v3.25.4
Income taxes - Schedule of Income Tax Expense (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]      
Swiss $ 288 $ 328 $ 218
Non-Swiss 1,209 1,300 1,085
Income before income tax expense and income from equity method investments 1,497 1,628 1,303
Current:      
Swiss – Federal 24 24 2
Swiss – Cantonal 11 0 1
Non-Swiss 213 379 347
Total current tax expense 248 403 350
Deferred:      
Swiss – Federal (1) 25 17
Swiss – Cantonal 0 14 7
Non-Swiss 79 (74) (13)
Deferred tax expense (benefit) 78 (35) 11
Total income tax expense $ 326 $ 368 $ 361