Supplier Finance Programs

6 Months Ended

Jun. 30, 2025

Payables and Accruals [Abstract]

Supplier Finance Program

Supplier Finance Programs

The Company has Supplier Payable Programs (“SPP”) with financial institutions which act as its paying agents for payables due to certain of its suppliers. The Company has neither an economic interest in a supplier’s participation in the SPP nor a direct financial relationship with the financial institutions, and has concluded that its obligations to the suppliers, including amounts due and scheduled payment terms, are not impacted by their participation in the SPP. Accordingly, amounts associated with the SPP continue to be classified in trade payables in the Company’s Consolidated Balance Sheets and in operating activities in its Consolidated Statements of Cash Flows. The supplier invoices that have been confirmed as valid under the program require payment in full generally within 120 days of the invoice date.

Changes to the outstanding payment obligations were as follows (in millions).

	Six Months Ended June,
	2025		2024
Opening balance, January 1	$	222	$	274
Obligations confirmed	434		520
Obligations paid	(371)		(505)
Closing balance, June 30	$	285	$	289