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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Projected Benefit Obligations, Plan Assets and Funded Status
The projected benefit obligations, plan assets and funded status of our pension plans were:
 U.S. PlansNon-U.S. Plans
 2025202420252024
 (in millions)
Projected benefit obligation at January 1$1,183 $1,206 $6,753 $7,404 
Service cost62 59 
Interest cost37 60 287 283 
Benefits paid(32)(41)(476)(446)
Settlements paid(877)(48)(279)(1)
Actuarial (gains)/losses
(7)(278)(271)
Currency— — 645 (312)
Other— — 29 37 
Projected benefit obligation at December 31307 1,183 6,743 6,753 
Fair value of plan assets at January 11,200 1,277 7,297 7,907 
Actual return on plan assets51 192 42 
Contributions10 101 109 
Benefits paid(32)(41)(476)(446)
Settlements paid(877)(48)(279)(1)
Currency— — 690 (324)
Other(23)— (37)10 
Fair value of plan assets at December 31329 1,200 7,488 7,297 
Net pension assets at December 31$22 $17 $745 $544 
The changes in and the amount of the accrued benefit obligation of U.S. and non-U.S. plans were:
 As of December 31,
 20252024
 (in millions)
Accrued benefit obligation at January 1$183 $205 
Service cost
Interest cost10 10 
Benefits paid(15)(17)
Plan amendments(33)— 
Currency(7)
Actuarial losses/(gains)
(9)
Accrued benefit obligation at December 31155 183 
Fair value of plan assets at January 1
74 70 
Employer Contributions10 14 
Benefit Payments(15)(17)
Actual Return on Assets
Fair value of plan assets at December 3176 74 
  Net postretirement plan liabilities at December 31
$79 $109 
Schedule of Net Pension Plan Asset (Liability)
The combined U.S. and non-U.S. pension plans resulted in a net pension asset of $767 million as of December 31, 2025 and a net pension asset of $561 million as of December 31, 2024. We recognized these amounts in our consolidated balance sheets as follows:
 As of December 31,
 20252024
 (in millions)
Prepaid pension assets$1,220 $987 
Other current liabilities(31)(35)
Accrued pension costs(422)(391)
$767 $561 
Schedule of Underfunded Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets
Certain of our U.S. and non-U.S. plans are underfunded with accumulated benefit obligations in excess of plan assets. For these plans, the projected benefit obligations, accumulated benefit obligations and the fair value of plan assets were:
 U.S. PlansNon-U.S. Plans
 As of December 31,As of December 31,
 2025202420252024
 (in millions)
Projected benefit obligation$16 $24 $581 $557 
Accumulated benefit obligation16 24 536 514 
Fair value of plan assets150 157 
Schedule of Weighted-Average Assumptions
We used the following weighted-average assumptions to determine our benefit obligations under the pension plans:
 U.S. PlansNon-U.S. Plans
 As of December 31,As of December 31,
 2025202420252024
Discount rate5.48 %5.18 %4.59 %4.45 %
Rate of compensation increase4.00 %4.00 %3.08 %3.10 %
We used the following weighted-average assumptions to determine our net periodic pension cost:
 U.S. PlansNon-U.S. Plans
 For the Years Ended December 31,For the Years Ended December 31,
 202520242023202520242023
Discount rate5.18 %5.22 %5.55 %4.45 %4.03 %4.51 %
Expected rate of return on plan assets
5.43 %6.25 %6.25 %5.93 %5.54 %5.41 %
Rate of compensation increase4.00 %4.00 %4.00 %3.10 %3.20 %3.22 %
We used the following weighted-average assumptions to determine our postretirement benefit obligations:
 U.S. PlansNon-U.S. Plans
 As of December 31,As of December 31,
 2025202420252024
Discount rate5.55 %5.70 %5.98 %5.77 %
Health care cost trend rate assumed for next year
7.00 %6.50 %4.98 %5.04 %
Ultimate health care cost trend rate
5.00 %5.00 %4.60 %4.64 %
Year that the rate reaches the ultimate trend rate2034203120402040
We used the following weighted-average assumptions to determine our net periodic postretirement health care cost:
 U.S. PlansNon-U.S. Plans
 For the Years Ended December 31,For the Years Ended December 31,
 202520242023202520242023
Discount rate5.70%5.20%5.53%5.77%5.72%6.07%
Expected rate of return
on plan assets
7.50%7.25%
Health care cost trend rate7.00%6.50%7.00%4.98%5.04%5.98%
Schedule of Components of Net Periodic Pension Cost
Net periodic pension cost consisted of the following:
 U.S. PlansNon-U.S. Plans
 For the Years Ended December 31,For the Years Ended December 31,
 202520242023202520242023
 (in millions)
Service cost$$$$62 $59 $54 
Interest cost37 60 64 287 283 303 
Expected return on plan assets(50)(89)(99)(444)(428)(403)
Amortization of net loss and prior service cost
73 64 41 
Settlement losses and other expenses293 14 17 55 — 
Net periodic pension (benefit)/cost
$286 $(11)$(14)$33 $(22)$(4)
Schedule of Fair Value of Pension Plan Assets
The fair value of pension plan assets was determined using the following fair value measurements:
 As of December 31, 2025
Asset CategoryTotal Fair
Value
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
 (in millions)
U.S. equity securities$$$— $— 
Pooled funds - equity securities853 758 95 — 
Total equity securities854 759 95 — 
Government bonds1,910 77 1,833 — 
Pooled funds - fixed-income securities1,160 1,021 139 — 
Corporate bonds and fixed-income securities
686 289 397 — 
Buy-in annuity contracts and other
1,154 — — 1,154 
Total fixed-income securities4,910 1,387 2,369 1,154 
Real estate274 210 — 64 
Private equity— — 
Cash and other
80 74 — 
Total assets in the fair value hierarchy$6,121 $2,430 $2,470 $1,221 
Investments measured at net asset value1,590 
Total investments at fair value$7,711 
 As of December 31, 2024
Asset CategoryTotal Fair
Value
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
 (in millions)
U.S. equity securities$$$— $— 
Pooled funds - equity securities833 751 82 — 
Total equity securities834 752 82 — 
Government bonds1,854 70 1,784 — 
Pooled funds - fixed-income securities945 825 120 — 
Corporate bonds and fixed-income securities
563 243 320 — 
Buy-in annuity contracts and other
2,082 — — 2,082 
Total fixed-income securities5,444 1,138 2,224 2,082 
Real estate222 159 — 63 
Private equity— — 
Cash and other
87 77 
Total assets in the fair value hierarchy$6,590 $2,126 $2,315 $2,149 
Investments measured at net asset value1,811 
Total investments at fair value$8,401 
The percentage of fair value of pension plan assets was:
 U.S. PlansNon-U.S. Plans
 As of December 31,As of December 31,
Asset Category2025202420252024
Equity securities19%4%14%14%
Fixed-income securities70%21%64%64%
Real estate5%4%
Buy-in annuity contracts
75%16%17%
Cash11%1%1%
Total100%100%100%100%
Schedule of Changes in Level 3 Plan Assets
Changes in our Level 3 plan assets included:
Asset CategoryJanuary 1,
2025
Balance
Net Realized
and Unrealized
Gains/
(Losses)
Net Purchases,
Issuances and
Settlements
Net Transfers
Into/(Out of)
Level 3
Currency
Impact
December 31,
2025
Balance
 (in millions)
Buy-in annuity contracts and other
$2,082 $(12)$(1,005)$— $89 $1,154 
Real estate63 — — — 64 
Private equity and other— (1)— — 
Total Level 3 investments$2,149 $(11)$(1,006)$— $89 $1,221 
Asset CategoryJanuary 1,
2024
Balance
Net Realized
and Unrealized
Gains/
(Losses)
Net Purchases,
Issuances and
Settlements
Net Transfers
Into/(Out of)
Level 3
Currency
Impact
December 31,
2024
Balance
 (in millions)
Buy-in annuity contracts and other
$1,471 $(62)$702 $— $(29)$2,082 
Real estate62 — — — 63 
Private equity
— — — 
Total Level 3 investments$1,536 $(62)$702 $— $(27)$2,149 
Schedule of Estimated Future Benefit Payments
The estimated future benefit payments from our pension plans at December 31, 2025 were (in millions):
 202620272028202920302031-2035
U.S. Plans$35$18$19$19$20$106
Non-U.S. Plans4544364384464502,281
Our estimated future benefit payments for our postretirement health care plans at December 31, 2025 were (in millions):
 202620272028202920302031-2035
U.S. Plans$9$4$4$4$4$24
Non-U.S. Plans5555527
Schedule of Changes in Accrued Benefit Obligation of Postemployment Plans
Our postemployment plans are not funded. The changes in and the amount of the accrued benefit obligation were:
 As of December 31,
 20252024
 (in millions)
Accrued benefit obligation at January 1$93 $92 
Service cost
Interest cost
Benefits paid(27)(21)
Actuarial (gains)/losses
(5)
Accrued benefit obligation at December 31$78 $93