v3.26.3
DERIVATIVES AND HEDGING ACTIVITIES RISK MANAGEMENT (Tables)
9 Months Ended
Sep. 26, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The notional amounts of outstanding interest rate derivatives are summarized as follows:

September 26, 2026December 31, 2025
Currency
Notional amount
(in millions)
Maturity date
Notional amount
(in millions)
Maturity date
Designated cash flow hedges:
Interest rate swaps
USD
$1,000 December 2026$1,000 December 2026
Interest rate caps
USD
1,500 December 20262,000 December 2026
Undesignated derivative instruments:
Interest rate cap
USD
500 December 2026— — 
Schedule of Cash Flow Hedges Included in AOCI
The table below presents the effect of cash flow hedge accounting on AOCI for each reporting period:

Three months ended
Nine months ended
(in millions)
September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Gain (loss) recognized in AOCI
Included in effectiveness testingInterest rate swaps$— $1 $5 $1 
Interest rate caps— 1 3 (1)
Excluded from effectiveness testingInterest rate caps— — — (3)
— 2 8 (3)
Gain (loss) reclassified from AOCI into earningsIncluded in effectiveness testingInterest rate swaps6 14 17 41 
Interest rate caps5 10 16 32 
Excluded from effectiveness testingInterest rate caps(1)(2)(3)(6)
10 22 30 67 
Total change in AOCI$(10)$(20)$(22)$(70)
Schedule of Classification and Fair Value of the Derivatives
The table below summarizes the classification and fair value of the designated derivatives for each reporting period:

(in millions)
Designated cash flow hedgesLocationSeptember 26, 2026December 31, 2025
Interest rate swapsOther current assets$7 $21 
Interest rate capsOther current assets6 15 
Total designated cash flow hedges$13 $36