Derivatives and Hedging Activity (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional and Fair Values of Derivative Instruments

The notional and fair values of derivatives designated as hedging instruments are as follows at December 31, 2025 and 2024 (in millions):

			Derivative Assets			Derivative Liabilities
Instrument	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At December 31, 2025
Interest rate contracts	$	1,500	Other current assets	$	7	Accrued compensation and	$	8
			Other noncurrent assets	—		other current liabilities
						Other noncurrent liabilities	—
Foreign exchange contracts (1)	399		Other current assets	8		Accrued compensation and	1
						other current liabilities
			Other noncurrent assets	8		Other noncurrent liabilities	3
Total	$	1,899		$	23		$	12
At December 31, 2024
Interest rate contracts	$	—	Other current assets	$	—	Accrued compensation and	$	—
			Other noncurrent assets	—		other current liabilities
						Other noncurrent liabilities	—
Foreign exchange contracts (1)	24		Other current assets	6		Accrued compensation and	2
						other current liabilities
			Other noncurrent assets	3		Other noncurrent liabilities	3
Total	$	24		$	9		$	5

(1)Included within foreign exchange contracts at December 31, 2025 were $790 million of call options offset with $790 million of put options, and no buy forwards, offset with $399 million of sell forwards. Included within foreign exchange contracts at December 31, 2024 were $595 million of call options offset with $595 million of put options, and $1 million of buy forwards offset with $26 million of sell forwards.

Summary of Amounts of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Loss

The effect of cash flow hedge accounting on accumulated other comprehensive loss were as follows (in millions):

Instrument	Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (1)		Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings		Amount of Gain (Loss) Recognized in Earnings Related to Amount Excluded from Effectiveness Testing		Statement of Earnings Classification
Year ended December 31, 2025
Interest rate contracts	$	(16)	$	(1)	$	—	Interest expense
Foreign exchange contracts	(5)		(13)		—		Commission revenue
			(1)		1		Compensation expense
			(1)		—		Operating expense
Total	$	(21)	$	(16)	$	1
Year ended December 31, 2024
Interest rate contracts	$	(6)	$	(1)	$	—	Interest expense
Foreign exchange contracts	(11)		(2)		—		Commission revenue
			(2)		1		Compensation expense
			(2)		—		Operating expense
Total	$	(17)	$	(7)	$	1

(1)During 2025, the amount excluded from the assessment of hedge effectiveness for our foreign exchange contracts recognized in accumulated other comprehensive loss was a gain of $2 million.