Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Changes in Fair Value of Derivatives

Information regarding changes in the fair value of the Company's derivative and non-derivative instruments is as follows:

	Gain (Loss) Recognized in Other Comprehensive Income (Loss)			Gain (Loss) Recognized in Earnings (Loss)			Statement of Operations Classification
	Year Ended December 31,			Year Ended December 31,
	2025	2024	2023	2025	2024	2023
	(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps	10	—	(5)	3	(2)	2	Cost of sales
Interest rate swaps	—	—	—	(7)	(7)	(7)	Interest expense
Foreign currency forwards	—	—	5	—	—	5	Cost of sales
Total	10	—	—	(4)	(9)	—
Designated as Fair Value Hedges
Cross-currency swaps(1)	(5)	142	(1)	(64)	146	9	Foreign exchange gain (loss), net
Designated as Net Investment Hedges
Foreign currency denominated debt	(295)	153	(106)	—	—	—	N/A
Cross-currency swaps(2)	(368)	147	(174)	—	—	—	N/A
Total	(663)	300	(280)	—	—	—
Not Designated as Hedges
Foreign currency forwards and swaps	—	—	—	32	(26)	(19)	Foreign exchange gain (loss), net; Other income (expense), net

______________________________

(1)On March 17, 2025, in conjunction with the March 2025 Offering (Note 11), the Company entered into cross-currency swaps to effectively convert $400 million of certain senior unsecured notes due April 15, 2030 into Japanese yen-denominated borrowings at prevailing yen interest rates, maturing on April 15, 2030. The swaps qualify and have been designated as fair value hedges of the Company's foreign currency exchange rate exposure on the long-term debt of its Japanese yen-denominated subsidiary.

In August 2023, the Company entered into cross-currency swaps to effectively convert $500 million of certain senior unsecured notes due July 15, 2029 (Note 11) into Japanese yen-denominated borrowings at prevailing yen interest rates, maturing on July 15, 2029. The swaps qualify and have been designated as fair value hedges of the Company's foreign currency exchange rate exposure on the long-term debt of its Japanese yen-denominated subsidiary.

In August 2023, the Company entered into cross-currency swaps to effectively convert $500 million of certain senior unsecured notes due November 15, 2028 (Note 11) into five-year euro-denominated borrowings at prevailing euro interest rates maturing on November 15, 2028. The swaps qualify and have been designated as fair value hedges of the Company's foreign currency exchange rate exposure on the long-term debt of its euro-denominated subsidiary.

In August 2023, the Company entered into cross-currency swaps to effectively convert $500 million of certain senior unsecured notes due November 15, 2030 (Note 11) into seven-year euro-denominated borrowings at prevailing euro interest rates maturing on November 15, 2030. The swaps qualify and have been designated as fair value hedges of the Company's foreign currency exchange rate exposure on the long-term debt of its euro-denominated subsidiary.

(2)In April 2024, the Company entered into cross-currency swaps to effectively convert $1.0 billion of senior unsecured notes due November 15, 2033 (Note 11) into Chinese yuan-denominated borrowings at prevailing yuan interest rates, maturing on November 15, 2033. The swaps qualify and have been designated as net investment hedges of the Company's foreign currency exchange rate exposure on the net investment of certain of its Chinese yuan-denominated subsidiaries.

Schedule of Notional Amounts of Net Foreign Exchange Exposure by Currency

The total U.S. dollar equivalents of net foreign exchange exposure related to (short) long foreign exchange forward contracts outstanding by currency are as follows:

	2026 Maturity
	(In $ millions)
Currency
Brazilian real	(34)
British pound sterling	147
Canadian dollar	6
Chinese yuan	75
Euro	23
Hungarian forint	20
Indian rupee	(25)
Indonesian rupiah	(10)
Japanese yen	18
Korean won	190
Mexican peso	145
Singapore dollar	35
Swedish krona	(7)
Swiss franc	42
Thai baht	(12)
Other	(1)
Total	612

Offsetting Assets

Information regarding the gross amounts of the Company's derivative instruments and the amounts offset in the consolidated balance sheets is as follows:

	As of December 31,
	2025	2024
	(In $ millions)
Derivative Assets
Gross amount recognized	291	250
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	291	250
Gross amount not offset in the consolidated balance sheets	28	38
Net amount	263	212
Derivative Liabilities
Gross amount recognized	706	273
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	706	273
Gross amount not offset in the consolidated balance sheets	28	38
Net amount	678	235

Offsetting Liabilities

Information regarding the gross amounts of the Company's derivative instruments and the amounts offset in the consolidated balance sheets is as follows:

	As of December 31,
	2025	2024
	(In $ millions)
Derivative Assets
Gross amount recognized	291	250
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	291	250
Gross amount not offset in the consolidated balance sheets	28	38
Net amount	263	212
Derivative Liabilities
Gross amount recognized	706	273
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	706	273
Gross amount not offset in the consolidated balance sheets	28	38
Net amount	678	235