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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | The notional amounts of financial instruments used in hedging transactions were as follows:
In millions | September 30, 2025 |  | December 31, 2024
Electricity contracts (MWh) | 1.9 |  |  | 0.3 |
Natural gas contracts (MWh) | 8.1 |  |  | — |
Carbon credit contracts (tons) | 0.3 |  |  | — |
External debt (EUR) | € | 3,310 |  |  | € | — |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table shows gains or losses recognized in AOCI, net of tax, related to derivative instruments:
| Gain (Loss) Recognized in AOCI on Derivatives
| Three Months Ended September 30, |  | Nine Months Ended September 30,
In millions | 2025 |  | 2024 |  | 2025 |  | 2024
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |
Commodity contracts | $ | (2) |  |  | $ | — |  |  | $ | (54) |  |  | $ | — |
Derivatives in Net Investment Hedging Relationships: |  |  |  |  |  |  |
External debt | $ | (86) |  |  | $ | — |  |  | $ | (163) |  |  | $ | — |
Derivative Instruments, Gain (Loss) | The amounts of gains and losses recognized in the statement of operations on financial instruments used in hedging transactions were as follows:
| Gain (Loss) Reclassified from AOCI Into Income | Location of Gain (Loss) Reclassified from AOCI
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
In millions | 2025 |  | 2024 |  | 2025 |  | 2024 |
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |
Commodity contracts | $ | (8) |  |  | $ | — |  |  | $ | (14) |  |  | $ | — |  | Cost of products sold
Interest rate contract | — |  |  | — |  |  | (1) |  |  | — |  | Interest expense, net
Total | $ | (8) |  |  | $ | — |  |  | $ | (15) |  |  | $ | — |  |
| Gain (Loss) Recognized in Income | Location of Gain (Loss) In Statement of Operations
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
In millions | 2025 |  | 2024 |  | 2025 |  | 2024 |
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |
Commodity contracts | $ | (26) |  |  | $ | — |  |  | $ | (49) |  |  | $ | — |  | Cost of products sold
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Commodity contracts | 25 |  |  | 2 |  |  | 38 |  |  | (9) |  | Cost of products sold
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table provides a summary of the impact of our derivative instruments in the balance sheet:
| Assets |  | Liabilities |
In millions | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024 |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |
Commodity contracts – cash flow | $ | 5 |  |  | $ | — |  |  | $ | 46 |  |  | $ | — |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
Commodity contracts | 71 |  |  | 3 |  |  | 35 |  |  | — |  |
Total derivatives | $ | 76 |  | (a) | $ | 3 |  | (b) | $ | 81 |  | (c) | $ | — |  |
(a)Includes $45 million recorded in Other current assets and $31 million recorded in Deferred charges and other assets in the accompanying condensed consolidated balance sheet. (b)Includes $3 million recorded in Other current assets in the accompanying condensed consolidated balance sheet. (c)Includes $72 million recorded in Other current liabilities and $9 million recorded in Other liabilities in the accompanying condensed consolidated balance sheet.

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