XML 68 R46.htm IDEA: XBRL DOCUMENT v3.25.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Components of income taxes on income before income taxes and the components of deferred tax assets and liabilities were as follows, in millions:

			2025						2024						2023
Income before income taxes:
U.S.			$	889					$	881					$	968
Foreign			246						280						270
			$	1,135					$	1,161					$	1,238
Income tax expense:
Currently payable:
U.S. Federal			$	123					$	153					$	189
State and local			17						26						47
Foreign			74						80						74
Deferred:
U.S. Federal			51						14						—
State and local			8						9						(39)
Foreign			4						5						7
			$	277					$	287					$	278
Deferred tax assets at December 31:
Receivables			$	9					$	8
Inventories			16						13
Other assets, including stock-based compensation			7						8
Accrued liabilities			43						48
Noncurrent operating lease liabilities			46						44
Other long-term liabilities			46						49
Capitalized research expenditures			—						48
Net operating loss carryforward			52						57
Tax credit carryforward			7						8
			226						283
Valuation allowance			(27)						(27)
			199						256
Deferred tax liabilities at December 31:
Property and equipment			83						77
Operating lease right-of-use assets			49						45
Intangibles			79						80
Investment in foreign subsidiaries			16						14
Other			17						16
			244						232
Net deferred tax (liability) asset at December 31			$	(45)					$	24

Schedule of Deferred Tax Assets and Liabilities

Components of income taxes on income before income taxes and the components of deferred tax assets and liabilities were as follows, in millions:

			2025						2024						2023
Income before income taxes:
U.S.			$	889					$	881					$	968
Foreign			246						280						270
			$	1,135					$	1,161					$	1,238
Income tax expense:
Currently payable:
U.S. Federal			$	123					$	153					$	189
State and local			17						26						47
Foreign			74						80						74
Deferred:
U.S. Federal			51						14						—
State and local			8						9						(39)
Foreign			4						5						7
			$	277					$	287					$	278
Deferred tax assets at December 31:
Receivables			$	9					$	8
Inventories			16						13
Other assets, including stock-based compensation			7						8
Accrued liabilities			43						48
Noncurrent operating lease liabilities			46						44
Other long-term liabilities			46						49
Capitalized research expenditures			—						48
Net operating loss carryforward			52						57
Tax credit carryforward			7						8
			226						283
Valuation allowance			(27)						(27)
			199						256
Deferred tax liabilities at December 31:
Property and equipment			83						77
Operating lease right-of-use assets			49						45
Intangibles			79						80
Investment in foreign subsidiaries			16						14
Other			17						16
			244						232
Net deferred tax (liability) asset at December 31			$	(45)					$	24

Schedule of Reconciliation of Income Tax expense the U.S. Federal Statutory Tax Rate to the Income Tax Expense on Income

A reconciliation of income tax expense at the U.S. Federal statutory tax rate to the income tax expense on income before income taxes was as follows, in millions:

			Year Ended December 31,
			2025												2024												2023
Income tax expense at U.S. Federal statutory tax rate			$	238					21.0		%				$	244					21.0		%				$	260					21.0		%
State and local tax effects, net of U.S. Federal tax benefit (A):
State and local taxes			32						2.8						26						2.2						29						2.3
Valuation allowance			(2)						(0.2)						(1)						(0.1)						(29)						(2.3)
Foreign tax effects:
Germany:
Municipal taxes			15						1.4						19						1.6						17						1.3
Other			5						0.4						—						—						(3)						(0.2)
Other foreign jurisdictions			6						0.5						8						0.7						10						0.8
Effect of cross-border tax laws			(1)						(0.1)						(4)						(0.3)						(4)						(0.3)
Tax credits			(7)						(0.6)						(8)						(0.7)						(8)						(0.6)
Nontaxable or nondeductible items:
Stock-based compensation			(2)						(0.2)						(10)						(0.9)						(6)						(0.5)
Nondeductible expense			3						0.3						9						0.8						6						0.5
Changes in unrecognized tax benefits			(10)						(0.9)						3						0.3						7						0.6
Other adjustments			—						—						1						0.1						(1)						(0.1)
Income tax expense			$	277					24.4		%				$	287					24.7		%				$	278					22.5		%

(A)The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, New Jersey, Illinois, and New York for 2025; California, New York, New Jersey, Texas, and Michigan for 2024; and California, Florida, Maryland, Georgia, Oregon, and Tennessee for 2023.

Supplemental Disclosures Income Taxes Paid

Income taxes paid by jurisdiction, exceeding 5% of the total income taxes paid by year, were as follows, in millions:

			Year Ended December 31,
			2025						2024						2023
U.S. Federal			$	110					$	160					$	194
State and local			27						26						36
Foreign:
Germany:
Corporate income tax			31						24						34
Schiltach municipal tax			15
Other			10						17						23
China			15
Other foreign jurisdictions			28						33						41
Total			$	236					$	260					$	328

Schedule of Reconciliation of the Beginning and Ending Liability for Uncertain Tax Positions, Including Related Interest and Penalties

A reconciliation of the beginning and ending liability for uncertain tax positions is as follows, in millions:

			2025						2024
Balance at January 1			$	85					$	84
Current year tax positions:
Additions			14						14
Reductions			(4)						(1)
Prior year tax positions:
Additions			—						1
Reductions			(1)						—
Lapse of applicable statutes of limitation			(21)						(13)
Balance at December 31			$	73					$	85
Liability for interest and penalties			15						16
Balance at December 31, including interest and penalties			$	88					$	101

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration