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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cash flow hedges included in AOCI

The derivative instruments designated as cash flow hedges included in accumulated other comprehensive loss (“AOCL”) were as follows:

						(Losses) Gains included in AOCL as of
						September 30, 2025						December 31, 2024
Commodity contracts, net of income tax effect of $4 and $—						$	(12)					$	(1)
Foreign currency contracts, net of income tax effect of $3 and $4						7						7
Interest rate contracts, net of income tax effect of $1						(2)						(2)
Total						$	(7)					$	4

Schedule of fair value and balance sheet location of derivative instruments

The fair value and balance sheet location of our derivative instruments, presented gross on the Condensed Consolidated Balance Sheets, were as follows:

						Fair Value of Hedging Instruments as of September 30, 2025
						Designated Hedging Instruments																		Non-Designated Hedging Instruments
Balance Sheet Location						Commodity Contracts						Foreign Currency Contracts						Total						Commodity Contracts						Foreign Currency Contracts						Total
Accounts receivable, net						$	3					$	19					$	22					$	1					$	6					$	7
Other non-current assets						1						2						3						—						1						1
Assets						4						21						25						1						7						8
Accounts payable						10						10						20						2						4						6
Other non-current liabilities						—						1						1						—						—						—
Liabilities						10						11						21						2						4						6
Net Assets/(Liabilities)						$	(6)					$	10					$	4					$	(1)					$	3					$	2

						Fair Value of Hedging Instruments as of December 31, 2024
						Designated Hedging Instruments																		Non-Designated Hedging Instruments
Balance Sheet Location						Commodity Contracts						Foreign Currency Contracts						Total						Commodity Contracts						Foreign Currency Contracts						Total
Accounts receivable, net						$	18					$	15					$	33					$	1					$	11					$	12
Other non-current assets						1						4						5						—						2						2
Assets						19						19						38						1						13						14
Accounts payable						8						8						16						1						2						3
Other non-current liabilities						—						2						2						—						—						—
Liabilities						8						10						18						1						2						3
Net Assets/(Liabilities)						$	11					$	9					$	20					$	—					$	11					$	11

Schedule of amount of gains and losses recognized in OCI and income statement location

Additional information relating to our derivative instruments in cash flow hedging relationships were as follows:

						(Losses) Gains Recognized in OCL on Derivatives																		(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships						Three Months Ended September 30,												Income Statement Location						Three Months Ended September 30,
						2025						2024												2025						2024
Commodity contracts						$	(11)					$	(5)					Cost of sales						$	(8)					$	(28)
Foreign currency contracts						1						12						Net sales/Cost of sales						7						—
Total						$	(10)					$	7											$	(1)					$	(28)

						(Losses) Gains Recognized in OCL on Derivatives																		(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships						Nine Months Ended September 30,												Income Statement Location						Nine Months Ended September 30,
						2025						2024												2025						2024
Commodity contracts						$	(22)					$	(76)					Cost of sales						$	(7)					$	(93)
Foreign currency contracts						16						14						Net sales/Cost of sales						17						1
Total						$	(6)					$	(62)											$	10					$	(92)

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

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-Topic 815
-SubTopic 10
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-Section 50
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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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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.

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