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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis | Assets and liabilities of the Company are measured at fair value on a recurring basis as of June 30, 2026, and are summarized as follows:
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
Description |  | June 30, 2026 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 145 |  |  | $ | 145 |  |  | $ | — |  |  | $ | — |
Time deposits |  |  | 12 |  |  |  | — |  |  |  | 12 |  |  |  | — |
Equity securities |  |  | 6 |  |  |  | 6 |  |  |  | — |  |  |  | — |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Group insurance contracts |  |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | — |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  |  | 2 |  |  |  | — |  |  |  | 2 |  |  |  | — |
Interest rate swaps - non-current |  |  | 10 |  |  |  | — |  |  |  | 10 |  |  |  | — |
Pension and deferred compensation plan assets |  |  | 30 |  |  |  | — |  |  |  | 30 |  |  |  | — |
Total assets |  | $ | 211 |  |  | $ | 151 |  |  | $ | 60 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts - current |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |
Total liabilities |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |
Reported as follows: |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents(1) |  | $ | 157 |  |  | $ | 145 |  |  | $ | 12 |  |  | $ | — |
Other current assets |  |  | 2 |  |  |  | — |  |  |  | 2 |  |  |  | — |
Total current assets |  | $ | 159 |  |  | $ | 145 |  |  | $ | 14 |  |  | $ | — |
Other assets |  | $ | 52 |  |  | $ | 6 |  |  | $ | 46 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |
(1) The cash and cash equivalents amount presented in the table above does not include cash of $454 as of June 30, 2026. Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2025, and are summarized as follows:
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
Description |  | December 31, 2025 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 246 |  |  | $ | 246 |  |  | $ | — |  |  | $ | — |
Time deposits |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | — |
Equity securities |  |  | 2 |  |  |  | 2 |  |  |  | — |  |  |  | — |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Group insurance contracts |  |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | — |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Interest rate swaps - current |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Interest rate swaps - non-current |  |  | 5 |  |  |  | — |  |  |  | 5 |  |  |  | — |
Pension and deferred compensation plan assets |  |  | 27 |  |  |  | — |  |  |  | 27 |  |  |  | — |
Total assets |  | $ | 299 |  |  | $ | 248 |  |  | $ | 51 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts - current |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |
Interest rate swaps - current |  |  | 5 |  |  |  | — |  |  |  | 5 |  |  |  | — |
Total liabilities |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Reported as follows: |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents (1) |  | $ | 257 |  |  | $ | 246 |  |  | $ | 11 |  |  | $ | — |
Other current assets |  |  | 2 |  |  |  | — |  |  |  | 2 |  |  |  | — |
Total current assets |  | $ | 259 |  |  | $ | 246 |  |  | $ | 13 |  |  | $ | — |
Other assets |  | $ | 40 |  |  | $ | 2 |  |  | $ | 38 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
(1) The cash and cash equivalents amount presented in the table above does not include cash of $418 as of December 31, 2025.
Schedule of Estimated Carrying Value and Fair Value of Company's Debt | The estimated carrying value and fair value of the Company’s debt were as follows:
|  | June 30, 2026 |  |  | December 31, 2025 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Term Loan Facility |  | $ | 1,481 |  |  | $ | 1,488 |  |  | $ | 2,878 |  |  | $ | 2,900 |
Convertible Notes |  |  | 1,400 |  |  |  | 4,133 |  |  |  | 1,400 |  |  |  | 1,792 |
2034 Notes |  |  | 1,142 |  |  |  | 1,130 |  |  |  | — |  |  |  | — |
Total |  | $ | 4,023 |  |  | $ | 6,751 |  |  | $ | 4,278 |  |  | $ | 4,692 |

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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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