Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivatives Outstanding

The following table is a summary of the fair value of derivatives outstanding at September 30, 2024 and December 31, 2023:


	Fair Value
	September 30, 2024				December 31, 2023
	Assets(a)		Accrued Liabilities		Assets(a)		Accrued Liabilities
Derivatives Designated as Cash Flow Hedges
Currency Contracts	$	6	$	—	$	—	$	—
Interest Rate Swaps	$	5	$	4	$	18	$	—
Natural Gas Hedges	$	—	$	—	$	—	$	1
Total Hedges	$	11	$	4	$	18	$	1
Derivatives Not Designated as Cash Flow Hedges
Currency Contracts	$	3	$	—	$	1	$	1
Total Derivatives	$	14	$	4	$	19	$	2

(a) At September 30, 2024 and December 31, 2023, current assets of $14 million and $19 million, respectively, are recorded in prepaid and other current assets on the Condensed Consolidated Balance Sheets.

Schedule of Derivatives' Impact on the Condensed Consolidated Statement of Operations

The following table summarizes the impact of the Company's derivatives on the unaudited Condensed Consolidated Statement of Operations:


	Amount of Pre-Tax Gain (Loss) Recognized in Earnings						Amount of Pre-Tax Gain (Loss) Recognized in Earnings
	Revenue		Cost of Goods Sold		Other (expense) income, net		Cost of Goods Sold		Other (expense) income, net
	Three Months Ended September 30, 2024						Three Months Ended September 30, 2023

Derivatives Not Designated as Hedging Instruments
Currency Contracts	$	—	$	—	$	(2)	$	—	$	2
Derivatives Designated as Hedging Instruments
Currency Contracts	$	2	$	—	$	—	$	—	$	—
Natural Gas Hedges	$	—	$	—	$	—	$	(1)	$	—
Total Derivatives	$	2	$	—	$	(2)	$	(1)	$	2


	Amount of Pre-Tax Gain (Loss) Recognized in Earnings						Amount of Pre-Tax Gain (Loss) Recognized in Earnings
	Revenue		Cost of Goods Sold		Other (expense) income, net		Cost of Goods Sold		Other (expense) income, net
	Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023

Derivatives Not Designated as Hedging Instruments
Currency Contracts	$	—	$	—	$	(5)	$	—	$	(2)
Derivatives Designated as Hedging Instruments
Currency Contracts	$	2	$	—	$	—	$	(4)	$	—
Natural Gas Hedges	$	—	$	(1)	$	—	$	(4)	$	—
Total Derivatives	$	2	$	(1)	$	(5)	$	(8)	$	(2)