Financial Instruments and Fair Value Measures (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis

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 December 31, 2024 and 2023:

					Fair Value
	Notional Amounts				Assets					Liabilities
	December 31, 2024		December 31, 2023		December 31, 2024		December 31, 2023			December 31, 2024		December 31, 2023
	(Dollars in millions)
Designated instruments:
Forward currency exchange contracts	$	331	$	456	$	4	$	11	(a)	$	6	$	6	(c)
Cross-currency swaps	1,515		1,015		82		37		(b)	—		17		(d)
Interest rate swaps	—		200		—		—		(b)	—		—
Subtotal	1,846		1,671		86		48			6		23
Undesignated instruments:
Interest rate swaps	470		917		9		46		(b)	3		3		(d)
Forward currency exchange contracts	597		715		9		1		(a)	2		6		(c)
Subtotal	1,067		1,632		18		47			5		9
Total designated and undesignated instruments	$	2,913	$	3,303	$	104	$	95		$	11	$	32

(a)Recorded within Other current assets in the Company’s Consolidated Balance Sheets

(b)Recorded within Other assets in the Company’s Consolidated Balance Sheets

(c)Recorded within Accrued liabilities in the Company’s Consolidated Balance Sheets

(d)Recorded within Other liabilities in the Company's Consolidated Balance Sheets

Summary of Financial Assets and Liabilities Not Carried at Fair Value

The following table sets forth the Company’s financial assets and liabilities that were not carried at fair value:

	December 31, 2024
	Carrying Value		Fair Value
	(Dollars in millions)
Term Loan Facilities	$	692	$	693
2032 Senior Notes	800		810