Equity Activity

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Equity Activity

Equity Activity:

Reclassifications and Taxes Related to Items of Other Comprehensive Income

($ in millions)	Before Tax Amount		Tax (Expense)/ Benefit		Net of Tax Amount
For the three months ended June 30, 2026:
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	(9)	$	(42)	$	(51)
Net unrealized gains/(losses) on available-for-sale securities	$	0	$	0	$	0
Unrealized gains/(losses) on cash flow hedges:
Unrealized gains/(losses) arising during the period	$	119	$	(31)	$	87
Reclassification of (gains)/losses to:
Cost of services	22		(5)		17
Cost of sales	(8)		3		(6)
Cost of financing	1		0		1
SG&A expense	(4)		1		(3)
Other (income) and expense	80		(20)		60
Interest expense	5		(1)		4
Total unrealized gains/(losses) on cash flow hedges	$	215	$	(54)	$	161
Retirement-related benefit plans: (1)
Prior service costs/(credits)	$	—	$	—	$	—
Net gains/(losses) arising during the period	0		—		0
Curtailments and settlements	3		(1)		2
Amortization of prior service costs/(credits)	9		(2)		7
Amortization of net (gains)/losses	197		(51)		145
Total retirement-related benefit plans	$	208	$	(54)	$	154
Other comprehensive income/(loss)	$	414	$	(150)	$	263

(1)These accumulated other comprehensive income (AOCI) components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.

Reclassifications and Taxes Related to Items of Other Comprehensive Income

($ in millions)	Before Tax Amount		Tax (Expense)/ Benefit		Net of Tax Amount
For the three months ended June 30, 2025:
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	(613)	$	399	$	(215)
Net unrealized gains/(losses) on available-for-sale securities	$	(5)	$	1	$	(4)
Unrealized gains/(losses) on cash flow hedges:
Unrealized gains/(losses) arising during the period	$	(82)	$	24	$	(59)
Reclassification of (gains)/losses to:
Cost of services	4		(1)		3
Cost of sales	5		(2)		4
Cost of financing	1		0		1
SG&A expense	2		(1)		1
Other (income) and expense	(436)		110		(327)
Interest expense	6		(1)		4
Total unrealized gains/(losses) on cash flow hedges	$	(501)	$	128	$	(373)
Retirement-related benefit plans: (1)
Prior service costs/(credits)	$	0	$	0	$	0
Net gains/(losses) arising during the period	0		8		8
Curtailments and settlements	5		(2)		3
Amortization of prior service costs/(credits)	(2)		1		(1)
Amortization of net (gains)/losses	157		(42)		115
Total retirement-related benefit plans	$	160	$	(35)	$	125
Other comprehensive income/(loss)	$	(959)	$	493	$	(466)

(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.

Reclassifications and Taxes Related to Items of Other Comprehensive Income

($ in millions)	Before Tax Amount		Tax (Expense)/ Benefit		Net of Tax Amount
For the six months ended June 30, 2026:
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	127	$	(158)	$	(31)
Net unrealized gains/(losses) on available-for-sale securities	$	0	$	0	$	0
Unrealized gains/(losses) on cash flow hedges:
Unrealized gains/(losses) arising during the period	$	(56)	$	10	$	(46)
Reclassification of (gains)/losses to:
Cost of services	37		(9)		28
Cost of sales	(9)		4		(6)
Cost of financing	2		(1)		2
SG&A expense	(3)		1		(2)
Other (income) and expense	400		(100)		300
Interest expense	11		(3)		8
Total unrealized gains/(losses) on cash flow hedges	$	382	$	(97)	$	285
Retirement-related benefit plans: (1)
Prior service costs/(credits)	$	—	$	—	$	—
Net gains/(losses) arising during the period	1		0		1
Curtailments and settlements	4		(1)		3
Amortization of prior service costs/(credits)	18		(4)		13
Amortization of net (gains)/losses	394		(103)		291
Total retirement-related benefit plans	$	417	$	(109)	$	309
Other comprehensive income/(loss)	$	926	$	(364)	$	562

(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.

Reclassifications and Taxes Related to Items of Other Comprehensive Income

($ in millions)	Before Tax Amount		Tax (Expense)/ Benefit		Net of Tax Amount
For the six months ended June 30, 2025:
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	(956)	$	602	$	(354)
Net unrealized gains/(losses) on available-for-sale securities	$	2	$	(1)	$	2
Unrealized gains/(losses) on cash flow hedges:
Unrealized gains/(losses) arising during the period	$	(141)	$	40	$	(101)
Reclassification of (gains)/losses to:
Cost of services	5		(1)		4
Cost of sales	(2)		1		(2)
Cost of financing	2		(1)		2
SG&A expense	(2)		0		(1)
Other (income) and expense	(758)		191		(567)
Interest expense	12		(3)		9
Total unrealized gains/(losses) on cash flow hedges	$	(883)	$	227	$	(656)
Retirement-related benefit plans: (1)
Prior service costs/(credits)	$	0	$	0	$	0
Net gains/(losses) arising during the period	0		8		8
Curtailments and settlements	7		(2)		5
Amortization of prior service costs/(credits)	(4)		1		(2)
Amortization of net (gains)/losses	308		(83)		225
Total retirement-related benefit plans	$	311	$	(76)	$	236
Other comprehensive income/(loss)	$	(1,525)	$	753	$	(772)

(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.

Accumulated Other Comprehensive Income/(Loss) (net of tax)

($ in millions)	Foreign Currency Translation Adjustments (1)		Net Unrealized Gains/(Losses) on Available- For-Sale Securities		Net Unrealized Gains/(Losses) on Cash Flow Hedges		Net Change Retirement- Related Benefit Plans		Accumulated Other Comprehensive Income/(Loss)
January 1, 2026	$	(3,956)	$	0	$	(157)	$	(11,600)	$	(15,713)
Other comprehensive income before reclassifications	(31)		0		(46)		1		(77)
Amount reclassified from accumulated other comprehensive income	—		—		331		308		639
Total change for the period	$	(31)	$	0	$	285	$	309	$	562
June 30, 2026	$	(3,988)	$	(1)	$	128	$	(11,291)	$	(15,151)

($ in millions)	Foreign Currency Translation Adjustments (1)		Net Unrealized Gains/(Losses) on Available- For-Sale Securities		Net Unrealized Gains/(Losses) on Cash Flow Hedges		Net Change Retirement- Related Benefit Plans		Accumulated Other Comprehensive Income/(Loss)
January 1, 2025	$	(3,512)	$	0	$	237	$	(11,994)	$	(15,269)
Other comprehensive income before reclassifications	(354)		2		(101)		8		(445)
Amount reclassified from accumulated other comprehensive income	—		—		(555)		228		(328)
Total change for the period	$	(354)	$	2	$	(656)	$	236	$	(772)
June 30, 2025	$	(3,865)	$	2	$	(419)	$	(11,759)	$	(16,041)

(1)Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.