v3.25.4
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of activity in allowance for credit losses
The activity in the allowance for credit losses for trade receivables for the years 2025, 2024 and 2023 is as follows:
(in millions)202520242023
Balance, beginning of period$18 $21 $22 
Provision6 3 3 
Write-offs(8)(5)(3)
Foreign exchange and other1 (1)(1)
Balance, end of period$17 $18 $21 
Schedule of estimated useful lives of property, plant and equipment Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives:
Land improvements
15 - 30 years
Buildings and improvements
Up to 40 years
Machinery and equipment
Up to 20 years
Other equipment
3 - 10 years
Leasehold improvements
Lesser of term of lease or 10 years
Schedule of estimated useful lives of intangible assets Amortization is calculated primarily using the straight-line method based on the following estimated useful lives:
Product brands
5 - 15 years
Corporate brands
1 - 17 years
Product rights/patents
3 - 15 years
Out-licensed technology and other
1 - 16  years
Schedule of variable consideration provisions
The following tables present the activity and ending balances of the Company’s variable consideration provisions for years 2025 and 2024:
(in millions)
Discounts
and
Allowances
ReturnsRebatesChargebacks
Distribution
Fees
Total
Reserve balance, January 1, 2024
$141 $66 $226 $67 $18 $518 
Current period provision420 98 1,487 631 82 2,718 
Payments and credits(441)(76)(1,216)(624)(74)(2,431)
Reserve balance, December 31, 2024
120 88 497 74 26 805 
Current period provision476 79 2,049 611 98 3,313 
Payments and credits(476)(88)(1,964)(625)(89)(3,242)
Reserve balance, December 31, 2025
$120 $79 $582 $60 $35 $876