Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Schedule of Weighted Average Actuarial Assumptions Utilized to Calculate the Net Periodic Benefit Costs

The weighted average actuarial assumptions utilized to calculate the net periodic benefit cost or credit for the U.S. and significant non-U.S. defined benefit plans are as follows:

Combined U.S. and significant non-U.S. Plans	Pension Benefits
September 30,	2025		2024
Weighted average assumptions:
Discount rate	5.36	%	4.95	%
Expected return on plan assets	5.43	%	5.44	%
Rate of compensation increase*	3.16	%	3.16	%

(*)There are no rate of compensation increase assumptions for the primary U.S. defined benefit plans since future benefit accruals were discontinued for those plans after December 31, 2016 and earned benefits are not subject to final salary level adjustments.

Schedule of Net Benefit Costs

The components of the net benefit credit for defined benefit plans are as follows:

Combined U.S. and significant non-U.S. Plans
For the Three Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	8	$	5
Interest cost	151		146
Expected return on plan assets	(215)		(222)
Amortization of prior service (credit) cost	1		—
Recognized actuarial loss	11		8
Net periodic benefit credit	$	(44)	$	(63)
Settlement loss	—		1
Net benefit credit	$	(44)	$	(62)

Combined U.S. and significant non-U.S. Plans
For the Nine Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	21	$	17
Interest cost	445		434
Expected return on plan assets	(631)		(657)
Amortization of prior service (credit) cost	1		1
Recognized actuarial loss	32		23
Net periodic benefit credit	$	(132)	$	(182)
Settlement loss	10		1
Net benefit credit	$	(122)	$	(181)

The following tables provide the amounts reported in the consolidated statements of income:

Combined U.S. and significant non-U.S. Plans
For the Three Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Compensation and benefits expense	$	8	$	5
Other net benefit credits	(52)		(67)
Net benefit credit	$	(44)	$	(62)

Combined U.S. and significant non-U.S. Plans
For the Nine Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Compensation and benefits expense	$	21	$	17
Other net benefit credits	(143)		(198)
Net benefit credit	$	(122)	$	(181)

The components of the net benefit credit for the U.S. defined benefit plans are as follows:

U.S. Plans only
For the Three Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	1	$	—
Interest cost	64		62
Expected return on plan assets	(74)		(76)
Recognized actuarial loss	6		5
Net benefit credit	$	(3)	$	(9)

U.S. Plans only
For the Nine Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	1	$	—
Interest cost	191		187
Expected return on plan assets	(220)		(227)
Recognized actuarial loss	18		15
Net periodic benefit credit	$	(10)	$	(25)
Settlement loss	1		—
Net benefit credit	$	(9)	$	(25)

The components of the net benefit credit for the non-U.S. defined benefit plans are as follows:

Significant non-U.S. Plans only
For the Three Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	7	$	5
Interest cost	87		84
Expected return on plan assets	(141)		(146)
Amortization of prior service credit	1		—
Recognized actuarial loss	5		3
Net periodic benefit credit	$	(41)	$	(54)
Settlement loss	—		1
Net benefit credit	$	(41)	$	(53)

Significant non-U.S. Plans only
For the Nine Months Ended September 30,	Pension Benefits
(In millions)	2025		2024
Service cost	$	20	$	17
Interest cost	254		247
Expected return on plan assets	(411)		(430)
Amortization of prior service credit	1		1
Recognized actuarial loss	14		8
Net periodic benefit credit	$	(122)	$	(157)
Settlement loss	9		1
Net benefit credit	$	(113)	$	(156)