v3.26.3
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivatives Outstanding
The following table is a summary of the fair value of derivatives outstanding at September 30, 2026 and December 31, 2025:
Fair Value
September 30, 2026December 31, 2025
Assets(a) Accrued Liabilities Assets(a)Accrued Liabilities
Derivatives Designated as Cash Flow Hedges
Currency Contracts $1 $— $— 
Interest Rate Swaps 42 7 1 
Total Hedges $43 $— $7 $1 
Derivatives Not Designated as Cash Flow Hedges
Currency Contracts 1 5 — 
Total Derivatives $44 $— $12 $1 
(a) At September 30, 2026 and December 31, 2025, current assets of $44 million and $12 million, respectively, are recorded in prepaid and other current assets on the Condensed Consolidated Balance Sheets.
Schedule of Derivatives' Impact on the Condensed Consolidated Statement of Operations
The following table summarizes the impact of the Company's derivatives on the unaudited Condensed Consolidated Statements of Operations:
Amount of Pre-Tax Gain (Loss) Recognized in Earnings Amount of Pre-Tax Gain (Loss) Recognized in Earnings
Revenue Cost of Goods SoldOther expense, netRevenueCost of Goods SoldOther expense, net
Three Months Ended September 30, 2026Three Months Ended September 30, 2025
Derivatives Not Designated as Hedging Instruments
Currency Contracts$— $— $1 $— $— $— 
Derivatives Designated as Hedging Instruments
Currency Contracts $— $— $— $4 $(1)$— 
Total Derivatives $— $— $1 $4 $(1)$— 
Amount of Pre-Tax Gain (Loss) Recognized in Earnings Amount of Pre-Tax Gain (Loss) Recognized in Earnings
RevenueCost of Goods SoldOther expense, netRevenueCost of Goods SoldOther expense, net
Nine Months Ended September 30, 2026Nine Months Ended September 30, 2025
Derivatives Not Designated as Hedging Instruments
Currency Contracts$— $— $4 $— $— $(1)
Derivatives Designated as Hedging Instruments
Currency Contracts $— $1 $— $6 $(2)$— 
Natural Gas Hedges— 1 — — — — 
Total Derivatives $— $2 $4 $6 $(2)$(1)