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Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2026
Investments, All Other Investments [Abstract] |
Carrying Amount and Estimated Fair Values of Financial Instruments | The carrying values and the estimated fair values of financial instruments at March 31, 2026 and December 31, 2025 consisted of the following:
| March 31, 2026 |  | December 31, 2025
(DOLLARS IN MILLIONS) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
LEVEL 1 |  |  |  |  |  |  |
Cash and cash equivalents(1) | $ | 562 |  |  | $ | 562 |  |  | $ | 590 |  |  | $ | 590 |
LEVEL 2 |  |  |  |  |  |  |
Credit facilities and bank overdrafts(2) | 3 |  |  | 3 |  |  | 4 |  |  | 4 |
Derivatives |  |  |  |  |  |  |
Derivative assets(3) | 25 |  |  | 25 |  |  | 18 |  |  | 18 |
Derivative liabilities(3) | 220 |  |  | 220 |  |  | 242 |  |  | 242 |
Commercial paper(2) | 154 |  |  | 154 |  |  | 314 |  |  | 314 |
Long-term debt: |  |  |  |  |  |  |
2026 Euro Notes(4) | 925 |  |  | 920 |  |  | 940 |  |  | 935 |
2027 Notes(4) | 803 |  |  | 768 |  |  | 804 |  |  | 768 |
2028 Notes(4) | 399 |  |  | 399 |  |  | 399 |  |  | 403 |
2030 Notes(4) | 1,238 |  |  | 1,098 |  |  | 1,238 |  |  | 1,113 |
2040 Notes(4) | 341 |  |  | 248 |  |  | 341 |  |  | 255 |
2047 Notes(4) | 392 |  |  | 313 |  |  | 392 |  |  | 322 |
2048 Notes(4) | 674 |  |  | 593 |  |  | 674 |  |  | 607 |
2050 Notes(4) | 888 |  |  | 570 |  |  | 888 |  |  | 585 |
_______________________ (1)The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments. (2)The carrying amount approximates fair value as the interest rate is reset frequently based on current market rates as well as the short maturity of those instruments. (3)The carrying amount approximates fair value as the instruments are marked-to-market and held at fair value on the Consolidated Balance Sheets. (4)The fair value of the Note is obtained from pricing services engaged by the Company, and the Company receives one price for each security. The fair value provided by the pricing services are estimated using pricing models, where the inputs to those models are based on observable market inputs or recent trades of similar securities. The inputs to the valuation techniques applied by the pricing services are typically benchmark yields, benchmark security prices, credit spreads, reported trades and broker-dealer quotes, all with reasonable levels of transparency.
Derivative Instruments Notional Amount Outstanding | The following table shows the notional amount of the Company’s derivative instruments outstanding as of March 31, 2026 and December 31, 2025:
(DOLLARS IN MILLIONS) | March 31, 2026 |  | December 31, 2025
Foreign currency contracts(1) | $ | (1,984) |  |  | $ | (1,840) |
Commodity contracts(1) | 5 |  |  | 11 |
Cross currency swaps | 2,400 |  |  | 1,900 |
_______________________ (1)Foreign currency contracts and commodity contracts are presented net of the outstanding buy/(sell) instruments.
Derivative Instruments Measured at Fair Value | The following tables show the Company’s derivative instruments measured at fair value (Level 2 of the fair value hierarchy), as reflected on the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025:
| March 31, 2026
(DOLLARS IN MILLIONS) | Fair Value of Derivatives Designated as Hedging Instruments |  | Fair Value of Derivatives Not Designated as Hedging Instruments |  | Total Fair Value
Derivative assets(1) |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 4 |  |  | $ | 4 |
Cross currency swaps | 18 |  |  | — |  |  | 18 |
Commodity contracts | 3 |  |  | — |  |  | 3 |
Total derivative assets | $ | 21 |  |  | $ | 4 |  |  | $ | 25 |
Derivative liabilities(2) |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 16 |  |  | $ | 16 |
Cross currency swaps | 204 |  |  | — |  |  | 204 |
Total derivative liabilities | $ | 204 |  |  | $ | 16 |  |  | $ | 220 |
| December 31, 2025
(DOLLARS IN MILLIONS) | Fair Value of Derivatives Designated as Hedging Instruments |  | Fair Value of Derivatives Not Designated as Hedging Instruments |  | Total Fair Value
Derivative assets(1) |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 17 |  |  | $ | 17 |
Cross currency swaps | 1 |  |  | — |  |  | 1 |
Total derivative assets | $ | 1 |  |  | $ | 17 |  |  | $ | 18 |
Derivative liabilities(2) |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 3 |  |  | $ | 3 |
Cross currency swaps | 238 |  |  | — |  |  | 238 |
Commodity contracts | 1 |  |  | — |  |  | 1 |
Total derivative liabilities | $ | 239 |  |  | $ | 3 |  |  | $ | 242 |
_______________________ (1)Derivative assets are recorded to Prepaid expenses and other current assets on the Consolidated Balance Sheets. (2)Derivative liabilities are recorded to Other current liabilities and Other liabilities on the Consolidated Balance Sheets.
Derivative Instruments Which Were Not Designated as Hedging Instruments | The following table shows the effect of the Company’s derivative instruments which were not designated as hedging instruments on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended March 31, 2026 and 2025:
| Amount of Gain (Loss) Recognized in Income on Derivative Settlements |  | Amount of Gain (Loss) Recognized in Income on Changes in Fair Value | Location of Gain (Loss) Recognized in Income on Derivative
(DOLLARS IN MILLIONS) | Three Months Ended March 31, |  | Three Months Ended March 31,
2026 |  | 2025 |  | 2026 |  | 2025
Foreign currency forward contracts(1) | $ | (10) |  |  | $ | 22 |  |  | $ | (27) |  |  | $ | 30 |  | Other expense, net
_______________________ (1)The foreign currency contract net gains (losses) offset any recognized gains (losses) arising from the revaluation of the related intercompany loans during the same respective periods.
Derivative Instruments Designated as Cash Flow and Net Investment Hedging Instruments | The following table shows the effect of the Company’s derivative and non-derivative instruments designated as cash flow and net investment hedging instruments, net of tax, on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended March 31, 2026 and 2025:
| Amount of Gain (Loss) Recognized in OCI on Derivative and Non-Derivative (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (“AOCI”) into Income (Effective Portion) |  | Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
| Three Months Ended March 31, |  |  | Three Months Ended March 31,
(DOLLARS IN MILLIONS) | 2026 |  | 2025 |  |  | 2026 |  | 2025
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 4 |  |  | $ | (1) |  |  | Cost of sales |  | $ | — |  |  | $ | — |
Derivatives in Net Investment Hedging Relationships: |  |  |  |  |  |  |  |  |
Cross currency swaps | 51 |  |  | (31) |  |  | N/A |  | — |  |  | — |
Non-Derivatives in Net Investment Hedging Relationships: |  |  |  |  |  |  |  |  |
2026 Euro Notes | 15 |  |  | (37) |  |  | N/A |  | — |  |  | — |
Tax (expense) benefit | (15) |  |  | 16 |  |  |  |  | — |  |  | — |
Total | $ | 55 |  |  | $ | (53) |  |  |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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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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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
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- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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