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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis and indicates their levels within the fair value hierarchy:

			June 30, 2026																								December 31, 2025
			Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Assets
Money market funds(a)			$	246					$	—					$	—					$	246					$	340					$	—					$	—					$	340
Interest rate swaps(b)			—						302						—						302						—						245						—						245
Natural gas supply contracts(b)			—						1						90						91						—						1						50						51
Total			$	246					$	303					$	90					$	639					$	340					$	246					$	50					$	636
Liabilities
Interest rate swaps(c)			$	—					$	43					$	—					$	43					$	—					$	102					$	—					$	102
Natural gas supply contracts(c)			—						3						192						195						—						20						149						169
Total			$	—					$	46					$	192					$	238					$	—					$	122					$	149					$	271

_______________

(a)Included in cash and cash equivalents on the condensed consolidated balance sheets.

(b)Included in derivative assets and noncurrent derivative assets on the condensed consolidated balance sheets.

(c)Included in accrued and other liabilities and other noncurrent liabilities on the condensed consolidated balance sheets.

Schedule of Quantitative Information for the Unobservable Inputs for Level 3 Natural Gas Supply Contracts

The following table includes quantitative information for the unobservable inputs for Level 3 natural gas supply contracts as of June 30, 2026 (natural gas price amounts in dollars):

Valuation approach

Significant unobservable input

Range of significant unobservable input

Arithmetic average of significant unobservable input

Discounted cash flow

Forward natural gas price per MMBtu(a)

$2.07 to $5.37

$

3.47

Option pricing model

Volatility

19.2% to 66.3%

28.2

%

____________

(a)    At illiquid delivery locations.

Schedule of Reconciliation of Change in Fair Value of Level 3 Derivative Instruments

The following table provides a reconciliation of changes in the net fair value of derivative instruments measured at fair value on a recurring basis using Level 3 inputs:

			Three months ended June 30,
			2026						2025
Beginning balance as of April 1			$	(75)					$	(28)
Total realized and unrealized loss included in earnings			(65)						(131)
Settlements			38						57
Ending balance as of June 30			$	(102)					$	(102)
Unrealized loss included in earnings			$	(27)					$	(74)
			Six months ended June 30,
			2026						2025
Beginning balance as of January 1			$	(99)					$	6
Total realized and unrealized loss included in earnings			(92)						(141)
Settlements			100						33
Transfer into Level 3			(11)						—
Ending balance as of June 30			$	(102)					$	(102)
Unrealized gain (loss) included in earnings			$	8					$	(108)

Schedule of Fair Value of Outstanding Debt Instruments

The following table presents the carrying value, fair value and fair value hierarchy of outstanding debt instruments in the condensed consolidated balance sheets:

			June 30, 2026
			Carrying value						Fair value
									Level 1						Level 2						Level 3						Total
Fixed rate debt			$	26,084					$	23,827					$	84					$	—					$	23,911
Variable rate debt			16,302						—						16,302						—						16,302

			December 31, 2025
			Carrying value						Fair value
									Level 1						Level 2						Level 3						Total
Fixed rate debt			$	25,334					$	25,426					$	84					$	—					$	25,510
Variable rate debt			9,478						1,078						8,403						—						9,481

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

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-Topic 820
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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