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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at December 31, 2024 and 2023.


				Fair Value Using Level 2 Inputs
		Balance Sheet Location		December 31, 2024				December 31, 2023
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument		Accounts and notes receivable, net (Note 11)		$	1			$	1
Foreign currency forward contracts designated as a cash flow hedge		Accounts and notes receivable, net (Note 11)			7				1
Cross-currency swap designated as a net investment hedge		Accounts and notes receivable, net (Note 11)			5				—
Total asset derivatives				$	13			$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument		Other accrued liabilities (Note 19)		$	1			$	1
Foreign currency forward contracts designated as a cash flow hedge		Other accrued liabilities (Note 19)			—				3
Interest rate swaps designated as a cash flow hedge		Other accrued liabilities (Note 19)			3				7
Total liability derivatives				$	4			$	11

Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the years ended December 31, 2024, 2023 and 2022.


		Gain (Loss) Recognized In
														Accumulated Other
		Cost of				Interest				Other				Comprehensive
Year Ended December 31,		Goods Sold				Expense, Net				Income, Net				Loss
2024
Foreign currency forward contracts not designated as a hedging instrument		$	—			$	—			$	5			$	—
Foreign currency forward contracts designated as a cash flow hedge			1				—				—				7
Interest rate swaps designated as a cash flow hedge			—				1				—				9
Euro-denominated debt designated as a net investment hedge			—				—				—				47
Cross-currency swap designated as a net investment hedge			—				—				—				5

2023
Foreign currency forward contracts not designated as a hedging instrument		$	—			$	—			$	(7	)		$	—
Foreign currency forward contracts designated as a cash flow hedge			5				—				—				(2	)
Interest rate swaps designated as a cash flow hedge			—				4				—				(6	)
Euro-denominated debt designated as a net investment hedge			—				—				—				(27	)

2022
Foreign currency forward contracts not designated as a hedging instrument		$	—			$	—			$	2			$	—
Foreign currency forward contracts designated as a cash flow hedge			19				—				—				17
Interest rate swaps designated as a cash flow hedge			—				5				—				8
Euro-denominated debt designated as a net investment hedge			—				—				—				53