Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following (in millions):

	December 31,
	2025		2024
Current portion of long-term debt	$	795	$	326
Short-term borrowings, average rate 3.25%	9
Current portion of long-term debt and short-term borrowings	$	804	$	326
Long-term debt
Debentures, 6.85%, due 2029	$	150	$	156
Debentures, 7.25%, due 2036	249		249
Debentures, 4.70%, due 2037	297		297
Debentures, 5.75%, due 2040	401		397
Debentures, 4.75%, due 2042	497		497
Debentures, 5.35%, due 2048	545		545
Debentures, 3.90%, due 2049	396		396
Debentures, 4.375%, due 2057	744		743
Debentures, 5.85%, due 2068	297		297
Debentures, 5.45%, due 2079	1,087		1,087
Yen-denominated debentures, 0.722%, due 2025			64
Yen-denominated debentures, 0.992%, due 2027	237		236
Yen-denominated debentures, 1.043%, due 2028	163		163
Yen-denominated debentures, 1.219%, due 2030	159		159
Yen-denominated debentures, 1.153%, due 2031	199		198
Yen-denominated debentures, 1.583%, due 2037	63		63
Yen-denominated debentures, 1.513%, due 2039	38		37
Euro-denominated notes, 3.875%, due 2026	352		311
Euro-denominated notes, 4.125%, due 2031	642		568
Financing Leases, average discount rate 5.86%, due through 2045 (Note 8)	1,232		174
Other, average rate 3.86%, due through 2042	677		574
Total long-term debt, including current portion	8,425		7,211
Less current portion of long-term debt	795		326
Long-term debt	$	7,630	$	6,885

Schedule of Debt Maturities

The following table presents debt maturities by year as of December 31, 2025 (in millions) (1):

2026		2027		2028		2029		2030		Thereafter
$	804	$	401	$	296	$	302	$	298	$	6,379

(1)Excludes impact of bond discounts and deferred expenses and includes obligations relating to finance leases that have commenced. For the estimated undiscounted lease payments associated with leases entered into but not yet commenced, refer to Note 8 (Leases) for additional information.