Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

	March 31, 2026		December 31, 2025
JPY Term Loan Facility, due 2026(1)	$	186	$	191
6.750% Bonds, due 2028	300		300
3.750% Notes, due 2028	400		—
3.000% Notes, due 2029	700		700
3.900% Notes, due 2029	300		—
4.850% Notes, due 2031(2)	500		500
4.550% Notes, due 2032	500		500
4.750% Notes, due 2036	500		—
5.950% Notes, due 2037	625		625
4.750% Iowa Finance Authority Loan, due 2042	250		250
Short-term borrowings	450		—
Other, net(3)	(25)		(16)
	4,686		3,050
Less: amounts due within one year	636		191
Total long-term debt	$	4,050	$	2,859

(1)The Company entered into an interest rate swap to exchange the floating interest rate of the JPY Term Loan Facility to a fixed interest rate of 1.794% as of both March 31, 2026 and December 31, 2025, based on the Company’s long-term debt ratings. The amounts outstanding under the JPY Term Loan Facility are due in November 2026.

(2)The Company entered into a cross-currency swap to synthetically convert the 4.850% Notes due October 2031 (the “2031 Notes”) into a Euro liability of approximately €458 million with a fixed annual interest rate of 3.720%.

(3)Includes unamortized debt discounts and unamortized debt issuance costs related to outstanding notes and bonds listed in the table above and various financing arrangements related to subsidiaries.