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Leases | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | Leases Lease cost for the year ended December 31, 2025, 2024 and 2023 was comprised of the following:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Operating lease cost |  | $ | 47 |  |  | $ | 39 |  |  | $ | 37 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | 7 |  |  | 6 |  |  | $ | 6 |
Interest on lease liabilities |  | 5 |  |  | 5 |  |  | $ | 5 |
Short term lease cost |  | 43 |  |  | 41 |  |  | $ | 36 |
Variable lease cost |  | 10 |  |  | 8 |  |  | $ | 5 |
Total lease cost |  | $ | 112 |  |  | $ | 99 |  |  | $ | 89 |
The table below summarizes lease cost for the year ended December 31, 2025, 2024 and 2023 recorded in the specific line items, which are subsequently recorded in our Consolidated Statements of Operations:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Cost of goods sold |  | $ | 97 |  |  | $ | 91 |  |  | $ | 82 |
Selling, general and administrative expenses |  | 4 |  |  | 3 |  |  | 2 |
Interest expense |  | 5 |  |  | 5 |  |  | 5 |
Restructuring(1) |  | $ | 6 |  |  | $ | — |  |  | $ | — |
Total |  | $ | 112 |  |  | $ | 99 |  |  | $ | 89 |
(1) Restructuring amounts relate to leased assets utilized at the Company's Netherlands plant after the March 2025 announcement to indefinitely close the facility. See Note 3. The weighted-average remaining lease term in years and weighted-average discount rates at December 31, 2025 and 2024 were as follows:
|  | December 31, 2025 |  | December 31, 2024
Weighted-average remaining lease term: |  |  |  |
Operating leases |  | 10.8 |  | 11.3
Finance leases |  | 6.4 |  | 6.95
Weighted-average discount rate: |  |  |  |
Operating leases |  | 11.4 | % |  | 11.5 | %
Finance leases |  | 12.5 | % |  | 12.0 | %
The maturity analysis for operating leases and finance leases at December 31, 2025 were as follows:
|  | Operating Leases |  | Finance Leases
2026 |  | 38 |  |  | 10 |
2027 |  | 31 |  |  | 9 |
2028 |  | 28 |  |  | 9 |
2029 |  | 27 |  |  | 8 |
2030 |  | $ | 22 |  |  | $ | 8 |
Thereafter |  | 152 |  |  | 14 |
Total lease payments |  | 298 |  |  | 58 |
Less: imputed interest |  | (128) |  |  | (19) |
Present value of lease payments |  | $ | 170 |  |  | $ | 39 |
Additional information relating to cash flows and ROU assets for the years then ended is as follows:
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows used for operating leases |  | $ | 42 |  |  | $ | 38 |  |  | $ | 40 |
Operating cash flows used for finance leases |  | $ | 5 |  |  | $ | 5 |  |  | $ | 5 |
Financing cash flows used for finance leases |  | $ | 6 |  |  | $ | 5 |  |  | $ | 5 |
Additional information relating to ROU assets for the year ended December 31, 2025 and 2024 is as follows:
|  | Year Ended December 31,
|  | 2025 |  | 2024
ROU assets obtained in exchange for lease obligations: |  |  |  |
Operating leases obtained in the normal course of business |  | $ | 64 |  |  | $ | 32 |
Finance leases obtained in the normal course of business |  | $ | 3 |  |  | $ | 4 |
As of December 31, 2025, we have ROU assets of $10 million for additional leases that have not yet commenced, as set forth below:
|  | ROU Asset |  | Commencement Period |  | Lease Duration
Operating Leases for Buildings |  | $ | 2 |  |  | 2026 |  | 2 - 3 years
Finance Lease for Machinery & Equipment |  | $ | 8 |  |  | 2026 |  | 7 - 15 years
Leases | Leases Lease cost for the year ended December 31, 2025, 2024 and 2023 was comprised of the following:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Operating lease cost |  | $ | 47 |  |  | $ | 39 |  |  | $ | 37 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | 7 |  |  | 6 |  |  | $ | 6 |
Interest on lease liabilities |  | 5 |  |  | 5 |  |  | $ | 5 |
Short term lease cost |  | 43 |  |  | 41 |  |  | $ | 36 |
Variable lease cost |  | 10 |  |  | 8 |  |  | $ | 5 |
Total lease cost |  | $ | 112 |  |  | $ | 99 |  |  | $ | 89 |
The table below summarizes lease cost for the year ended December 31, 2025, 2024 and 2023 recorded in the specific line items, which are subsequently recorded in our Consolidated Statements of Operations:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Cost of goods sold |  | $ | 97 |  |  | $ | 91 |  |  | $ | 82 |
Selling, general and administrative expenses |  | 4 |  |  | 3 |  |  | 2 |
Interest expense |  | 5 |  |  | 5 |  |  | 5 |
Restructuring(1) |  | $ | 6 |  |  | $ | — |  |  | $ | — |
Total |  | $ | 112 |  |  | $ | 99 |  |  | $ | 89 |
(1) Restructuring amounts relate to leased assets utilized at the Company's Netherlands plant after the March 2025 announcement to indefinitely close the facility. See Note 3. The weighted-average remaining lease term in years and weighted-average discount rates at December 31, 2025 and 2024 were as follows:
|  | December 31, 2025 |  | December 31, 2024
Weighted-average remaining lease term: |  |  |  |
Operating leases |  | 10.8 |  | 11.3
Finance leases |  | 6.4 |  | 6.95
Weighted-average discount rate: |  |  |  |
Operating leases |  | 11.4 | % |  | 11.5 | %
Finance leases |  | 12.5 | % |  | 12.0 | %
The maturity analysis for operating leases and finance leases at December 31, 2025 were as follows:
|  | Operating Leases |  | Finance Leases
2026 |  | 38 |  |  | 10 |
2027 |  | 31 |  |  | 9 |
2028 |  | 28 |  |  | 9 |
2029 |  | 27 |  |  | 8 |
2030 |  | $ | 22 |  |  | $ | 8 |
Thereafter |  | 152 |  |  | 14 |
Total lease payments |  | 298 |  |  | 58 |
Less: imputed interest |  | (128) |  |  | (19) |
Present value of lease payments |  | $ | 170 |  |  | $ | 39 |
Additional information relating to cash flows and ROU assets for the years then ended is as follows:
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows used for operating leases |  | $ | 42 |  |  | $ | 38 |  |  | $ | 40 |
Operating cash flows used for finance leases |  | $ | 5 |  |  | $ | 5 |  |  | $ | 5 |
Financing cash flows used for finance leases |  | $ | 6 |  |  | $ | 5 |  |  | $ | 5 |
Additional information relating to ROU assets for the year ended December 31, 2025 and 2024 is as follows:
|  | Year Ended December 31,
|  | 2025 |  | 2024
ROU assets obtained in exchange for lease obligations: |  |  |  |
Operating leases obtained in the normal course of business |  | $ | 64 |  |  | $ | 32 |
Finance leases obtained in the normal course of business |  | $ | 3 |  |  | $ | 4 |
As of December 31, 2025, we have ROU assets of $10 million for additional leases that have not yet commenced, as set forth below:
|  | ROU Asset |  | Commencement Period |  | Lease Duration
Operating Leases for Buildings |  | $ | 2 |  |  | 2026 |  | 2 - 3 years
Finance Lease for Machinery & Equipment |  | $ | 8 |  |  | 2026 |  | 7 - 15 years

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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