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FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments A summary of the notional amounts of these interest rate swap agreements as of March 31, 2025 and December 31, 2024 was as follows:
Notional Amount
Debt InstrumentMarch 31, 2025December 31, 2024
5.00% Senior Notes due December 2034
$850 $700 
2.80% Senior Notes due June 2031
400 — 
$1,250 $700 
Schedule of Debt Instrument Fair Value Basis Adjustment Attributable to Hedged Debt As of March 31, 2025 and December 31, 2024, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges included in the carrying amount of long-term debt:
Carrying Amount of Hedged Long-Term DebtHedge Accounting Basis Adjustment (a)Carrying Amount of Hedged Long-Term DebtHedge Accounting Basis Adjustment (a)
Balance Sheet ClassificationMarch 31, 2025March 31, 2025December 31, 2024December 31, 2024
Long-term debt$1,231 $(3)$658 $(29)

(a) The balance includes $3 million and $5 million of remaining unamortized hedging adjustments on discontinued relationships as of March 31, 2025 and December 31, 2024, respectively.
Schedule of Fair Value Hedge Accounting on the Statement of Operations The following table presents the effect of fair value hedge accounting on the consolidated statement of operations for the three months ended March 31, 2025:
Three months ended
March 31, 2025
Interest Expense, Net
Total for line item in which the effects of fair value hedges are recorded$67 
Gain (loss) on fair value hedging relationships:
Hedged items (Long-term debt)$(28)
Derivatives designated as hedging instruments$28 
Schedule of Derivative Instruments at Fair Value A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows:
March 31, 2025December 31, 2024
Balance Sheet
Classification
Fair ValueBalance Sheet
Classification
Fair Value
Derivatives Designated as Hedging Instruments   
Fixed-to-variable interest rate swap agreementsOther liabilities$Other liabilities$34