Financing Arrangements and Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Financing Arrangements And Derivative Financial Instruments [Abstract]

Schedule of Long Term Debt and Finance Leases Due Within One Year

The following table presents amounts due within one year:

(In millions)	March 31, 2026			December 31, 2025
Chinese credit facilities	$	24		$	42
Other foreign and domestic debt	459			464
Notes Payable and Overdrafts	$	483		$	506
Weighted average interest rate	7.49		%	7.62		%
4.875% Notes due 2027	$	700		$	—
7.625% Notes due 2027	120			—
Chinese credit facilities	93			48
Mexican credit facility	200			200
Other foreign and domestic debt (including finance leases)	113			116
Long Term Debt and Finance Leases due Within One Year	$	1,226		$	364
Weighted average interest rate	5.08		%	5.07		%
Total obligations due within one year	$	1,709		$	870

Schedule of Debt

The following table presents long term debt and finance leases, net of unamortized discounts, and interest rates:

	March 31, 2026				December 31, 2025
(In millions)	Amount		Interest Rate		Amount		Interest Rate
Notes:
4.875% due 2027	$	700			$	700
7.625% due 2027	120				121
7% due 2028	150				150
2.75% Euro Notes due 2028	460				470
5% due 2029	850				850
6.625% due 2030	500				500
5.25% due April 2031	550				550
5.25% due July 2031	600				600
5.625% due 2033	450				450
Credit Facilities:
First lien revolving credit facility due 2030	530		4.90	%	—		—
European revolving credit facility due 2028	403		3.50	%	—		—
Pan-European accounts receivable facility	173		3.98	%	292		3.86	%
Mexican credit facility	200		5.79	%	200		5.99	%
Chinese credit facilities	160		1.69	%	150		1.69	%
Other foreign and domestic debt(1)	423		8.41	%	424		8.32	%
	6,269				5,457
Unamortized deferred financing fees	(24)				(26)
	6,245				5,431
Finance lease obligations(2)	257				261
	6,502				5,692
Less portion due within one year	(1,226)				(364)
	$	5,276			$	5,328
(1)Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions. (2)Includes no non-cash financing additions during the three months ended March 31, 2026 and $2 million of non-cash financing additions during the twelve months ended December 31, 2025.

The following table presents the total amounts available and utilized under the Chinese financing arrangements:

(In millions)	March 31, 2026		December 31, 2025
Total available	$	830	$	854
Amounts utilized:
Notes Payable and Overdrafts	$	24	$	42
Long Term Debt due Within One Year	93		48
Long Term Debt	67		102
Letters of credit, bank acceptances and other utilization	105		131
Total utilized	$	289	$	323
Maturities	4/26-11/27		1/26-7/27

Schedule of Fair Values for Foreign Currency Contracts not Designated as Hedging Instruments

The following table presents the fair values for foreign currency hedge contracts that do not meet the criteria to be accounted for as cash flow hedging instruments:

(In millions)	March 31, 2026		December 31, 2025
Fair Values — Current asset (liability):
Accounts receivable	$	27	$	6
Other current liabilities	(10)		(30)