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PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Reconciliation of Pension and OPEB Plan Obligations, Assets and Funded Status
The benefit plan information in the table below pertains to all of our pension and OPEB plans, both in the United States and in other countries.    
Pension benefitsOPEB
as of and for the years ended December 31 (in millions)2025202420252024
Benefit obligations
Beginning of period$2,748 $2,901 $141 $154 
Service cost13 11 — — 
Interest cost136 136 7 8 
Participant contributions2 3 — — 
Actuarial (gain) loss81 (129)6 (3)
Benefit payments(148)(133)(15)(15)
Settlements(5)(8)— — 
Curtailment(2)— — — 
Plan Amendments— — — (2)
Foreign exchange and other34 (33)— (1)
End of period2,859 2,748 139 141 
Fair value of plan assets
Beginning of period2,228 2,350 — — 
Actual return on plan assets221 (4)— — 
Employer contributions56 46 15 15 
Participant contributions2 3 — — 
Benefit payments(148)(133)(15)(15)
Settlements(5)(8)— — 
Foreign exchange and other34 (26)— — 
End of period2,388 2,228 — — 
Funded status at December 31$(471)$(520)$(139)$(141)
Amounts recognized in the consolidated balance sheets
Noncurrent asset$66 $56 $— $— 
Current liability(24)(23)(15)(16)
Noncurrent liability(513)(553)(124)(125)
Net liability recognized at December 31$(471)$(520)$(139)$(141)
Information Relating to Individual Plans in Funded Status that have ABO in Excess of Plan Assets The following table is information relating to the individual plans in the funded status table above that have an ABO in excess of plan assets.
as of December 31 (in millions)20252024
ABO$2,508 $2,403 
Fair value of plan assets$1,982 $1,843 
Information Relating to Individual Plans in Funded Status that have PBO in Excess of Plan Assets
The following table presents information relating to the individual plans in the funded status table above that have a PBO in excess of plan assets (many of which also have an ABO in excess of assets and are therefore also included in the table directly above).
as of December 31 (in millions)20252024
PBO$2,519 $2,419 
Fair value of plan assets$1,982 $1,843 
Expected Net Pension and OPEB Plan Payments for Next 10 Years
(in millions)Pension benefitsOPEB
2026$172 $15 
2027179 15 
2028186 14 
2029190 13 
2030195 13 
2031 through 20351,009 53 
Total expected net benefit payments for next 10 years$1,931 $123 
Summary of Pre-Tax losses Included in AOCI
The following table is a summary of the pre-tax losses (gains) included in AOCI at December 31, 2025 and 2024.
(in millions)Pension benefitsOPEB
Actuarial loss (gain)$680 $(27)
Prior service credit and transition obligation9 (2)
Total pre-tax loss (gain) recognized in AOCI at December 31, 2025$689 $(29)
Actuarial loss (gain)$642 $(42)
Prior service credit and transition obligation11 (10)
Total pre-tax loss (gain) recognized in AOCI at December 31, 2024$653 $(52)
Summary of Net-of-Tax Amounts Recorded in OCI Relating to Pension and OPEB Plans The following table is a summary of the net-of-tax amounts recorded in OCI relating to pension and OPEB plans.
Year ended December 31 (in millions)202520242023
Gain (loss) arising during the year, net of tax of $(14) in 2025, $(6) in 2024 and $31 in 2023
$(20)$(15)$(103)
Amortization of gain (loss) to earnings, net of tax of $(3) in 2025, zero in 2024 and $(5) in 2023
(8)(4)13 
Settlement charges, net of tax of zero in 2025 and 2024 and $(1) 2023
— — (2)
Pension and other employee benefits$(28)$(19)$(92)
Net Periodic Benefit Cost - Continuing Operations
Year ended December 31 (in millions)202520242023
Pension benefits
Service cost$13 $11 $19 
Interest cost136 136 148 
Expected return on plan assets(176)(179)(187)
Amortization of net losses and other deferred amounts6 15 6 
Curtailment gain(1)— — 
Settlement charges— — 1 
Other— — 1 
Net periodic pension benefit cost$(22)$(17)$(12)
OPEB
Interest cost$7 $8 $8 
Amortization of net losses and prior service credit(17)(19)(24)
Curtailment gain— — (1)
Net periodic OPEB cost$(10)$(11)$(17)
Weighted-Average Assumptions Used in Determining Benefit Obligations at Measurement Date
Pension benefitsOPEB
2025202420252024
Discount rate
U.S. and Puerto Rico plans5.46 %5.71 %5.13 %5.54 %
International plans3.90 %3.67 %n/an/a
Rate of compensation increase
U.S. and Puerto Rico plans4.00 %3.00 %n/an/a
International plans2.96 %3.07 %n/an/a
Annual rate of increase in the per-capita costn/an/a6.50 %6.75 %
Rate decreased ton/an/a5.00 %5.00 %
by the year endedn/an/a20322032
Pension benefitsOPEB
202520242023202520242023
Discount rate
U.S. and Puerto Rico plans5.71 %5.20 %5.55 %5.54 %5.11 %5.46 %
International plans3.67 %3.41 %4.11 %n/an/an/a
Expected return on plan assets
U.S. and Puerto Rico plans6.65 %6.65 %6.43 %n/an/an/a
International plans5.21 %4.86 %4.93 %n/an/an/a
Rate of compensation increase
U.S. and Puerto Rico plans3.00 %2.60 %2.93 %n/an/an/a
International plans3.06 %3.32 %3.43 %n/an/an/a
Annual rate of increase in the per-capita costn/an/an/a6.50 %6.75 %6.25 %
Rate decreased ton/an/an/a5.00 %5.00 %5.00 %
by the year endedn/an/an/a203220322029
Fair Value of Pension Plan Assets and Liabilities
The following tables summarize our pension plan financial instruments that are measured at fair value on a recurring basis.
Basis of fair value measurement
(in millions)Balance at December 31, 2025Quoted prices
in active
markets for
identical assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Measured at NAV (a)
Assets
Cash$60 
Fixed income securities
Cash equivalents$181 $— $181 $— $— 
U.S. government and government agency issues245 — 245 — — 
Corporate bonds398 — 398 — — 
Equity securities
Mutual funds743 222 521 — —
Common/collective trust funds335 — 38 — 297 
Partnership investments204 — — — 204 
Other holdings222 5 85 132 — 
Fair value of pension plan assets$2,388 $227 $1,468 $132 $501 
(a) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
Basis of fair value measurement
(in millions)Balance at December 31, 2024Quoted prices
in active
markets for
identical assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Measured at NAV (a)
Assets
Cash$52 
Fixed income securities
Cash equivalents$179 $— $179 $— $— 
U.S. government and government agency issues135 — 135 — — 
Corporate bonds357 — 357 — — 
Equity securities
Common stock353 353 — — — 
Mutual funds199 199 — — —
Common/collective trust funds540 — — — 540 
Partnership investments198 — — — 198 
Other holdings215 9 79 127 — 
Fair value of pension plan assets$2,228 $561 $750 $127 $738 
(a) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
Changes in Fair Value Measurements that Used Significant Unobservable Inputs
The following table is a reconciliation of changes in fair value measurements that used significant unobservable inputs (Level 3).
(in millions)Other
holdings
Balance at December 31, 2023$155 
Unrealized gains (losses)(24)
Sales(7)
Purchases3 
Balance at December 31, 2024127 
Unrealized gains (losses)10 
Sales(7)
Purchases2 
Balance at December 31, 2025$132 
Funded Status Percentage of Pension Plans
The following table details the funded status percentage of our pension plans as of December 31, 2025, including certain plans that are unfunded in accordance with the guidelines of our funding policy outlined above.
United States and Puerto RicoInternational
as of December 31, 2025 (in millions)Qualified
plans		Nonqualified
plan		Funded
plans		Unfunded
plans		Total
Fair value of plan assets$1,890 $ n/a$498 $ n/a$2,388 
PBO2,117 185 537 20 2,859 
Funded status percentage89 %n/a93 %n/a84 %