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Defined Severance Benefits
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Defined Severance Benefits Defined Severance Benefits
Changes in defined severance benefits obligation were as follows:
(in millions)
20252024
Beginning balance, January 1$491 $396 
Current service cost220 166 
Interest cost17 16 
Actuarial (gains) losses(6)52 
Payments from plans(102)(79)
Cumulative effects of foreign currency translation11 (60)
Ending balance, December 31$631 $491 
Current$146 $96 
Noncurrent$485 $395 
The accumulated benefit obligation for all defined severance benefits was $449 million and $348 million as of December 31, 2025 and 2024, respectively.
Net periodic cost consists of the following:
(in millions)
202520242023
Current service costs$220 $166 $141 
Interest cost17 16 14 
Amortization of:
Prior service cost— 2 3 
Net actuarial loss9 3 1 
Net periodic benefit cost$246 $187 $159 
The principal actuarial assumptions used to determine defined severance benefits obligation were as follows:
December 31, 2025December 31, 2024
Discount rates3.90%–4.60%3.50%–3.90%
Salary growth rates5.00%–7.00%5.00%–7.00%
The principal actuarial assumptions used to determine the net periodic cost were as follows:
202520242023
Discount rates3.50%–3.90%4.30%–4.80%5.10%–5.30%
Salary growth rates5.00%–7.00%5.00%–7.00%5.00%–8.00%
Estimated future benefit payments as of December 31, 2025 was as follows:
(in millions)
Less than 1 yearBetween 1-2 yearsBetween 2-5 yearsOver 5 yearsTotal
Defined severance benefits$149 $142 $358 $514 $1,163 
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