XML 69 R56.htm IDEA: XBRL DOCUMENT v3.26.3
Debt - Narrative (Details)
€ in Millions, ¥ in Millions, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 16, 2026
CNY (¥)
Aug. 05, 2026
USD ($)
Jun. 25, 2026
USD ($)
Apr. 30, 2025
CNY (¥)
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Sep. 30, 2026
CNY (¥)
Aug. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2025
EUR (€)
Mar. 31, 2025
USD ($)
Mar. 31, 2025
EUR (€)
Nov. 30, 2024
USD ($)
Mar. 31, 2022
USD ($)
Debt Instrument [Line Items]                                  
Refinancing expense         $ 0 $ 0 $ 0 $ 32                  
Repayments of long-term debt             $ 1,089 3,060                  
Debt Instrument, Redemption Price, Percentage             100.00%                    
March 2022 U.S. Term Loan Credit Agreement                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt                                 $ 1,000
November 2024 US Term Loan                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt                               $ 1,000  
Revolving Credit Facility | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Line of credit facility, maximum borrowing capacity                     $ 1,750            
Revolving Credit Facility | Revolving Credit Facility | Minimum | Variable Interbank Interest Rate                                  
Debt Instrument [Line Items]                                  
Debt instrument, basis spread on variable rate             1.00%                    
Revolving Credit Facility | Revolving Credit Facility | Minimum | Base Rate                                  
Debt Instrument [Line Items]                                  
Debt instrument, basis spread on variable rate             0.00%                    
Revolving Credit Facility | Revolving Credit Facility | Maximum | Variable Interbank Interest Rate                                  
Debt Instrument [Line Items]                                  
Debt instrument, basis spread on variable rate             2.00%                    
Revolving Credit Facility | Revolving Credit Facility | Maximum | Base Rate                                  
Debt Instrument [Line Items]                                  
Debt instrument, basis spread on variable rate             1.00%                    
CNCC Revolving Credit Agreement | China Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Line of credit facility, maximum borrowing capacity | ¥       ¥ 100                          
Debt instrument, term       12 months                          
CNCC CNY950M Term Loan Agreement | China Credit Facilities                                  
Debt Instrument [Line Items]                                  
Line of credit facility, maximum borrowing capacity | ¥ [1]                   ¥ 950              
Debt Instrument, Interest Rate, Stated Percentage         2.41%   2.41%     2.41%              
5.000% Senior Notes due 2031                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt         $ 852   $ 852   $ 881                
Debt instrument, face amount | €                             € 750    
Debt Instrument, Interest Rate, Stated Percentage         5.00%   5.00%     5.00%              
March 2025 Offering of USD Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                           $ 1,800      
4.777% Senior Notes due 2026                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt [2]         $ 0   $ 0   526                
Debt Instrument, Repurchased Face Amount | €                         € 552        
Interest Expense, Debt     $ 25                            
Repayments of long-term debt     $ 508                            
Debt Instrument, Redemption Price, Percentage     100.00%                            
Debt Instrument, Interest Rate, Stated Percentage     4.777%   5.277%   5.277%     5.277%              
Senior unsecured notes due 2027, interest rate of 7.165%(1)                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt [2]         $ 554   $ 554   554                
Debt Instrument, Repurchased Face Amount                       $ 500          
Debt Instrument, Interest Rate, Stated Percentage         7.165%   7.165%     7.165%              
March 2025 Offering of Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Debt Issuance Costs, Gross                       $ 34          
March 2025 Tender Offers                                  
Debt Instrument [Line Items]                                  
Refinancing expense               $ 32                  
December 2025 Offering of Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                 1,400                
December 2025 Tender Offers                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Repurchased Face Amount                 1,200                
Secured Debt | Amended restated receivable purchasing facility                                  
Debt Instrument [Line Items]                                  
Percentage of fair value of sales receivables             100.00%                    
Transfer of financial assets accounted for as sales, amount derecognized         $ 1,142   $ 1,142   1,471                
Proceeds collected on accounts receivable sold under factoring facilities             1,100   1,500                
Trade Receivables Pledged As Collateral         104   $ 104                    
Secured Debt | European Receivables Purchase and Financing Facility                                  
Debt Instrument [Line Items]                                  
Percentage of fair value of sales receivables             100.00%                    
Transfer of financial assets accounted for as sales, amount derecognized         652   $ 652   0                
Proceeds collected on accounts receivable sold under factoring facilities             371   0                
Trade Receivables Pledged As Collateral         $ 267   $ 267                    
Japan Factoring Agreements                                  
Debt Instrument [Line Items]                                  
Transfer of financial assets accounted for as sales, non-recourse basis, account receivable percentage         100.00%   100.00%     100.00%              
Singapore Factoring Agreements                                  
Debt Instrument [Line Items]                                  
Transfer of financial assets accounted for as sales, non-recourse basis, account receivable percentage         90.00%   90.00%     90.00%              
China Factoring Agreements                                  
Debt Instrument [Line Items]                                  
Transfer of financial assets accounted for as sales, non-recourse basis, account receivable percentage         100.00%   100.00%     100.00%              
China, Europe, Japan and Singapore Factoring Agreements                                  
Debt Instrument [Line Items]                                  
Transfer of financial assets accounted for as sales, amount derecognized         $ 529   $ 529   717                
Proceeds collected on accounts receivable sold under factoring facilities             589   724                
Master Discounting Agreement                                  
Debt Instrument [Line Items]                                  
Transfer of financial assets accounted for as sales, amount derecognized         65   65   82                
Senior unsecured notes due 2026, interest rate of 1.400%                                  
Debt Instrument [Line Items]                                  
Senior unsecured debt         $ 0   $ 0   $ 400                
Interest Expense, Debt   $ 3                              
Repayments of long-term debt   $ 400                              
Debt Instrument, Interest Rate, Stated Percentage   1.40%     1.40%   1.40%     1.40%              
CNCC Sept 2026 CNY1B Working Capital Loan Agreement | China Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Line of credit facility, maximum borrowing capacity | ¥ ¥ 1,000                                
Debt instrument, term 3 years                                
[1] Senior unsecured working capital loan bearing interest at certain floating interest rates.
[2] In February 2025, Moody's Ratings downgraded the Company's credit rating, which had the effect of increasing interest rates by 25 basis points on certain senior unsecured notes, effective on various dates beginning May 15, 2025 through January 19, 2026.
In November 2025, S&P Global Ratings and Moody's Ratings downgraded the Company's credit rating, which together had the effect of increasing interest rates for certain senior unsecured notes by an additional 50 basis points, effective on various dates beginning January 15, 2026 through May 15, 2026.