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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] |
Distribution of Financial Instruments, Measured at Fair Value on a Recurring Basis | The distribution of the Company’s financial instruments measured at fair value on a recurring basis within the Valuation Hierarchy was as follows:
|  | March 31, 2026 |  | December 31, 2025
|  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
|  | (in millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities 1 |  | $ | 21 |  |  | $ | 292 |  |  | $ | — |  |  | $ | 313 |  |  | $ | 20 |  |  | $ | 299 |  |  | $ | — |  |  | $ | 319 |
Derivative instruments 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | — |  |  | 54 |  |  | — |  |  | 54 |  |  | — |  |  | 35 |  |  | — |  |  | 35 |
Marketable securities 3: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 158 |  |  | — |  |  | — |  |  | 158 |  |  | 203 |  |  | — |  |  | — |  |  | 203 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | — |  |  | $ | 97 |  |  | $ | — |  |  | $ | 97 |  |  | $ | — |  |  | $ | 160 |  |  | $ | — |  |  | $ | 160 |
Interest rate contracts |  | — |  |  | 25 |  |  | — |  |  | 25 |  |  | — |  |  | 27 |  |  | — |  |  | 27 |
1 The Company’s U.S. government securities are classified within Level 1 of the Valuation Hierarchy as the fair values are based on unadjusted quoted prices for identical assets in active markets. The fair value of the Company’s available-for-sale non-U.S. government and agency securities, corporate securities and asset-backed securities are based on observable inputs such as quoted prices, benchmark yields and issuer spreads for similar assets in active markets and are therefore included in Level 2 of the Valuation Hierarchy. 2 The Company’s foreign exchange and interest rate derivative asset and liability contracts measured at fair value are based on observable inputs such as broker quotes for similar derivative instruments. See Note 16 (Derivative and Hedging Instruments) for further details. 3The Company’s Marketable securities are publicly held and fair values are based on unadjusted quoted prices in their respective active markets.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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