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Debt (Tables)
9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
September 30, 2025December 31, 2024
USD Term Loan Facility, due 2026(1)
$— $140 
JPY Term Loan Facility, due 2026(2)
200 188 
5.900% Notes, due 2027
625 625 
6.750% Bonds, due 2028
300 300 
3.000% Notes, due 2029
700 700 
4.850% Notes, due 2031(3)
500 500 
5.950% Notes, due 2037
625 625 
4.750% Iowa Finance Authority Loan, due 2042
250 250 
Other, net(4)
(11)(13)
3,189 3,315 
Less: long-term debt due within one year
Total long-term debt$3,188 $3,309 
(1)The Company completed the early prepayment of the remaining amount outstanding under the USD Term Loan Facility in 2025. The Company had entered into an interest rate swap to exchange the floating interest rate of this term loan facility to a fixed interest rate of 5.670% as of December 31, 2024, based on the Company’s long-term debt ratings. This swap was settled upon the prepayment of the USD Term Loan Facility with an immaterial impact to the Consolidated Financial Statements.
(2)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% and 1.919% as of September 30, 2025 and December 31, 2024, respectively, based on the Company’s long-term debt ratings. The amounts outstanding under the JPY Term Loan Facility are due in November 2026.
(3)The Company concurrently 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%.
(4)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.