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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of plan assets, benefit obligations, funded status for the U.S. and Canadian plans
Our plan assets, benefit obligations, funded status and amounts recognized on our consolidated balance sheets for our North America and United Kingdom plans as of the December 31 measurement date are as follows:
Pension PlansRetiree Medical Plans
 North AmericaUnited KingdomNorth America
December 31,December 31,December 31,
 202520242025202420252024
 (in millions)
Change in plan assets
Fair value of plan assets as of January 1$299 $313 $345 $360 $— $— 
Return on plan assets24 10 9 (7)— — 
Employer contributions(2)— 1 22 2 2 
Pension annuity purchase(39)— — — — — 
Benefit payments(14)(13)(24)(24)(2)(2)
Foreign currency translation5 (11)26 (6)— — 
Fair value of plan assets as of December 31273 299 357 345 — — 
Change in benefit obligation
Benefit obligation as of January 1(278)(292)(317)(367)(19)(20)
Service cost(4)(5)— — — — 
Interest cost(14)(13)(18)(16)(1)(1)
Benefit payments14 13 24 24 2 2 
Foreign currency translation(4)9 (24)5 — — 
Pension annuity purchase40 — — — — — 
Change in assumptions and other(18)10 — 37 (1)— 
Benefit obligation as of December 31(264)(278)(335)(317)(19)(19)
Funded status as of December 31$9 $21 $22 $28 $(19)$(19)
Schedule of amounts recognized in consolidated balance sheets
Amounts recognized on the consolidated balance sheets consist of the following:
Pension PlansRetiree Medical Plans
 North AmericaUnited KingdomNorth America
 December 31,December 31,December 31,
 202520242025202420252024
 (in millions)
Other assets$18 $21 $22 $28 $— $— 
Accounts payable and accrued expenses— — — — (2)(2)
Other current liabilities(9)— — — — — 
Other liabilities— — — — (17)(17)
$9 $21 $22 $28 $(19)$(19)
Schedule of pre-tax amounts recognized in accumulated other comprehensive loss
Pre-tax amounts recognized in accumulated other comprehensive loss consist of the following:
Pension PlansRetiree Medical Plans
 North AmericaUnited KingdomNorth America
 December 31,December 31,December 31,
 202520242025202420252024
 (in millions)
Prior service cost$— $— $1 $1 $— $— 
Net actuarial loss (gain)4 (3)94 71 (3)(5)
$4 $(3)$95 $72 $(3)$(5)
Schedule of net periodic benefit cost and other amounts recognized in accumulated other comprehensive loss
Net periodic benefit cost (income) and other amounts recognized in other comprehensive (income) loss for the years ended December 31 included the following:
 Pension PlansRetiree Medical Plans
North AmericaUnited KingdomNorth America
 202520242023202520242023202520242023
 (in millions)
Service cost$4 $5 $5 $— $— $— $— $— $— 
Interest cost14 13 13 18 16 16 1 1 1 
Expected return on plan assets(16)(16)(15)(27)(28)(25)— — — 
Settlement loss1 — — — — — — — — 
Amortization of actuarial gain— — — — — — — — (1)
Net periodic benefit cost (income)3 2 3 (9)(12)(9)1 1 — 
Net actuarial loss (gain) 8 (4)(6)17 (1)14 2 1 (2)
Settlement loss(1)— — — — — — — — 
Amortization of actuarial gain— — — — — — — — 1 
Total recognized in other comprehensive loss (income)7 (4)(6)17 (1)14 2 1 (1)
Total recognized in net periodic benefit cost (income) and other comprehensive loss (income)$10 $(2)$(3)$8 $(13)$5 $3 $2 $(1)
Schedule of benefit obligations in excess of fair value of plan assets
The following table presents aggregated information for those individual defined benefit pension plans that have an ABO in excess of plan assets or a PBO in excess of plan assets as of December 31, which excludes four of the defined benefit pension plans in 2025, and for 2024, excludes all five of the defined benefit pension plans:
North AmericaUnited Kingdom
2025202420252024
 (in millions)
Accumulated benefit obligation$194 $— $— $— 
Projected benefit obligation194 — — — 
Fair value of plan assets185 — — — 
Schedule of expected future pension and retiree medical benefit payments
The expected future benefit payments for our pension and retiree medical plans are as follows:
Pension PlansRetiree Medical Plans
North AmericaUnited KingdomNorth America
 (in millions)
2026(1)
$263 $26 $2 
2027— 27 2 
2028— 27 2 
2029— 28 2 
2030— 28 2 
2031-203510 153 6 
_______________________________________________________________________________
(1)As of December 31, 2025, the majority of expected future benefit payments for our North American pension plans are projected to occur in 2026 due to the effective plan termination on December 31, 2025 for two of our North American plans.
Schedule of assumptions used in determining the benefit obligations and expense
The following assumptions were used in determining the benefit obligations and expense:
Pension PlansRetiree Medical Plans
 North AmericaUnited KingdomNorth America
 202520242023202520242023202520242023
Weighted-average discount rate—obligation4.2 %5.2 %4.8 %5.5 %5.5 %4.6 %5.1 %5.4 %4.8 %
Weighted-average discount rate—expense5.2 %4.8 %5.1 %5.5 %4.6 %4.8 %5.4 %4.8 %5.0 %
Weighted-average cash balance interest crediting rate—obligation 3.8 %4.4 %3.9 %n/an/an/an/an/an/a
Weighted-average cash balance interest crediting rate—expense4.4 %3.9 %3.9 %n/an/an/an/an/an/a
Weighted-average rate of increase in future compensationn/a3.3 %3.3 %n/an/an/an/an/an/a
Weighted-average expected long-term rate of return on assets—expense5.1 %5.0 %4.8 %6.1 %6.5 %6.1 %n/an/an/a
Weighted-average retail price index—obligationn/an/an/a2.8 %3.1 %3.0 %n/an/an/a
Weighted-average retail price index—expensen/an/an/a3.1 %3.0 %3.2 %n/an/an/a
______________________________________________________________________________
n/a—not applicable
Schedule of fair values of U.S. and Canadian pension plan assets
The fair values of our pension plan assets as of December 31, 2025 and 2024, by major asset class, are as follows:
 North America
December 31, 2025
Total Fair
Value		Quoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
 (in millions)
Cash and cash equivalents(1)
$99 $— $99 $— 
Short-term investments(2)
25 — 25 — 
Buy-in annuity contracts(3)
63 — — 63 
Fixed income    
U.S. Treasury bonds and notes(4)
12 12 — — 
    Fixed income mutual funds(5)
33 33 — — 
Corporate bonds and notes(6)
35 — 35 — 
Government and agency securities(7)
2 — 2 — 
Other(8)
4 — 4 — 
Total assets at fair value by fair value levels$273 $45 $165 $63 
 United Kingdom
December 31, 2025
Total Fair
Value		Quoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
 (in millions)
Cash and cash funds(9)
$4 $3 $1 $— 
Buy-in annuity contracts(3)
352 — — 352 
Total assets at fair value by fair value levels$356 $3 $1 $352 
Funds measured at NAV as a practical expedient(10)
1 
Total assets at fair value$357 
 North America
December 31, 2024
 Total Fair
Value		Quoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
 (in millions)
Cash and cash equivalents(1)
$2 $1 $1 $— 
Equity mutual funds
Index equity(11)
41 41 — — 
Fixed income
U.S. Treasury bonds and notes(4)
14 14 — — 
Fixed income mutual funds(5)
42 42 — — 
Corporate bonds and notes(6)
100 — 100 — 
Government and agency securities(7)
90 — 90 — 
Other(8)
10 — 10 — 
Total assets at fair value by fair value levels$299 $98 $201 $— 
 United Kingdom
December 31, 2024
 Total Fair
Value		Quoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
 (in millions)
Cash and cash funds(9)
$2 $1 $1 $— 
Pooled equity funds(12)
14 — 14 — 
Pooled diversified funds(13)
31 — 31 — 
Debt funds
Pooled U.K. government fixed and index-linked securities funds(14)
78 — 78 — 
Pooled global debt funds(15)
124 — 124 — 
Pooled liability-driven investment funds(16)
52 — 52 — 
Total assets at fair value by fair value levels$301 $1 $300 $— 
Funds measured at NAV as a practical expedient(10)
43 
Total assets at fair value$344 
Receivable from redemption1 
Total assets$345 
_______________________________________________________________________________
(1)Cash and cash equivalents are primarily short-term money market funds.
(2)Short-term investments represent investments in a pooled money market fund that invests primarily in Canadian-dollar denominated debt securities, maturing in no more than one year.
(3)The fair values of the buy-in annuity contracts are estimated based on their exit price, that is, the amount at which the contracts could be sold to a willing third-party buyer.
(4)U.S. Treasury bonds and notes are valued based on quoted market prices in an active market.
(5)The fixed income mutual funds invest primarily in high-quality longer duration fixed income securities, which include bonds, debt securities and other similar instruments. The funds are priced based on a daily published net asset value (NAV).
(6)Corporate bonds and notes, including private placement securities, are valued by institutional bond pricing services, which gather information from market sources and integrate credit information, observed market movements and sector news into their pricing applications and models.
(7)Government and agency securities consist of U.S. municipal bonds and for 2024 only, Canadian provincial bonds. These securities are valued by institutional bond pricing services, which gather information on current trading activity, market movements, trends, and specific data on specialty issues.
(8)Other includes primarily mortgage-backed, asset-backed securities and U.S. Treasury strips. Mortgage-backed and asset-backed securities are valued by institutional pricing services, which gather information from market sources and integrate credit information, observed market movements and sector news into their pricing applications and models. U.S. Treasury strips are valued using stripped interest and stripped principal yield curves based on data obtained from various dealer contacts and live data sources.
(9)Cash and cash funds include a cash fund that invests primarily in short-dated money market instruments.
(10)Funds measured at NAV as a practical expedient as of December 31, 2025 include a fund of funds that invests primarily in freehold and leasehold property in the United Kingdom. Funds measured at NAV as a practical expedient as of December 31, 2024 include funds of funds with return strategies that provide exposure to various asset classes and credit strategies, as well as alternative investment strategies that may include multi-asset credit strategies, global macro strategies, commodities, fixed income, equities and currency, and funds that invest primarily in freehold and leasehold property in the United Kingdom. The valuation of the funds is based on NAV determined by the fund managers using the value of the underlying assets.
(11)The index equity funds are mutual funds that utilize a passively managed investment approach designed to track specific equity indices. They were valued at quoted market prices in an active market, which represented the NAVs of the shares held by the plan.
(12)Pooled equity funds invest in a broad array of global equity, equity-related securities, a range of diversifiers and may use derivatives for efficient portfolio management. The funds were valued at NAV as determined by the fund managers based on the value of the underlying net assets of the fund.
(13)Pooled diversified funds invest in a broad array of asset classes and a range of diversifiers including the use of derivatives. The funds were valued at NAV as determined by the fund managers based on the value of the underlying net assets of the fund.
(14)Pooled U.K. government fixed and index-linked securities funds invest primarily in Sterling denominated fixed income and inflation-linked fixed income securities issued or guaranteed by the U.K. government and may use derivatives for efficient portfolio management. The funds were valued at NAV as determined by the fund managers based on the value of the underlying net assets of the fund.
(15)Pooled global debt funds invest in a broad array of debt securities from corporate and government bonds to emerging markets and high-yield fixed and floating rate securities of varying maturities and may use derivatives for efficient portfolio management. The funds were valued at NAV as determined by the fund managers based on the value of the underlying net assets of the fund.
(16)Pooled liability-driven investment funds primarily invest, either through a sub-fund or directly, in gilt repurchase agreements, physical U.K. government gilts, other inflation-linked fixed income securities, and derivatives to provide exposure to interest rates and inflation, thus hedging these elements of risk associated with pension liabilities. The funds were valued at NAV as determined by the fund managers based on the value of the underlying net assets of the fund.