XML 44 R33.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative and Other Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables set forth financial information about the impact on other comprehensive income ("OCI"), accumulated other comprehensive income ("AOCI") and earnings from changes in the fair value of derivative instruments.
Amount of gain/(loss) recognized in OCIAmount of gain/(loss) recognized in OCI
Three Months Ended September 30,Nine Months Ended
September 30,
Derivatives in cash flow hedges2025202420252024
Foreign exchange$— $(3)$1 $(2)
Commodities8 (6)7 (4)
$8 $(9)$8 $(6)
Amount of gain/(loss) reclassified from AOCI into incomeAmount of gain/(loss) reclassified from AOCI into income
Three Months Ended September 30,Nine Months Ended
September 30,
Derivatives in cash flow hedges2025202420252024Affected line items in the Statement of Operations
Commodities$(5)$(8)$(1)$(26)Net sales
Commodities6 2 6 11 Cost of products sold, excluding depreciation and amortization
Foreign exchange2 — 2 — Net sales
Foreign exchange(1)— (2)— Cost of products sold, excluding depreciation and amortization
2 (6)5 (15)Income before taxes and equity in net earnings of affiliates
— 2 (1)5 Provision for income taxes
$2 $(4)$4 $(10)Net income
Schedule of Impact on Earnings from Derivatives Not Designated as Hedging Instruments
The following table sets forth the impact on earnings from derivatives not designated as hedges.
Pre-tax amounts of gain/(loss) recognized in incomePre-tax amounts of gain/(loss) recognized in income
Three Months Ended September 30,Nine Months Ended
September 30,
Derivatives not designated as hedges2025202420252024Affected line item in the Statement of Operations
Foreign exchange$1 $— $— $— Net sales
Foreign exchange— — 1 — Cost of products sold, excluding depreciation and amortization
Foreign exchange(10)1 (52)5 Foreign exchange
$(9)$1 $(51)$5 
Schedule of Derivative Instruments Included in Earnings
The following tables set forth financial information about the impact on accumulated other comprehensive income from changes in the fair value of derivative instruments designated as net investment hedges.
Amount of gain / (loss) recognized in AOCIAmount of gain / (loss) recognized in AOCI
Three Months Ended
September 30,		Nine Months Ended
September 30,
Derivatives designated as net investment hedges2025202420252024
Foreign exchange$8 $(21)$(109)$(9)
Schedule of Fair Value of Outstanding Derivative Instruments in the Consolidated Balance Sheets
The following table sets forth the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2025 and December 31, 2024, respectively. The fair values of these financial instruments were reported under Level 2 of the fair value hierarchy.

Balance Sheet classificationSeptember 30, 2025December 31, 2024Balance Sheet classificationSeptember 30, 2025December 31, 2024
Derivatives designated as hedging instruments
Foreign exchange contracts cash flowPrepaid expenses and other current assets$7 $2 Accrued liabilities$6 $4 
Commodities contracts cash flowPrepaid expenses and other current assets14 10 Accrued liabilities4 3 
Other non-current assets2 — Other non-current liabilities— — 
Net investment hedgePrepaid expenses and other current assets— — Accrued liabilities24 — 
Other non-current assets— 86 Other non-current liabilities35 — 
$23 $98 $69 $7 
Derivatives not designated as hedging instruments
Foreign exchange contractsPrepaid expenses and other current assets$2 $4 Accrued liabilities$26 $7 
$2 $4 $26 $7 
Total derivatives$25 $102 $95 $14 
Schedule of Offsetting Derivative Assets and Liabilities In the table below, the aggregate fair values of the Company's derivative assets and liabilities are presented on both a gross and net basis, where appropriate.
Gross amounts recognized in the Balance SheetGross amounts not offset in the Balance SheetNet amount
Balance at September 30, 2025
Derivative assets$25$9$16
Derivative liabilities95986
Balance at December 31, 2024
Derivative assets$102$3$99
Derivative liabilities14311
Schedule of Notional Values of Outstanding Derivative Instruments in the Consolidated Balance Sheet
The aggregate U.S. dollar-equivalent notional values of outstanding derivative instruments in the Consolidated Balance Sheets at September 30, 2025 and December 31, 2024 were:

September 30, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Foreign exchange$426 $380 
Commodities353 73 
Derivatives designated as net investment hedges:
Foreign exchange1,475 875 
Derivatives not designated as hedges:
Foreign exchange537 305