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SUPPLEMENTAL FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUPPLEMENTAL FINANCIAL INFORMATION
SUPPLEMENTAL FINANCIAL INFORMATION
Allowance for Doubtful Accounts
The following table is a summary of changes in our allowance for doubtful accounts for the years ended December 31, 2025 and 2024.
years ended December 31
(in millions)		202520242023
Balance at beginning of period$71 $62 $50 
Charged (released) to costs and expenses(6)7 7 
Write-offs(5)(8)(4)
Currency translation adjustments3 10 9 
Balance at end of period$63 $71 $62 
Inventories
as of December 31 (in millions)
2025
2024
Raw materials$536 $510 
Work in process369 266 
Finished goods1,327 1,270 
Inventories$2,232 $2,046 
Prepaid Expenses and Other Current Assets
as of December 31 (in millions)20252024
Prepaid value added taxes$86 $167 
Prepaid income taxes175 199 
Spare parts140 123 
Contract assets71 51 
Derivative assets— 8 
Other341 205 
Prepaid expenses and other current assets$813 $753 
Property, Plant and Equipment, Net
as of December 31 (in millions)20252024
Land and land improvements$119 $115 
Buildings and leasehold improvements1,402 1,301 
Machinery and equipment5,454 5,047 
Equipment on lease with customers375 467 
Construction in progress704 718 
Total property, plant and equipment, at cost8,054 7,648 
Accumulated depreciation(5,144)(4,778)
Property, plant and equipment, net$2,910 $2,870 
Depreciation expense was $383 million in 2025, $372 million in 2024 and $394 million in 2023.
Other Non-Current Assets
as of December 31 (in millions)20252024
Deferred tax assets$200 $204 
Non-current receivables, net50 50 
Contract assets76 82 
Capitalized implementation costs in hosting arrangements89 102 
Pension and other postretirement benefits66 56 
Investments103 109 
Other115 152 
Other non-current assets$699 $755 
Accrued Expenses and Other Current Liabilities
as of December 31 (in millions)20252024
Common stock dividends payable$5 $87 
Employee compensation and withholdings397 447 
Property, payroll and certain other taxes96 96 
Contract liabilities141 131 
Restructuring liabilities127 112 
Accrued rebates215 214 
Operating lease liabilities81 80 
Income taxes payable83 121 
Pension and other postretirement benefits39 39 
Other784 534 
Accrued expenses and other current liabilities$1,968 $1,861 
Other Non-Current Liabilities
as of December 31 (in millions)20252024
Pension and other postretirement benefits$637 $678 
Deferred tax liabilities245 103 
Long-term tax liabilities146 94 
Contingent payments related to acquisitions7 11 
Contract liabilities36 40 
Litigation and environmental reserves31 29 
Restructuring liabilities6 10 
Other179 111 
Other non-current liabilities$1,287 $1,076 
Interest Expense, net
years ended December 31 (in millions)202520242023
Interest costs$304 $421 $523 
Interest costs capitalized(14)(13)(15)
Interest expense290 408 508 
Interest income(52)(67)(69)
Interest expense, net$238 $341 $439 
Other (Income) Expense, net
years ended December 31 (in millions)202520242023
Foreign exchange (gains) losses, net$18 $25 $53 
Change in fair value of marketable equity securities(1)(3)(7)
Pension and other postretirement benefit (gains) losses(45)(39)(48)
Gain on debt extinguishment(16)— — 
Equity method investment impairment9 — — 
Non-marketable investment impairments    — — 34 
Other, net(6)(21)(6)
Other (income) expense, net$(41)$(38)$26 
Supplemental Cash Flow Information
Non-Cash Operating and Investing Activities
Purchases of property, plant and equipment included in accounts payable and accrued liabilities as of December 31, 2025, 2024 and 2023 was $74 million, $64 million and $58 million, respectively.
Other Supplemental Information
As discussed in Note 1, Summary of Significant Accounting Policies, we have elected to prospectively adopt the guidance in ASU 2023-09. The following table is a summary of income taxes paid by jurisdiction for the year ended December 31, 2025.
year ended December 31 (in millions)2025
United States - federal$12 
United States - state and local12 
Foreign
Australia18 
Canada25 
Germany39 
Other116 
Total income taxes paid$222 
The following table is a summary of interest paid for the years ended December 31, 2025, 2024 and 2023 and income taxes paid, in accordance with the guidance prior to the adoption of ASU 2023-09, for the years ended December 31, 2024 and 2023.
years ended December 31 (in millions)202520242023
Interest paid, net of portion capitalized$303 $401 $484 
Income taxes paid$223 $174