Retirement-Related Benefits (Tables)

3 Months Ended

Mar. 31, 2026

The following table provides the components of the cost/(income) for the company’s retirement-related benefit plans.


($ in millions)	U.S. Plans				Non-U.S. Plans
For the three months ended March 31:	2026		2025		2026		2025
Service cost	$	86	$	88	$	44	$	41
Interest cost (1)	180		187		290		251
Expected return on plan assets (1)	(266)		(268)		(363)		(345)
Amortization of prior service costs/(credits) (1)	—		—		16		5
Recognized actuarial losses (1)	122		70		76		81
Curtailments and settlements (1)	—		—		2		2
Multi-employer plans	—		—		3		3
Other costs/(credits) (1)	—		—		11		8
Total net periodic pension (income)/cost of defined benefit plans	$	122	$	77	$	78	$	47
Cost of defined contribution plans	15		14		103		96
Total defined benefit pension and defined contribution plans cost recognized in the Consolidated Income Statement	$	137	$	90	$	180	$	143

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

The following table provides the components of the cost for the company’s nonpension postretirement plans.


($ in millions)	U.S. Plan				Non-U.S. Plans
For the three months ended March 31:	2026		2025		2026		2025
Service cost	$	0	$	0	$	0	$	0
Interest cost (1)	25		28		12		10
Expected return on plan assets (1)	—		—		0		0
Amortization of prior service costs/(credits) (1)	(7)		(7)		0		0
Recognized actuarial losses (1)	1		—		0		0
Total nonpension postretirement plans cost recognized in the Consolidated Income Statement	$	19	$	22	$	12	$	11

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

The table below includes contributions to the following plans:


($ in millions)	Plan Contributions
For the three months ended March 31:	2026		2025
U.S. nonpension postretirement benefit plan	$	70	$	70
Non-U.S. DB and multi-employer plans (1)	19		1
Total plan contributions	$	90	$	70

(1)Amounts reported net of refunds.