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DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Gains and Losses on Derivative Instruments
The following tables summarize the gains and losses on our hedging instruments and the classification of those gains and losses within our consolidated financial statements for the years ended December 31, 2025, 2024 and 2023.
(in millions)Gain (loss)
recognized in OCI		Location of gain
(loss) in
income statement		Gain (loss) reclassified from
AOCI into income
202520242023202520242023
Cash flow hedges
Interest rate contracts$— $— $— Interest expense, net$(6)$(6)$(6)
Foreign exchange contracts(1)17 15 Cost of sales6 8 15 
Fair value hedges
Foreign exchange contracts— (3)(4)Other (income) expense, net— (5)(3)
Net investment hedges(127)87 (58)Other (income) expense, net— — — 
Total$(128)$101 $(47)$— $(3)$6 
Location of gain (loss) in
income statement		Gain (loss) recognized
in income
(in millions)202520242023
Fair value hedges
Foreign exchange contractsOther (income) expense, net$— $(24)$38 
Undesignated derivative instruments
Foreign exchange contractsOther (income) expense, net30 (13)2 
Total$30 $(37)$40 
Net of Tax Activity in Accumulated Other Comprehensive Income Related to Cash Flow Hedges
The following table summarizes net-of-tax activity in AOCI, a component of stockholders’ equity, related to our cash flow hedges.
as of and for the year ended December 31 (in millions)202520242023
Accumulated other comprehensive income (loss) balance at beginning of year$(108)$(120)$(119)
(Loss) gain in fair value of derivatives during the year(2)10 5 
Amount reclassified to earnings during the year— 2 (6)
Accumulated other comprehensive income (loss) balance at end of year$(110)$(108)$(120)
Classification and Fair Value Amounts of Derivative Instruments
The following table summarizes the classification and fair values of derivative instruments reported in the consolidated balance sheet as of December 31, 2025.
Derivatives in liability positions
(in millions)Balance sheet locationFair value
Derivative instruments designated as hedges
Net investment hedgesLong-term debt and finance lease obligations, less current portion$834 
Undesignated derivative instruments
Foreign exchange contracts
Accrued expenses and other current liabilities1 
Total derivative instruments$835 
The following table summarizes the classification and fair values of derivative instruments reported in the consolidated balance sheet as of December 31, 2024.
Derivatives in asset positionsDerivatives in liability positions
(in millions)Balance sheet locationFair valueBalance sheet locationFair value
Derivative instruments designated as hedges
Foreign exchange contracts
Prepaid expenses and other current assets$6 Accrued expenses and other current liabilities$— 
Net investment hedgesCurrent maturities of long-term debt and finance lease obligations618 
Net investment hedgesLong-term debt and finance lease obligations, less current portion727 
Undesignated derivative instruments
Foreign exchange contracts
Prepaid expenses and other current assets1 Accrued expenses and other current liabilities2 
Total derivative instruments$7 $1,347 
Derivative Positions Presented on Net Basis
The following table provides information on our derivative positions as if they were presented on a net basis, allowing for the right of offset by counterparty.
December 31, 2025December 31, 2024
(in millions)AssetLiabilityAssetLiability
Gross amounts recognized in the consolidated balance sheets$— $1 $7 $2 
Gross amount subject to offset in master netting arrangements not offset in the consolidated balance sheets— — (1)(1)
Total$— $1 $6 $1 
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table presents the amounts recorded on the consolidated balance sheets related to fair value hedges:
Carrying amount of hedged itemsCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items (a)
(in millions)Balance as of December 31, 2025Balance as of December 31, 2024Balance as of December 31, 2025Balance as of December 31, 2024
Long-term debt$99 $99 $2 $2 
(a) These fair value hedges were terminated in 2018 and earlier periods.