Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2025, 2024, and 2023 (in millions).


	Foreign Currency Translation Adjustments		Deferred Gain (Loss) on Hedging Activities		Pension and Other Postretirement Benefit Liabilities		Unrealized Gain (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2022	$	(2,622)	$	148	$	(22)	$	(13)	$	(2,509)
Other comprehensive income (loss) before reclassifications	204		337		(46)		16		511
(Loss) from net investment hedges	(153)		—		—		—		(153)
Amounts reclassified from AOCI	—		(322)		(42)		—		(364)
Tax effect	32		(5)		2		(1)		28
Net of tax amount	83		10		(86)		15		22
Balance at December 31, 2023	(2,539)		158		(108)		2		(2,487)
Other comprehensive income (loss) before reclassifications	(607)		(118)		(27)		(16)		(768)
Gain on net investment hedges	192		—		—		—		192
Amounts reclassified from AOCI	—		77		42		—		119
Tax effect	(45)		9		(7)		(1)		(44)
Net of tax amount	(460)		(32)		8		(17)		(501)
Balance at December 31, 2024	(2,999)		126		(100)		(15)		(2,988)
Other comprehensive income (loss) before reclassifications	803		(11)		36		(4)		824
(Loss) on net investment hedges	(463)		—		—		—		(463)
Amounts reclassified from AOCI	—		4		(12)		—		(8)
Tax effect	110		—		(6)		—		104
Net of tax amount	450		(7)		18		(4)		457
Balance at December 31, 2025	$	(2,549)	$	119	$	(82)	$	(19)	$	(2,531)

Schedule of Reclassifications out of AOCI


	Amounts reclassified from AOCI Year Ended December 31,						Affected line item in the Consolidated Statements of
Details about AOCI components	2025		2024		2023		Earnings





Deferred loss (gain) on hedging activities

	$	4	$	77	$	(322)	Cost of products sold



	(1)		(20)		77		Income tax expense
	$	3	$	57	$	(245)	Net earnings