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COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans
Information about net periodic benefit cost for the company-sponsored pension and postretirement defined benefit plans is as follows (in millions):
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242023202520242023202520242023
Net Periodic Benefit Cost:
Service cost$1,124 $1,240 $1,172 $17 $20 $20 $37 $42 $43 
Interest cost2,718 2,574 2,508 109 109 116 65 66 66 
Expected return on plan assets(3,130)(3,085)(2,967)(7)(4)(12)(82)(83)(84)
Amortization of prior service cost156 152 106 1 1 2 1 1 1 
Actuarial (gain) loss— 673 393 — — — — (8)(42)
Curtailment and settlement (gain) loss— — — — — — — — 8 
Net periodic benefit cost$868 $1,554 $1,212 $120 $126 $126 $21 $18 $(8)
Weighted Average Actuarial Assumptions Used Disclosure
The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost:
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242023202520242023202520242023
Service cost discount rate5.88 %5.42 %5.79 %6.18 %5.80 %6.06 %4.82 %4.59 %5.09 %
Interest cost discount rate5.88 %5.42 %5.79 %6.18 %5.80 %6.06 %4.69 %4.56 %5.02 %
Rate of compensation increase3.25 %3.25 %3.25 %N/AN/AN/A3.04 %3.19 %3.20 %
Expected return on plan assets7.65 %7.17 %7.07 %6.92 %6.36 %6.62 %4.63 %4.54 %5.13 %
Cash balance interest credit rate4.30 %3.83 %4.21 %N/AN/AN/A3.09 %3.31 %3.69 %
The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans:
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242025202420252024
Discount rate5.84 %5.88 %5.69 %6.18 %4.64 %4.45 %
Rate of compensation increase3.25 %3.25 %N/AN/A2.76 %3.04 %
Cash balance interest credit rate4.84 %4.30 %N/AN/A3.13 %3.09 %
Schedule of One Basis Point Change in Discount Rate on the Projected Benefit Obligation
As of December 31, 2025, the impact of each basis point change in the discount rate on the projected benefit obligation of our pension and postretirement medical benefit plans was as follows (in millions):
 Increase (Decrease) in the Projected Benefit Obligation
 Pension BenefitsPostretirement Medical Benefits
One basis point increase in discount rate$(58)$(1)
One basis point decrease in discount rate$61 $1 
Funded Status as of the Respective Measurement Dates in Each Year and the Amounts Recognized in Balance Sheet
The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31 (in millions):
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242025202420252024
Funded Status:
Fair value of plan assets$43,689 $41,499 $72 $119 $1,873 $1,778 
Benefit obligation(48,472)(46,559)(1,822)(1,850)(1,609)(1,500)
Funded status recognized as of December 31
$(4,783)$(5,060)$(1,750)$(1,731)$264 $278 
Funded Status Recognized in our Balance Sheets:
Other non-current assets$— $— $— $— $484 $480 
Other current liabilities(28)(27)(148)(100)(10)(7)
Pension and postretirement benefit obligations(4,755)(5,033)(1,602)(1,631)(210)(195)
Net liability as of December 31
$(4,783)$(5,060)$(1,750)$(1,731)$264 $278 
Amounts Recognized in AOCI (1):
Unrecognized net prior service cost$(1,211)$(1,251)$— $(1)$(4)$(5)
Unrecognized net actuarial gain (loss)(2,740)(2,686)48 131 91 107 
Gross unrecognized cost as of December 31
(3,951)(3,937)48 130 87 102 
Deferred tax asset at December 31958 956 (12)(32)(27)(32)
Net unrecognized cost as of December 31
$(2,993)$(2,981)$36 $98 $60 $70 
(1)    Accumulated Other Comprehensive Income (Loss)
Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets
As of December 31, 2025 and 2024, the projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions):
 Projected Benefit Obligation
Exceeds the Fair Value of Plan Assets		Accumulated Benefit Obligation
Exceeds the Fair Value of Plan Assets
2025202420252024
U.S. Pension Benefits:
Projected benefit obligation$48,472 $46,559 $48,472 $46,559 
Accumulated benefit obligation48,445 46,526 48,445 46,526 
Fair value of plan assets43,689 41,499 43,689 41,499 
International Pension Benefits:
Projected benefit obligation$379 $337 $318 $281 
Accumulated benefit obligation345 301 296 255 
Fair value of plan assets159 135 105 88 
Reconciliation of the Changes in the Plans' Benefit Obligations and Fair Value of Plan Assets
The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions):
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242025202420252024
Benefit Obligations:
Projected benefit obligation at beginning of year$46,559 $47,712 $1,850 $1,974 $1,500 $1,601 
Service cost1,124 1,240 17 20 37 42 
Interest cost2,718 2,574 109 109 65 66 
Gross benefits paid(2,678)(2,604)(241)(284)(64)(55)
Plan participants’ contributions— — — 39 4 4 
Plan amendments(1)
116 76 — — — — 
Actuarial (gain)/loss633 (2,438)87 (7)(42)(58)
Foreign currency exchange rate changes— — — — 108 (99)
Curtailments and settlements— — — — (2)(4)
Other— (1)— (1)3 3 
Projected benefit obligation at end of year$48,472 $46,559 $1,822 $1,850 $1,609 $1,500 
(1)    Plan amendments in 2025 were related to the collective bargaining agreement with the Independent Pilots Association. Plan amendments in 2024 were related to collective bargaining agreements with the Teamsters.
The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions):
 U.S. Pension BenefitsU.S. Postretirement
Medical Benefits		International
Pension Benefits
 202520242025202420252024
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year$41,499 $43,491 $119 $98 $1,778 $1,893 
Actual return (loss) on plan assets
3,708 (615)10 (2)25 41 
Employer contributions1,159 1,228 183 269 19 27 
Plan participants’ contributions— — — 39 4 4 
Gross benefits paid(2,678)(2,604)(241)(284)(64)(55)
Foreign currency exchange rate changes— — — — 114 (118)
Curtailments and settlements— — — — (2)(4)
Other1 (1)1 (1)(1)(10)
Fair value of plan assets at end of year$43,689 $41,499 $72 $119 $1,873 $1,778 
Fair Values of U.S. Pension and Postretirement Benefit Plan Assets by Asset Category as Well as the Percentage That Each Category Comprises of Total Plan Assets and the Respective Target Allocations
The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2025 and 2024 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations. The asset categories within equity securities, fixed income securities, and alternative and other investments in the table below have been collapsed from prior year presentation to align with the nature, characteristics, and type of underlying risk of those assets. There were no transfers between asset categories.
December 31, 2025
Total
Assets(1)
Level 1Level 2Level 3Percentage of Plan Assets
% Target
Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents(3)
$3,649 $3,427 $222 $— 8.3 %
1-7%
Equity securities6,842 3,834 3,008 — 15.6 %
15-45%
Fixed income securities21,080 13,218 7,805 57 48.2 %
30-73%
Alternative and other investments(1):
Hedge funds3,728 — 2,097 — 8.5 %
3-13%
Real estate2,067 — — — 4.7 %
3-15%
Private equity, private debt, and other investments6,378 — 117 — 14.6 %
5-29%
Total Alternative and other investments12,173 — 2,214 — 
Derivatives and other instruments, net:
Equity risk(43)(17)(26)— (0.1)%
Interest rate risk(9)(169)160 — — %
Other risk(2)
69 — 69 — 0.2 %
Total Derivatives and other instruments17 (186)203 — 
Total U.S. plan assets$43,761 $20,293 $13,452 $57 100.0 %
Asset Category (International Plans):
Cash and cash equivalents$131 $131 $— $— 7.0 %
1-10%
Equity securities179 28 151 — 9.5 %
1-10%
Fixed income securities1,259 254 1,005 — 67.2 %
50-75%
Alternative and other investments(1):
Real estate67 — 19 24 3.6 %
1-10%
Private equity, private debt, and other investments237 — 211 16 12.7 %
10-35%
Total International plan assets$1,873 $413 $1,386 $40 100.0 %
Total plan assets$45,634 $20,706 $14,838 $97 
(1)    Includes certain investments that are measured at NAV per share (or its equivalent).
(2)    Includes credit risk, foreign currency exchange risk and commodity risk.
(3)    Includes $1.6 billion of cash held as collateral for market exposures, which is not subject to the target allocations.
December 31, 2024
Total
Assets(1)
Level 1Level 2Level 3Percentage of
Plan Assets
% Target
Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents(3)
$5,716 $5,450 $266 $— 13.7 %
1-7%
Equity securities6,979 3,270 3,709 — 16.8 %
15-45%
Fixed income securities19,643 13,375 6,247 21 47.2 %
30-73%
Alternative and other investments(1):
Hedge funds2,034 — 538 — 4.9 %
3-13%
Real estate2,674 301 77 — 6.4 %
3-15%
Private equity, private debt, and other investments6,508 — 195 — 15.6 %
5-29%
Total Alternative and other investments11,216 301 810 — 
Derivative and other instruments, net:
Equity risk contracts(392)(99)(294)— (0.9)%
Interest rate risk contracts(1,619)(442)(1,177)— (3.9)%
Other risk(2)
75 2 73 — 0.2 %
Total Derivative and other instruments(1,936)(539)(1,398)— 
Total U.S. plan assets$41,618 $21,857 $9,634 $21 100.0 %
Asset Category (International Plans):
Cash and cash equivalents$127 $127 $— $— 7.1 %
1-10%
Equity securities165 23 142 — 9.3 %
1-10%
Fixed income securities1,202 243 959 — 67.6 %
50-75%
Alternative and other investments(1):
Real estate62 — 17 23 3.5 %
1-10%
Private equity, private debt, and other investments222 — 189 18 12.5 %
10-35%
Total International plan assets$1,778 $393 $1,307 $41 100.0 %
Total plan assets$43,396 $22,250 $10,941 $62 
(1)    Includes certain investments that are measured at NAV per share (or its equivalent).
(2)    Includes credit risk, foreign currency exchange risk and commodity risk.
(3)    $2.7 billion of cash held as collateral for market exposures, which is not subject to the target allocations.
Fair Value Measurement of Plan Assets Using Significant Unobservable Inputs (Level 3)
The following table presents the changes in the Level 3 instruments measured on a recurring basis for 2025 and 2024 (in millions):
Fixed Income Securities
Alternative and Other Investments
Total
Balance as of January 1, 2024
$— $80 $80 
Actual Return on Assets:
Assets held at end of year
(1)1 — 
Assets sold during the year
4 (12)(8)
Purchases38 — 38 
Sales(10)(28)(38)
Transfers Into (Out of) Level 3(10)— (10)
Balance as of December 31, 2024
$21 $41 $62 
Actual Return on Assets:
Assets held at end of year
— 2 2 
Assets sold during the year
2 — 2 
Purchases55 5 60 
Sales(6)(8)(14)
Transfers Into (Out of) Level 3(15)— (15)
Balance as of December 31, 2025
$57 $40 $97 
Expected Cash Flows for Pension and Postretirement Benefit Plans
Information about expected cash flows for our pension and postretirement medical benefit plans is as follows (in millions):
U.S.
Pension Benefits		U.S. Postretirement
Medical Benefits		International Pension Benefits
Expected Employer Contributions:
2026 to plan trust$1,080 $5 $8 
2026 to plan participants29 183 10 
Expected Benefit Payments:
2026$2,636 $196 $63 
20272,762 187 70 
20282,871 177 77 
20292,976 167 82 
20303,081 158 89 
2031-203516,847 693 524