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Benefit Obligations
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Benefit Obligations Benefit Obligations
Pension Obligations
The Company sponsors defined benefit pension plans in North America, Europe and Asia. Independent trusts or insurance companies administer the majority of these plans. Pension obligations are established for benefits payable in the form of retirement, disability and surviving dependent pensions. The commitments result from participation in defined contribution and defined benefit plans, primarily in the U.S. Benefits are dependent on years of service and the employee's compensation. Supplemental retirement benefits provided to certain employees are nonqualified for U.S. tax purposes. Separate nonqualified trusts have been established for certain U.S. nonqualified plan obligations. Pension costs under the Company's retirement plans are actuarially determined.
Other Postretirement Obligations
Certain retired employees receive postretirement health care and life insurance benefits under plans sponsored by the Company, which has the right to modify or terminate these plans at any time. The cost for coverage is shared between the Company and the retiree. The cost of providing retiree health care and life insurance benefits is actuarially determined and accrued over the service period of the active employee group. The Company's policy is to fund benefits as claims and premiums are paid.
Defined Contribution Plans
The Company sponsors various defined contribution plans in North America, Europe and Asia covering certain employees. Employees may contribute to these plans and the Company will match these contributions in varying amounts. The Company's matching contribution to the defined contribution plans are based on specified percentages of employee contributions.
The amount of costs recognized for the Company's defined contribution plans are as follows:
Year Ended December 31,
202520242023
(In $ millions)
Defined contribution plans73 79 83 
Summarized information on the Company's pension and postretirement benefit plans is as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2025202420252024
(In $ millions)
Change in Projected Benefit Obligation
Projected benefit obligation as of beginning of period2,738 2,923 34 40 
Service cost14 13 1 1 
Interest cost121 125 2 1 
Participant contributions3 — — — 
Plan amendments(1)
(9)— — — 
Net actuarial (gain) loss
20 (31)1 (1)
Settlements(17)(9)— — 
Benefits paid(229)(227)(5)(4)
Curtailments(3)(7)— (2)
Special termination benefits— 1 — — 
Exchange rate changes84 (50)2 (1)
Projected benefit obligation as of end of period2,722 2,738 35 34 
Change in Plan Assets
Fair value of plan assets as of beginning of period2,493 2,652 — — 
Actual return on plan assets194 66 — — 
Employer contributions49 50 5 4 
Participant contributions3 — — — 
Settlements(17)(9)— — 
Benefits paid(2)
(229)(227)(5)(4)
Exchange rate changes59 (39)— — 
Fair value of plan assets as of end of period2,552 2,493 — — 
Funded status as of end of period(170)(245)(35)(34)
Amounts Recognized in the Consolidated Balance Sheets Consist of:
Noncurrent Other assets159 135 — — 
Current Other liabilities(22)(22)(3)(3)
Benefit obligations(307)(358)(32)(31)
Net amount recognized(170)(245)(35)(34)
Amounts Recognized in Accumulated Other Comprehensive Income Consist of:
Net actuarial (gain) loss(3)
24 28 — — 
Prior service (benefit) cost(9)— (1)(1)
Net amount recognized15 28 (1)(1)
______________________________
(1)The Company's U.S. qualified defined benefit pension plan was amended effective January 1, 2026 resulting in a gain to be amortized into net periodic benefit cost ratably over the next five years.
(2)Includes benefit payments to nonqualified pension plans of $18 million and $19 million as of December 31, 2025 and 2024, respectively.
(3)Relates to the pension plans of the Company's equity method investments.
The percentage of U.S. and international projected benefit obligation at the end of the period is as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2025202420252024
(In percentages)
U.S. plans70 71 38 38 
International plans30 29 62 62 
Total100 100 100 100 
The percentage of U.S. and international fair value of plan assets at the end of the period is as follows:
Pension Benefits
As of December 31,
20252024
(In percentages)
U.S. plans72 74 
International plans28 26 
Total100 100 
Pension plans with projected benefit obligations in excess of plan assets are as follows:
As of December 31,
20252024
(In $ millions)
Projected benefit obligation726 711 
Fair value of plan assets397 332 
Pension plans with accumulated benefit obligations in excess of plan assets are as follows:
As of December 31,
20252024
(In $ millions)
Accumulated benefit obligation707 691 
Fair value of plan assets395 332 
Other postretirement plans with accumulated postretirement benefit obligations in excess of plan assets are as follows:
As of December 31,
20252024
(In $ millions)
Accumulated postretirement benefit obligation35 34 
The accumulated benefit obligation for all defined benefit pension plans is as follows:
As of December 31,
20252024
(In $ millions)
Accumulated benefit obligation2,695 2,706 
The components of net periodic benefit cost are as follows:
Pension Benefits
Year Ended December 31,		Postretirement Benefits
Year Ended December 31,
202520242023202520242023
(In $ millions)
Service cost14 13 11 1 1 — 
Interest cost121 125 132 2 1 2 
Expected return on plan assets(130)(135)(132)— — — 
Recognized actuarial (gain) loss(46)38 63 1 (1)3 
Curtailment (gain) loss(3)(7)— — (2)— 
Settlement (gain) loss— — 1 — — — 
Special termination benefit— 1 — — — — 
Total(44)35 75 4 (1)5 
The Company maintains nonqualified pension plans funded with nonqualified trusts for certain U.S. employees as follows:
As of December 31,
20252024
(In $ millions)
Nonqualified Trust Assets
Marketable securities7 6 
Noncurrent Other assets, consisting of insurance contracts18 18 
Nonqualified Pension Obligations
Current Other liabilities17 18 
Benefit obligations130 136 
(Income) expense relating to the nonqualified pension plans included in net periodic benefit cost, excluding returns on the assets held by the nonqualified trusts, is as follows:
Year Ended December 31,
202520242023
(In $ millions)
Total11 6 16 
Valuation
The principal weighted average assumptions used to determine benefit obligation are as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2025202420252024
(In percentages)
Discount Rate Obligations
U.S. plans5.2 5.6 5.1 5.5 
International plans3.7 3.1 4.9 4.4 
Combined4.7 4.8 4.9 4.8 
Rate of Compensation Increase(1)
International plans2.9 3.1 
_____________________________
(1)Benefits under the Company's U.S. qualified defined benefit pension plan are frozen and the plan is closed to new participants.
The principal weighted average assumptions used to determine net periodic benefit cost are as follows:
Pension Benefits
Year Ended December 31,		Postretirement Benefits
Year Ended December 31,
202520242023202520242023
(In percentages)
Discount Rate Obligations
U.S. plans5.6 5.1 5.5 5.5 5.1 5.4 
International plans3.1 3.1 3.4 4.4 4.1 4.7 
Combined4.8 4.5 4.9 4.8 4.5 5.1 
Discount Rate Service Cost
U.S. plans(1)
N/AN/AN/A6.2 5.7 5.9 
International plans2.5 2.9 3.5 4.3 3.7 4.4 
Combined2.5 2.9 3.5 4.3 3.7 4.5 
Discount Rate Interest Cost
U.S. plans5.3 5.1 5.4 5.2 5.1 5.3 
International plans2.9 3.0 3.4 4.1 4.1 4.7 
Combined4.6 4.5 4.8 4.5 4.4 5.0 
Expected Return on Plan Assets
U.S. plans5.5 5.5 5.5 
International plans4.8 4.8 4.4 
Combined5.3 5.3 5.2 
Rate of Compensation Increase(1)
International plans3.1 2.8 2.8 
Interest Crediting Rate
U.S. plans4.5 4.1 4.3 
International plans1.3 1.4 1.0 
Combined4.3 4.0 4.3 
_____________________________
(1)Benefits under the Company's U.S. qualified defined benefit pension plan are frozen and the plan is closed to new participants.
The Company's health care cost trend assumptions for U.S. postretirement medical plan's net periodic benefit cost are as follows:
As of December 31,
202520242023
(In percentages, except year)
Health care cost trend rate assumed for next year7.5 7.0 7.3 
Health care cost trend ultimate rate5.5 5.0 5.0 
Health care cost trend ultimate rate year203320322032
Plan Assets
The weighted average target asset allocations for the Company's pension plans in 2025 are as follows:
U.S.
Plans		International
Plans
(In percentages)
Bonds - domestic to plans84 34 
Equities - domestic to plans8 14 
Equities - international to plans8 19 
Other— 33 
Total100 100 
On average, the actual return on the U.S. qualified defined pension plans' assets over the long-term (20 years) has exceeded the expected long-term rate of asset return assumption. The U.S. qualified defined benefit plans' actual return on assets for the year ended December 31, 2025 was 9.5% versus an expected long-term rate of asset return assumption of 5.5%. The expected long-term rate of asset return assumption used to determine 2026 net periodic benefit cost is 5.5% for the U.S. qualified defined benefit plans.
The Company's defined benefit plan assets are measured at fair value on a recurring basis (Note 2) as follows:
Cash and Cash Equivalents: Foreign and domestic currencies as well as short-term securities are valued at cost plus accrued interest, which approximates fair value.
Equity securities, treasuries and corporate debt: Valued at the closing price reported on the active market in which the individual securities are traded. Automated quotes are provided by multiple pricing services and validated by the plan custodian. These securities are traded on exchanges as well as in the over the counter market.
Derivatives: Derivative financial instruments are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and Level 2 fair value measurement inputs such as interest rates and foreign currency exchange rates. These market inputs are utilized in the discounted cash flow calculation considering the instrument's term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation for interest rate swaps, foreign currency forwards and swaps, and options are observable in the active markets and are classified as Level 2 in the fair value measurement hierarchy.
Mortgage backed securities: Fair value is estimated based on valuations obtained from third-party pricing services for identical or comparable assets. Mortgage backed securities are traded in the over the counter broker/dealer market.
Insurance contracts: Valued at contributions made, plus earnings, less participant withdrawals and administrative expenses, which approximates fair value.
Short-term investment funds: Composed of various funds whose portfolio is comprised of foreign and domestic currencies as well as short-term securities. Investments are valued at the net asset value of units held by the plan at year-end.
Registered Investment Companies: Composed of various mutual funds and other investment companies whose diversified portfolio is comprised of foreign and domestic equities, fixed income securities and short-term investments. Investments are valued at the net asset value of units held by the plan at year-end.
Pooled-type investments: Composed of various funds whose diversified portfolio is comprised of foreign and domestic equities, fixed income securities, and short-term investments. Investments are valued at the net asset value of units held by the plan at year-end.
Other: Composed of real estate investment trust common stock valued at closing price as reported on the active market in which the individual securities are traded.
Fair Value Measurement
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Total
As of December 31,
202520242025202420252024
(In $ millions)
Assets
Cash and cash equivalents14 12 — — 14 12 
Derivatives
Swaps— — 28 13 28 13 
Equity securities
U.S. companies98 26 — — 98 26 
International companies111 126 — — 111 126 
Fixed income
Corporate debt— — 630 624 630 624 
Treasuries, other debt54 47 1,035 1,008 1,089 1,055 
Mortgage backed securities— — 16 14 16 14 
Insurance contracts— — 118 109 118 109 
Other3 3 21 21 24 24 
Total investments, at fair value(1)
280 214 1,848 1,789 2,128 2,003 
Liabilities
Derivatives
Swaps— — 28 13 28 13 
Total liabilities— — 28 13 28 13 
Total net assets(2)
280 214 1,820 1,776 2,100 1,990 
______________________________
(1)The fair value of certain investments is measured using NAV per share. These investments are excluded from the fair value hierarchy as follows:
Year Ended December 31,
20252024
(In $ millions)
Pooled-type investments389 431 
Registered investment companies29 34 
Short-term investment funds24 35 
(2)Total net assets excludes non-financial plan receivables and payables of $11 million and $1 million, respectively, as of December 31, 2025 and $20 million and $17 million, respectively, as of December 31, 2024. Non-financial items include due to/from broker, interest receivables and accrued expenses.
Benefit obligation funding is as follows:
Total
Expected
2026
(In $ millions)
Cash contributions to defined benefit pension plans33 
Benefit payments to nonqualified pension plans17 
Benefit payments to other postretirement benefit plans3 
The Company's estimates of its U.S. defined benefit pension plan contributions reflect the provisions of the Pension Protection Act of 2006.
Pension and postretirement benefits expected to be paid are as follows:
As of December 31, 2025
Pension
Benefit
Payments(1)
Company Portion
of Postretirement
Benefit Cost(2)
(In $ millions)
2026276 3 
2027235 3 
2028232 3 
2029229 2 
2030219 2 
2031-2035984 11 
______________________________
(1)Payments are expected to be made primarily from plan assets.
(2)Payments are expected to be made primarily from Company assets.