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PENSION AND OTHER RETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Summary of Changes in Benefit Obligations and Fair Value of Plan Assets for Retirement Plans
The following is a summary of changes in benefit obligations and fair value of plan assets for the Retirement Plans for the years ended December 31:
Pension PlansOther Retirement Plans
2025202420252024
Change in benefit obligation:
Benefit obligation, beginning of the period$(464)$(484)$(42)$(42)
Service cost(10)(10)(3)(3)
Interest cost(25)(22)(2)(2)
Plan participants’ contributions— — (2)(2)
Benefits paid21 24 4 3 
Actuarial (loss) gain (3)— 2 — 
Assumption changes(11)28 (1)4 
Benefit obligation, end of the period$(492)$(464)$(44)$(42)
Change in plan assets:
Fair value of plan assets, beginning of the period$460 $449 $— $— 
Actual return on plan assets55 24 — — 
Benefits paid(21)(24)(3)(3)
Employer contributions6 11 1 1 
Plan participants’ contributions— — 2 2 
Fair value of plan assets, end of the period$500 $460 $— $— 
Funded status of the plans$8 $(4)$(44)$(42)
Amounts recorded on the consolidated balance sheets:
Pension and retirement benefits asset – non current$75 $60 $— $— 
Pension and retirement benefits liability – current(7)(8)(2)(2)
Pension and retirement benefits liability – non current(60)(56)(42)(40)
Net amount recognized$8 $(4)$(44)$(42)
Accumulated benefit obligation, end of the period$(464)$(436)
Accumulated Benefit Obligation in Excess of Plan Assets
The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets:
December 31,
20252024
Aggregate projected benefit obligation$68 $65 
Aggregate accumulated benefit obligation$60 $57 
Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in AOCI
The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31:
Pension PlansOther Retirement Plans
2025202420252024
Net actuarial gains (losses)
$(53)$(61)$13 $13 
Net prior service credits— 1 — — 
Total recognized in AOCL – pre-tax
$(53)$(60)$13 $13 
Components of Net Periodic Benefit Expense Related to Retirement Plans
Net periodic pension expenses (income) recognized for the Retirement Plans are as follows for the years ended December 31:
Pension PlansOther Retirement Plans
202520242023202520242023
Components of net periodic expense (income)
Service cost$10 $10 $11 $3 $3 $3 
Interest cost25 22 22 2 2 2 
Expected return on plan assets(33)(30)(32)— — — 
Amortization of net actuarial (gains) losses and prior service credits from earlier periods
(1)— (1)(1)(1)(1)
(Gain) loss on settlement of pension obligations
— (1)(2)— — — 
Net periodic expense (income)
$1 $1 $(2)$4 $4 $4 
Summary of Pre-Tax Amounts Recorded in OCI
The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31:
Pension PlansOther Retirement Plans
202520242023202520242023
Amortization of net actuarial (gains) losses and prior service credit
$(1)$(1)$(1)$(1)$(1)$(1)
(Gain) loss on settlement of pension obligations
— (1)(2)— — — 
Net actuarial gain (loss) arising during the period
8 22 (3)1 4 1 
Total recognized in OCI – pre-tax$7 $20 $(6)$— $3 $— 
Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Expenses
Weighted-average assumptions used to determine benefit obligations at December 31:
Pension PlansOther Retirement Plans
2025202420252024
Discount rate5.24 %5.43 %5.30 %5.40 %
Rate of compensation increase3.10 %3.60 %— — 
Cash balance plan interest crediting rate
4.71 %4.78 %— — 
Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31:
Pension PlansOther Retirement Plans
202520242023202520242023
Discount rate5.43 %4.73 %4.93 %5.40 %4.75 %4.90 %
Expected return on plan assets6.60 %6.10 %6.55 %— — — 
Rate of compensation increase3.60 %3.60 %3.63 %— — — 
Cash balance plan interest crediting rate4.78 %4.50 %4.50 %— — — 
Summary of Pension Plan Assets by Category Based on Hierarchy of Fair Value Measurements
Fair value of the assets in the Company’s funded pension plan by asset category at December 31, 2025 and 2024 are as follows:
Fair Value Measurement as of December 31, 2025
Asset CategoryBalanceLevel 1Level 2
Measured using NAV practical expedient (1)
% of total
assets
Cash and cash equivalents
$4 $— $4 $— 1 %
Common/collective trust funds—equity securities
U.S. large-cap119 — 119 — 24 %
U.S. small and mid-cap28 — 28 — 6 %
Total equity investments147 — 147 — 30 %
Emerging markets bond fund35 — — 35 7 %
Common/collective trust funds and corporate bonds—fixed income securities
Intermediate-term investment grade U.S. government/ corporate bonds64 — 64 — 13 %
Mutual funds
Long duration corporate bonds157 — 157 — 31 %
U.S. Treasury Inflation-Protected Securities (TIPs)27 27 — — 5 %
Emerging markets equity
26 — 26 — 5 %
Private investment fund—high yield securities16 — — 16 3 %
Total fixed-income investments325 27 247 51 64 %
Other investment—private real estate fund24 — — 24 5 %
Total Assets$500 $27 $398 $75 100 %
Fair Value Measurement as of December 31, 2024
Asset CategoryBalanceLevel 1Level 2
Measured using NAV practical expedient (1)
% of total
assets
Cash and cash equivalents
$2 $— $2 $— — %
Common/collective trust funds—equity securities
U.S. large-cap114 — 114 — 25 %
U.S. small and mid-cap25 — 25 — 5 %
Total equity investments139 — 139 — 30 %
Emerging markets bond fund30 — — 30 7 %
Common/collective trust funds and corporate bonds—fixed income securities
Intermediate-term investment grade U.S. government/ corporate bonds57 — 57 — 12 %
Mutual funds
Long duration corporate bonds146 — 146 — 32 %
U.S. Treasury Inflation-Protected Securities (TIPs)26 26 — — 6 %
Emerging markets equity
21 — 21 — 5 %
Private investment fund—high yield securities15 — — 15 3 %
Total fixed-income investments295 26 224 45 65 %
Other investment—private real estate debt fund24 — — 24 5 %
Total Assets$460 $26 $365 $69 100 %
(1)Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets.
Estimated Future Benefits Payments for Retirement Plans
Estimated future benefits payments for the Retirement Plans are as follows as of the year ended December 31, 2025:
Year Ending December 31,Pension PlansOther Retirement Plans
2026$33 $2 
202735 2 
202838 3 
202939 3 
203039 3 
2031 - 2035182 20