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RETIREMENT BENEFITS | 6 Months Ended
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Jun. 30, 2026
Retirement Benefits [Abstract] |
RETIREMENT BENEFITS | RETIREMENT BENEFITS Defined Benefit Plans - Expense The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended June 30 were as follows (in millions):
| Second Quarter
| 2025 |  | 2026
| Pension Benefits |  | OPEB |  | Pension Benefits |  | OPEB
| U.S. Plans |  | Non-U.S. Plans |  | Worldwide |  | U.S. Plans |  | Non-U.S. Plans |  | Worldwide
Service cost | $ | 52 |  |  | $ | 50 |  |  | $ | 5 |  |  | $ | 53 |  |  | $ | 40 |  |  | $ | 5 |
Interest cost | 393 |  |  | 238 |  |  | 55 |  |  | 353 |  |  | 252 |  |  | 49 |
Expected return on assets | (457) |  |  | (289) |  |  | — |  |  | (449) |  |  | (293) |  |  | — |
Amortization of prior service costs/(credits) | 22 |  |  | 6 |  |  | 2 |  |  | 22 |  |  | 6 |  |  | 3 |
Net remeasurement (gain)/loss | — |  |  | — |  |  | — |  |  | — |  |  | 54 |  |  | — |
Separation costs/other | 5 |  |  | 11 |  |  | — |  |  | — |  |  | 10 |  |  | — |
Settlements and curtailments | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |
Net periodic benefit cost/(income) | $ | 15 |  |  | $ | 16 |  |  | $ | 62 |  |  | $ | (21) |  |  | $ | 73 |  |  | $ | 57 |
| First Half
| 2025 |  | 2026
| Pension Benefits |  | OPEB |  | Pension Benefits |  | OPEB
| U.S. Plans |  | Non-U.S. Plans |  | Worldwide |  | U.S. Plans |  | Non-U.S. Plans |  | Worldwide
Service cost | $ | 104 |  |  | $ | 98 |  |  | $ | 10 |  |  | $ | 106 |  |  | $ | 84 |  |  | $ | 10 |
Interest cost | 786 |  |  | 462 |  |  | 110 |  |  | 706 |  |  | 500 |  |  | 99 |
Expected return on assets | (913) |  |  | (567) |  |  | — |  |  | (898) |  |  | (588) |  |  | — |
Amortization of prior service costs/(credits) | 44 |  |  | 12 |  |  | 4 |  |  | 44 |  |  | 12 |  |  | 5 |
Net remeasurement (gain)/loss | — |  |  | (10) |  |  | — |  |  | — |  |  | (189) |  |  | — |
Separation costs/other | 12 |  |  | 35 |  |  | — |  |  | — |  |  | 63 |  |  | — |
Settlements and curtailments | — |  |  | — |  |  | — |  |  | — |  |  | 19 |  |  | — |
Net periodic benefit cost/(income) | $ | 33 |  |  | $ | 30 |  |  | $ | 124 |  |  | $ | (42) |  |  | $ | (99) |  |  | $ | 114 |
The service cost component is included in Cost of sales and Selling, administrative, and other expenses. Other components of net periodic benefit cost/(income) are included in Other income/(loss), net on our consolidated income statements. Pension Plan Contributions During 2026, we continue to expect to contribute about $550 million of cash to our global funded pension plans. We also expect to make about $400 million of benefit payments to participants in unfunded plans. In the first half of 2026, we contributed $326 million to our global funded pension plans and made $181 million of benefit payments to participants in unfunded plans.

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