Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income (loss) were as follows:


	Currency Translation Adjustments		Net Unrealized Gains (Losses) on Cash Flow Hedges (a)		Minimum Pension Liability Adjustment (b)		Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2023	$	(30)	$	45	$	(116)	$	(101)
Other comprehensive income (loss) before reclassifications	27		5		(18)		14

Gross (gains) losses reclassified			(18)		5		(13)
Tax on (gains) losses reclassified			5		(1)		4
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(13)		4		(9)
Net current-period other comprehensive income (loss)	27		(8)		(14)		5
Balance as of December 31, 2023	(3)		37		(130)		(96)
Other comprehensive income (loss) before reclassifications	(122)		15		10		(97)

Gross (gains) losses reclassified			(28)		5		(23)
Tax on (gains) losses reclassified			7		(1)		6
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(21)		4		(17)
Net current-period other comprehensive income (loss)	(122)		(6)		14		(114)
Balance as of December 31, 2024	(125)		31		(116)		(210)
Other comprehensive income (loss) before reclassifications	77		(2)		9		84

Gross (gains) losses reclassified			(20)		4		(16)
Tax on (gains) losses reclassified			5		(1)		4
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(15)		3		(12)
Net current-period other comprehensive income (loss)	77		(17)		12		72
Balance as of December 31, 2025	$	(48)	$	14	$	(104)	$	(138)

__________

All components of accumulated other comprehensive income (loss) are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries (see Note 9 – Income Taxes) and include a $24 million gain, net of tax, as of December 31, 2025 related to our hedge of our investment in euro-denominated foreign operations (See Note 20 – Financial Instruments).

(a)Amounts reclassified to interest expense.

(b)Amounts reclassified to selling, general and administrative expenses.

Schedule of Redeemable Noncontrolling Interest

The following table presents changes in our redeemable non-controlling interests:


	2025
Balance as of January 1	$	—
Net income (loss) (a)	(109)
Contributions	183
Balance as of December 31	$	74

________

(a) Represents the allocation of net income (loss) to the redeemable non-controlling interest holders under the HLBV method. See Note 2 – Summary of Significant Accounting Policies - Variable Interest Entities (“VIE”) and Non-Controlling Interests.