v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements, Recurring and Nonrecurring
The following tables provide the valuation hierarchy classification of assets and liabilities that are recorded at fair value and measured on a recurring basis in the accompanying Unaudited Condensed Consolidated Balance Sheet:

(In millions)TotalLevel 1Level 2Level 3
March 31, 2026
Derivative assets (1)
$133 $— $133 $— 
Derivative liabilities (2)
$(153)$— $(153)$— 
December 31, 2025
Derivative assets (1)
$129 $— $129 $— 
Derivative liabilities (2)
$(166)$— $(166)$— 
(1) Included in Other current assets and Other assets on the accompanying Unaudited Condensed Consolidated Balance Sheet.
(2) Included in Accrued liabilities and Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet.

The following table provides the carrying values and fair values of the Company's long-term notes that are not recorded at fair value in the accompanying Unaudited Condensed Consolidated Balance Sheet:

March 31, 2026December 31, 2025
(In millions)Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Total long-term notes (1)
$10,785 $9,939 $10,842 $10,167 
(1) Excludes debt discount and issuance costs.