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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Pension and other postretirement benefits  
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table summarizes the total accumulated benefit obligation (ABO), the ABO and the fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets and the PBO and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets:
 Qualified and Non-Qualified Pension Plans
 U.S. PlansU.K. Plans
In millions2025202420252024
Total ABO$3,264 $3,132 $1,431 $1,334 
Plans with ABO in excess of plan assets
ABO444 1,007 — — 
Fair value of plan assets6 510 — — 
Plans with PBO in excess of plan assets
PBO480 1,042 — — 
Fair value of plan assets6 510 — — 
Pension Plan  
Pension and other postretirement benefits  
Schedule of Net Funded Status The changes in the benefit obligations, the various plan assets, the funded status of the plans and the amounts recognized in our Consolidated Balance Sheets for our significant pension plans at December 31 were as follows:
 Qualified and Non-Qualified Pension Plans
 U.S. PlansU.K. Plans
In millions2025202420252024
Change in benefit obligation    
Benefit obligation at the beginning of the year$3,167 $3,381 $1,350 $1,525 
Service cost133 142 15 18 
Interest cost173 167 77 71 
Actuarial loss (gain)105 (163)4 (133)
Benefits paid from fund(247)(328)(98)(108)
Benefits paid directly by employer(31)(32)— — 
Foreign currency translation adjustments— — 100 (23)
Benefit obligation at end of year$3,300 $3,167 $1,448 $1,350 
Change in plan assets    
Fair value of plan assets at beginning of year$3,706 $3,826 $1,468 $1,720 
Actual return on plan assets330 178 19 (128)
Employer contributions— 30 19 9 
Benefits paid from fund(247)(328)(98)(108)
Foreign currency translation adjustments— — 110 (25)
Fair value of plan assets at end of year$3,789 $3,706 $1,518 $1,468 
Funded status (including unfunded plans) at end of year$489 $539 $70 $118 
Amounts recognized in consolidated balance sheets    
Pension assets$963 $1,071 $70 $118 
Accrued compensation, benefits and retirement costs(31)(29)— — 
Other liabilities(443)(503)— — 
Net amount recognized$489 $539 $70 $118 
Amounts recognized in accumulated other comprehensive loss    
Net actuarial loss$464 $429 $739 $691 
Prior service cost4 6 6 7 
Net amount recognized$468 $435 $745 $698 
Schedule of Net Benefit Costs
The following table presents the net periodic pension cost (income) under our plans for the years ended December 31:
 Qualified and Non-Qualified Pension Plans
 U.S. PlansU.K. Plans
In millions202520242023202520242023
Service cost$133 $142 $117 $15 $18 $17 
Interest cost173 167 168 77 71 70 
Expected return on plan assets(268)(290)(277)(91)(102)(105)
Amortization of prior service cost2 2 2 1 1 1 
Recognized net actuarial loss9 13 8 27 12 — 
Net periodic pension cost (income)$49 $34 $18 $29 $— $(17)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in benefit obligations and plan assets recognized in other comprehensive loss (income) for the years ended December 31 were as follows:
In millions202520242023
Amortization of prior service cost$(3)$(3)$(3)
Recognized net actuarial loss(36)(25)(8)
Incurred prior service cost— — 1 
Incurred actuarial loss119 46 432 
Total recognized in other comprehensive loss$80 $18 $422 
Total recognized in net periodic pension cost and other comprehensive loss$158 $52 $423 
Schedule of Assumptions Used
The table below presents various assumptions used in determining the PBO for each year and reflects weighted-average percentages for the various plans as follows:
 Qualified and Non-Qualified Pension Plans
 U.S. PlansU.K. Plans
 2025202420252024
Discount rate5.60 %5.69 %5.58 %5.62 %
Cash balance crediting rate4.54 %4.51 %— — 
Compensation increase rate5.37 %5.32 %3.50 %3.75 %
The table below presents various assumptions used in determining the net periodic pension cost and reflects weighted-average percentages for the various plans as follows:
 Qualified and Non-Qualified Pension Plans
 U.S. PlansU.K. Plans
 202520242023202520242023
Discount rate5.69 %5.15 %5.55 %5.62 %4.72 %4.99 %
Expected return on plan assets7.00 %7.25 %7.00 %5.00 %5.00 %5.00 %
Compensation increase rate5.32 %5.34 %5.35 %3.75 %3.75 %3.75 %
Schedule of Expected Benefit Payments The table below presents expected future benefit payments under our pension plans:
 Qualified and Non-Qualified Pension Plans
In millions202620272028202920302031 - 2035
Expected benefit payments$373 $377 $375 $379 $380 $1,920 
Other Postretirement Benefit Plan  
Pension and other postretirement benefits  
Schedule of Net Funded Status The changes in the benefit obligations, the funded status of the plans and the amounts recognized in our Consolidated Balance Sheets for our significant OPEB plans were as follows:
December 31,
In millions20252024
Change in benefit obligation  
Benefit obligation at the beginning of the year$120 $150 
Interest cost6 7 
Plan participants' contributions5 8 
Actuarial gain(13)(18)
Benefits paid directly by employer(10)(27)
Benefit obligation at end of year$108 $120 
Funded status at end of year$(108)$(120)
Amounts recognized in consolidated balance sheets  
Accrued compensation, benefits and retirement costs$(14)$(16)
Other liabilities(94)(104)
Net amount recognized$(108)$(120)
Amounts recognized in accumulated other comprehensive loss  
Net actuarial gain$(68)$(60)
Prior service credit(3)(3)
Net amount recognized$(71)$(63)
Schedule of Net Benefit Costs
The following table presents the net periodic OPEB cost under our plans:
Years ended December 31,
In millions202520242023
Interest cost$6 $7 $9 
Recognized net actuarial gain(5)(3)(2)
Net periodic OPEB cost$1 $4 $7 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in benefit obligations recognized in other comprehensive loss (income) for the years ended December 31 were as follows:
Years ended December 31,
In millions202520242023
Recognized net actuarial gain$5 $3 $2 
Incurred actuarial gain(13)(19)(2)
Total recognized in other comprehensive (income) loss$(8)$(16)$— 
Total recognized in net periodic OPEB cost and other comprehensive (income) loss$(7)$(12)$7 
Schedule of Assumptions Used
The table below presents assumptions used in determining the OPEB obligation for each year and reflects weighted-average percentages for our other OPEB plans as follows:
20252024
Discount rate5.22 %5.60 %
The table below presents assumptions used in determining the net periodic OPEB cost and reflects weighted-average percentages for the various plans as follows:
202520242023
Discount rate5.60 %5.19 %5.59 %
Schedule of Expected Benefit Payments
The table below presents expected benefit payments under our OPEB plans:
In millions202620272028202920302031 - 2035
Expected benefit payments$14 $13 $13 $12 $11 $41 
UNITED STATES  
Pension and other postretirement benefits  
Schedule of Allocation of Plan Assets
To achieve these objectives, we established the following targets:
Asset ClassPlan Target
U.S. equities10 %
Non-U.S. equities2 %
Global equities13 %
Total equities25 %
Real assets7 %
Private equity/venture capital5 %
Opportunistic credit3 %
Fixed income60 %
Total100 %
Fair Value, Assets Measured on Recurring Basis
The fair values of U.S. pension plan assets by asset category were as follows:
 Fair Value Measurements at December 31, 2025
In millionsQuoted prices in active
markets for identical assets
(Level 1)		Significant other
observable inputs
(Level 2)		Significant
unobservable inputs
(Level 3)		Total
Equities    
U.S.$68 $— $— $68 
Non-U.S.37 — — 37 
Fixed income
Government debt— 57 — 57 
Corporate debt
U.S.— 406 — 406 
Non-U.S.— 23 — 23 
Asset/mortgaged backed securities— 3 — 3 
Net cash equivalents (1)
258 — — 258 
Private markets and real assets (2)
— — 462 462 
Net plan assets subject to leveling$363 $489 $462 $1,314 
Pending trade/purchases/sales   (1)
Accruals (3)
   7 
Investments measured at net asset value2,469 
Net plan assets   $3,789 
 Fair Value Measurements at December 31, 2024
In millionsQuoted prices in active
markets for identical assets
(Level 1)		Significant other
observable inputs
(Level 2)		Significant
unobservable inputs
(Level 3)		Total
Equities    
U.S.$168 $— $— $168 
Non-U.S.31 — — 31 
Fixed income
Government debt— 105 — 105 
Corporate debt
U.S.— 600 — 600 
Non-U.S.— 36 — 36 
Asset/mortgaged backed securities— 13 — 13 
Net cash equivalents (1)
388 — — 388 
Private markets and real assets (2)
— — 500 500 
Net plan assets subject to leveling$587 $754 $500 $1,841 
Pending trade/purchases/sales   (2)
Accruals (3)
   12 
Investments measured at net asset value1,855 
Net plan assets   $3,706 
(1) Cash equivalents included commercial paper, short-term government/agency, mortgage and credit instruments.
(2) The instruments in private markets and real assets, for which quoted market prices are not available, are valued at their estimated fair value as determined by applicable investment managers or by audited financial statements of the funds. Private markets include equity, venture capital and private credit instruments and funds. Real assets include real estate and infrastructure.
(3) Accruals include interest or dividends that were not settled at December 31.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The reconciliation of Level 3 assets was as follows:
 Fair Value Measurements
Using Significant Unobservable Inputs (Level 3)
In millionsPrivate MarketsReal AssetsTotal
Balance at December 31, 2023$537 $67 $604 
Actual return on plan assets 
Unrealized losses on assets still held at the reporting date(3)(6)(9)
Purchases, sales and settlements, net(93)(2)(95)
Balance at December 31, 2024441 59 500 
Actual return on plan assets   
Unrealized gains on assets still held at the reporting date24 4 28 
Purchases, sales and settlements, net(63)(3)(66)
Balance at December 31, 2025$402 $60 $462 
UNITED KINGDOM  
Pension and other postretirement benefits  
Schedule of Allocation of Plan Assets To achieve these objectives, we established the following targets:
Asset ClassPlan Target
Equities10 %
Private equity7 %
Fixed income/insurance annuity81 %
Cash2 %
Total100 %
Fair Value, Assets Measured on Recurring Basis
The fair values of U.K. pension plan assets by asset category were as follows:
 Fair Value Measurements at December 31, 2025
In millionsQuoted prices in active
markets for identical assets
(Level 1)		Significant other
observable inputs
(Level 2)		Significant
unobservable inputs
(Level 3)		Total
Fixed income 
Government debt$— $960 $— $960 
Corporate debt
U.S.— 43 — 43 
Non-U.S.— 82 — 82 
Net cash equivalents (1)
26 63 — 89 
Derivative instruments (2)
— (2)— (2)
Repurchase agreements— (666)— (666)
Insurance annuity— — 698 698 
Private markets and real assets (3)
— — 99 99 
Net plan assets subject to leveling$26 $480 $797 $1,303 
Accruals (4)
   3 
Investments measured at net asset value212 
Net plan assets   $1,518 
 Fair Value Measurements at December 31, 2024
In millionsQuoted prices in active
markets for identical assets
(Level 1)		Significant other
observable inputs
(Level 2)		Significant
unobservable inputs
(Level 3)		Total
Fixed income
Government debt$— $204 $— $204 
Corporate debt
U.S.— 32 — 32 
Non-U.S.— 93 — 93 
Net cash equivalents (1)
11 14 — 25 
Insurance annuity— — 383 383 
Private markets and real assets (3)
— — 102 102 
Net plan assets subject to leveling$11 $343 $485 $839 
Pending trade/purchases/sales   1 
Accruals (4)
   2 
Investments measured at net asset value626 
Net plan assets   $1,468 
(1) Cash equivalents include commercial paper, short-term government/agency, mortgage and credit instruments.
(2) Derivative instruments include central counterparty swaps.
(3) The instruments in private markets and real assets, for which quoted market prices are not available, are valued at their estimated fair value as determined by applicable investment managers or by audited financial statements of the funds. Private markets include equity, venture capital and private credit instruments and funds. Real assets include real estate and infrastructure.
(4) Accruals include interest or dividends that were not settled at December 31.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The reconciliation of Level 3 assets was as follows:
 Fair Value Measurements
Using Significant Unobservable Inputs (Level 3)
In millionsInsurance AnnuityReal AssetsPrivate MarketsTotal
Balance at December 31, 2023$436 $7 $96 $539 
Actual return on plan assets
Unrealized (losses) gains on assets still held at the reporting date(53)— 1 (52)
Purchases, sales and settlements, net— (1)(1)(2)
Balance at December 31, 2024383 6 96 485 
Actual return on plan assets    
Unrealized losses on assets still held at the reporting date(5)(1)— (6)
Purchases, sales and settlements, net320 — (2)318 
Balance at December 31, 2025$698 $5 $94 $797