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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Assets and Liabilities at Fair Value | The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at March 31, 2025 and December 31, 2024:
|  | Total Carrying Value in the Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
(In millions) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 16 |  |  | $ | 16 |  |  | $ | 16 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign Exchange Contracts |  |  | 12 |  |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | 28 |  |  |  | — |  |  |  | — |
Total Assets at Fair Value |  | $ | 28 |  |  | $ | 44 |  |  | $ | 16 |  |  | $ | 16 |  |  | $ | 12 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Contracts |  | $ | 22 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 22 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |
Total Liabilities at Fair Value |  | $ | 22 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 22 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |
Supplemental Fair Value Information | The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at March 31, 2025 and December 31, 2024:
|  | March 31, |  |  | December 31, |
(In millions) |  | 2025 |  |  | 2024 |
Fixed Rate Debt:(1) |  |  |  |  |  |
Carrying amount — liability |  | $ | 4,892 |  |  | $ | 5,367 |
Fair value — liability |  |  | 4,670 |  |  |  | 5,076 |
Variable Rate Debt:(1) |  |  |  |  |  |
Carrying amount — liability |  | $ | 2,448 |  |  | $ | 1,600 |
Fair value — liability |  |  | 2,408 |  |  |  | 1,590 |
(1) Excludes Notes Payable and Overdrafts of $436 million and $558 million at March 31, 2025 and December 31, 2024, respectively, of whic h $201 million and $241 million, respectively, are at fixed rates and $235 million and $317 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.

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