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Supply Chain Financing Programs | 12 Months Ended
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Dec. 31, 2025
Payables and Accruals [Abstract] |
Supply Chain Financing Programs | Supply Chain Financing Programs We facilitate voluntary supply chain financing programs to provide some of our suppliers with the opportunity to sell receivables due from us (our accounts payables) to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. These programs are administered by participating financial institutions. When a supplier utilizes the supply chain financing programs, the supplier receives a payment from the financial institution in advance of our agreed payment terms, net of a discount charged. Our responsibility is limited to making payments to the respective financial institutions on the terms originally negotiated with our supplier. No assets are pledged as collateral by the Company or any of our subsidiaries under the programs. Most suppliers using the programs are on 120-day payment terms after the end of the month in which the invoice was issued. We monitor our days payable outstanding relative to our peers and industry trends in order to assess our conclusion that the programs continue to be trade payable programs and are not indicative of borrowing arrangements. The liabilities continue to be presented as Accounts payable in our Consolidated Balance Sheets until they are paid, and they are reflected as Cash flows from operating activities when settled. The Company’s outstanding obligations confirmed as valid under our supply chain financing programs for years ended December 31, 2025 and 2024 were as follows:
|  | December 31,
(In millions) |  | 2025 |  | 2024
Obligations outstanding at the beginning of the year |  | $ | 161.1 |  |  | $ | 153.0 |
Invoices confirmed during the year |  | 427.2 |  |  | 478.8 |
Confirmed invoices paid during the year |  | (442.8) |  |  | (469.5) |
Currency impact |  | 1.6 |  |  | (1.2) |
Obligations outstanding at the end of the year |  | $ | 147.1 |  |  | $ | 161.1 |

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