Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Other comprehensive income refers to revenues, expenses, gains and losses that under generally accepted accounting principles are included in accumulated other comprehensive income, a component of equity within the Consolidated Balance Sheets, rather than net income on the Consolidated Statements of Income. Under existing accounting standards, other comprehensive income may include, among other things, unrecognized gains and losses and prior service credit related to pension and other postretirement benefit plans.

The following table provides the components of accumulated other comprehensive income (loss) (AOCI) by component (in millions):


	Pension and Retiree Health and Welfare Benefit Items		Equity Method Investments		Total
Balance as of December 31, 2022	$	185	$	9	$	194
Other comprehensive income (loss) before reclassifications, net of $21 million tax expense	68		(1)		67
Amounts reclassified from AOCI:
Amortization of actuarial gains a	(36)		—		(36)


Tax expense (benefit)	9		—		9
Balance as of December 31, 2023	$	226	$	8	$	234
Other comprehensive income (loss) before reclassifications, net of $115 million tax expense	361		1		362
Amounts reclassified from AOCI:
Amortization of actuarial gains a	(20)		—		(20)


Tax expense (benefit)	5		—		5
Balance as of December 31, 2024	$	572	$	9	$	581
Other comprehensive income (loss) before reclassifications, net of $19 million tax benefit	(62)		—		(62)
Amounts reclassified from AOCI:
Amortization of actuarial gains a	(30)		—		(30)

Settlement loss a	2		—		2
Tax expense (benefit)	7		—		7
Balance as of December 31, 2025	$	489	$	9	$	498

a This accumulated other comprehensive income component is included in the computation of net periodic pension cost (see Note 15 for additional details).