Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The share-based compensation for these plans for the years ended December 31 was:

in $ millions	2025	2024	2023
Equity Incentive Plan expense	38	–	–
Performance Share Plan expense	104	123	120
Share Option expense	1	2	3
Total share-based compensation	143	125	123

Schedule of Details of Awards Granted Under Performance Share Plan

The details of the awards granted under the EIP for the year ended December 31, 2025 were:

	Number of shares	Weighted average grant date fair value
	Shares in whole numbers	Amounts in $
Outstanding at beginning of year	–	–
Granted	938,259	103.13
Forfeited	(8,554)	108.03
Outstanding at end of year	929,705	103.30

The details of the awards granted under the PSP for the year ended December 31, 2025 were:

	Number of shares	Weighted average grant date fair value
	Shares in whole numbers	Amounts in $	Amounts in €
Outstanding at beginning of year	8,298,580	50.11	46.89
Forfeited	(39,456)	60.34	56.33
Vested	(3,102,394)	35.97	34.08
Outstanding at end of year	5,156,730	58.54	54.52

Share-based payment arrangement, restricted stock unit, activity

The details of the awards granted under the EIP for the year ended December 31, 2025 were:

	Number of shares	Weighted average grant date fair value
	Shares in whole numbers	Amounts in $
Outstanding at beginning of year	–	–
Granted	726,107	98.20
Forfeited	(935)	113.98
Outstanding at end of year	725,172	98.42

Schedule of Valuation Assumptions

The fair value assigned to the portion of awards subject to a TSR performance metric was calculated using the Monte Carlo simulation model, at the grant date, taking account of peer group TSR, volatilities and correlations together with the following assumptions:

	2025
Risk-free interest rate (%)	3.93
Expected volatility (%)	29.99

The fair value assigned to the portion of awards subject to a TSR performance metric was calculated using the Monte Carlo simulation model, at the grant date, taking account of peer group TSR, volatilities and correlations together with the following assumptions:

	2024	2023
Risk-free interest rate (%)	4.44	3.16
Expected volatility (%)	30.3	28.9