Income Taxes (Tables)

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Summary of Income Taxes

Earnings before income taxes, provision for income taxes and income tax rates consisted of the following:

	For the Nine Months Ended September 30,						For the Three Months Ended September 30,
(in millions)	2025			2024			2025			2024
Earnings before income taxes	$	7,876		$	10,881		$	3,075		$	3,026
Provision for income taxes	2,046			2,656			700			733
Income tax rate	26.0		%	24.4		%	22.8		%	24.2		%

Summary of Valuation Allowance

The following chart provides a reconciliation of the beginning and ending valuation allowances for the nine months ended September 30, 2025:

(in millions)
Balance at beginning of year	$	668
Additions to valuation allowance charged to income tax expense	84
Releases of valuation allowance credited to income tax benefit	(12)
Balance at end of period	$	740