Other Comprehensive Income on DerivativeGain (Loss) Reclassified from AOCIL into Net IncomeGain (Loss) Recognized in Net Income on Derivative (Excluded from effectiveness testing)
Net investment hedges
Cross-currency swaps(1)
$18 $— $1 $(253)$(3)$3 
Cash flow hedges
Interest rate swaps(1)
— — — (2)— — 
(1) Amounts reclassified to Net income are reported in Interest expense, net in the Condensed Consolidated Statements of Operations.