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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Schedule of Share Repurchase Activity | The following table summarizes the Company’s share repurchase activity (in millions, except per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Shares repurchased | 0.7 |  |  | 0.9 |  |  | 2.0 |  |  | 2.5 |
Average price per share | $ | 362.00 |  |  | $ | 339.31 |  |  | $ | 371.71 |  |  | $ | 316.57 |
Repurchase costs recorded to accumulated deficit | $ | 250 |  |  | $ | 304 |  |  | $ | 750 |  |  | $ | 804 |
Schedule of Components of Weighted Average Number of Shares Outstanding | Weighted average ordinary shares outstanding are as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Basic weighted average ordinary shares outstanding | 215.7 |  |  | 217.4 |  |  | 216.1 |  |  | 209.7 |
Dilutive effect of potentially issuable shares | 1.0 |  |  | 1.0 |  |  | 1.2 |  |  | 0.9 |
Diluted weighted average ordinary shares outstanding | 216.7 |  |  | 218.4 |  |  | 217.3 |  |  | 210.6 |
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Related Tax | Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):
| Change in Fair Value of Financial Instruments (1) |  | Foreign Currency Translation Adjustments |  | Postretirement Benefit Obligation (2) |  | Total
Balance at January 1, 2025 | $ | 74 |  |  | $ | (2,051) |  |  | $ | (2,768) |  |  | $ | (4,745) |
Other comprehensive income (loss) before reclassifications, net | 10 |  |  | 752 |  |  | (8) |  |  | 754 |
Amounts reclassified from accumulated other comprehensive income |  |  |  |  |  |  |
Amounts reclassified from accumulated other comprehensive income (loss) | (8) |  |  | — |  |  | 110 |  |  | 102 |
Tax expense | 2 |  |  | — |  |  | (28) |  |  | (26) |
Amounts reclassified from accumulated other comprehensive income (loss), net | (6) |  |  | — |  |  | 82 |  |  | 76 |
Net current period other comprehensive income (loss) | 4 |  |  | 752 |  |  | 74 |  |  | 830 |
Balance at September 30, 2025 | $ | 78 |  |  | $ | (1,299) |  |  | $ | (2,694) |  |  | $ | (3,915) |
| Change in Fair Value of Financial Instruments (1) |  | Foreign Currency Translation Adjustments |  | Postretirement Benefit Obligation (2) |  | Total
Balance at January 1, 2024 | $ | 2 |  |  | $ | (1,584) |  |  | $ | (2,791) |  |  | $ | (4,373) |
Other comprehensive income (loss) before reclassifications, net | 85 |  |  | 129 |  |  | (40) |  |  | 174 |
Amounts reclassified from accumulated other comprehensive income |  |  |  |  |  |  |
Amounts reclassified from accumulated other comprehensive income | (1) |  |  | — |  |  | 106 |  |  | 105 |
Tax expense | — |  |  | — |  |  | (27) |  |  | (27) |
Amounts reclassified from accumulated other comprehensive income, net | (1) |  |  | — |  |  | 79 |  |  | 78 |
Net current period other comprehensive income (loss) | 84 |  |  | 129 |  |  | 39 |  |  | 252 |
Balance at September 30, 2024 | $ | 86 |  |  | $ | (1,455) |  |  | $ | (2,752) |  |  | $ | (4,121) |
(1)Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Total revenue, Interest expense, and Compensation and benefits in the Condensed Consolidated Statements of Income. Refer to Note 13 “Derivatives and Hedging” for further information regarding the Company’s derivative and hedging activity. (2)Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense) in the Condensed Consolidated Statements of Income.

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