v3.25.4

Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities at Fair Value | The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheet at December 31:
| Total Carrying Value in the Consolidated Balance Sheet |  | 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 | $ | 13 |  |  | $ | 16 |  |  | $ | 13 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign Exchange Contracts | 6 |  |  | 28 |  |  | — |  |  | — |  |  | 6 |  |  | 28 |  |  | — |  |  | — |
Total Assets at Fair Value | $ | 19 |  |  | $ | 44 |  |  | $ | 13 |  |  | $ | 16 |  |  | $ | 6 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Contracts | $ | 30 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |
Total Liabilities at Fair Value | $ | 30 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |
Schedule of Supplemental Fair Value Information | The following table presents information about long term fixed rate and variable rate debt, excluding finance leases, at December 31:
(In millions) | December 31, 2025 |  | December 31, 2024
Fixed Rate Debt(1): |  |  |
Carrying amount — liability | $ | 4,496 |  |  | $ | 5,367 |
Fair value — liability | 4,422 |  |  | 5,076 |
Variable Rate Debt(1): |  |  |
Carrying amount — liability | $ | 935 |  |  | $ | 1,600 |
Fair value — liability | 935 |  |  | 1,590 |
(1)Excludes Notes Payable and Overdrafts of $506 million and $558 million at December 31, 2025 and 2024, respectively, of which $216 million and $241 million, respectively, are at fixed rates and $290 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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