v3.25.4
Pension Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2025
Pension Benefit Plans.  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Obligations at beginning of year

$

793

$

866

$

615

$

727

Change in benefit obligations:

Service cost

 

5

 

6

 

9

 

9

Interest cost

 

43

 

43

 

37

 

35

Actuarial (gain) loss

8

(45)

(4)

(56)

Settlements

 

(20)

(15)

Curtailments

 

(6)

(2)

Benefit payments

 

(77)

 

(78)

 

(42)

 

(41)

Foreign currency translation

 

60

 

(42)

Net change in benefit obligations

 

(21)

 

(73)

 

34

 

(112)

Obligations at end of year

$

772

$

793

$

649

$

615

Changes in the fair value of the pension plans' assets

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Fair value at beginning of year

$

794

$

837

$

505

$

564

Change in fair value:

Actual gain (loss) on plan assets

 

88

 

30

 

18

 

(12)

Benefit payments

 

(77)

 

(78)

 

(42)

 

(41)

Employer contributions

 

2

 

5

 

32

 

27

Participant contributions

 

1

 

1

Settlements

(20)

(15)

Foreign currency translation

 

36

 

(19)

Net change in fair value of assets

 

13

 

(43)

 

25

 

(59)

Fair value at end of year

$

807

$

794

$

530

$

505

Funded status

U.S.

Non-U.S.

 

2025

2024

2025

2024

 

Plan assets at fair value

  ​ ​ ​

$

807

  ​ ​ ​

$

794

  ​ ​ ​

$

530

  ​ ​ ​

$

505

Projected benefit obligations

 

772

 

793

 

649

 

615

Plan assets less than projected benefit obligations

 

35

 

1

 

(119)

 

(110)

Items not yet recognized in pension expense:

Actuarial loss

 

280

 

321

 

297

 

283

Prior service cost

 

 

 

8

 

9

 

280

 

321

 

305

 

292

Net amount recognized

$

315

$

322

$

186

$

182

Net amount recognized included in the Consolidated Balance Sheets

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Pension assets

$

38

$

8

$

90

$

84

Current pension liability, included with other accrued liabilities

 

(1)

 

(1)

 

(9)

 

(7)

Pension benefits

 

(2)

 

(6)

 

(200)

 

(187)

Accumulated other comprehensive loss

 

280

 

321

 

305

 

292

Net amount recognized

$

315

$

322

$

186

$

182

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive loss

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Current year actuarial (gain) loss

$

(29)

$

(22)

$

5

$

(14)

Amortization of actuarial loss

 

(12)

 

(14)

 

(8)

 

(10)

Settlement

(6)

(4)

Foreign currency translation

 

23

 

(9)

$

(41)

$

(36)

$

14

$

(37)

Components of net periodic pension cost

U.S.

Non-U.S.

 

2025

2024

2023

2025

2024

2023

 

Service cost

  ​ ​ ​

$

5

  ​ ​ ​

$

6

  ​ ​ ​

$

6

  ​ ​ ​

$

9

  ​ ​ ​

$

9

  ​ ​ ​

$

8

Interest cost

 

43

 

43

 

45

 

37

 

35

 

38

Expected asset return

 

(50)

 

(53)

 

(55)

 

(32)

 

(32)

 

(30)

Amortization:

Actuarial loss

 

11

 

14

 

9

 

8

 

10

 

9

Net expense

$

9

$

10

$

5

$

22

$

22

$

25

Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets

Projected Benefit Obligation Exceeds 

Accumulated Benefit Obligation Exceeds

 

the Fair Value of Plan Assets

the Fair Value of Plan Assets

 

U.S.

Non-U.S.

U.S.

Non-U.S.

 

  ​ ​ ​

2025

2024

  ​ ​ ​

2025

2024

  ​ ​ ​

2025

2024

  ​ ​ ​

2025

2024

Projected benefit obligations

$

3

$

257

$

246

$

227

$

3

$

257

$

246

$

227

Accumulated benefit obligation

 

3

 

257

 

217

 

199

 

3

 

257

 

217

 

199

Fair value of plan assets

 

 

250

 

38

 

32

 

 

250

 

38

 

32

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

The weighted average assumptions used to determine benefit obligations are as follows:

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Discount rate

 

5.49

%  

5.66

%  

5.80

%  

5.74

%

Rate of compensation increase

 

N/A

N/A

3.45

%  

3.27

%

The weighted average assumptions used to determine net periodic pension costs are as follows:

U.S.

Non-U.S.

 

2025

2024

2023

2025

2024

2023

 

Discount rate

  ​ ​ ​

5.66

%  

5.18

%  

5.48

%  

5.74

%  

5.12

%  

5.52

%

Rate of compensation increase

 

N/A

N/A

N/A

3.27

%  

3.24

%  

3.28

%

Expected long-term rate of return on assets

 

5.75

%  

5.75

%  

5.75

%  

5.12

%  

5.14

%  

4.67

%

Fair value of defined benefit pension plan assets and target allocations

2025

2024

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Total

  ​ ​ ​

Cash and cash equivalents

$

13

$

$

$

13

$

12

$

$

$

12

Debt securities

21

21

17

17

Total

$

34

$

$

$

29

$

$

 

Investments measured at net asset value

 

$

496

 

$

476

 

Total non-U.S. assets at fair value

$

530

$

505

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

Year(s)

  ​ ​ ​

U.S.

  ​ ​ ​

Non-U.S.

2026

$

69

$

49

2027

 

68

 

48

2028

 

67

 

49

2029

 

66

 

51

2030

 

65

 

54

2031-2035

 

298

 

283

Postretirement Benefits Other Than Pensions  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Obligations at beginning of year

$

19

$

21

$

46

$

50

Change in benefit obligations:

Service cost

 

 

 

1

 

1

Interest cost

 

1

 

1

 

2

 

2

Actuarial (gain) loss

 

(3)

 

(1)

 

(11)

 

(1)

Benefit payments

 

(2)

 

(2)

 

(2)

 

(2)

Plan amendments

(1)

Foreign currency translation

 

3

 

(4)

Net change in benefit obligations

 

(5)

 

(2)

 

(7)

 

(4)

Obligations at end of year

$

14

$

19

$

39

$

46

Funded status

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Postretirement benefit obligations

$

(14)

$

(19)

$

(39)

$

(46)

Items not yet recognized in net postretirement benefit cost:

Actuarial gain

(29)

(29)

(40)

(30)

Prior service credit

 

(2)

 

 

 

 

(31)

 

(29)

 

(40)

 

(30)

Net amount recognized

$

(45)

$

(48)

$

(79)

$

(76)

Net amount recognized included in the Consolidated Balance Sheets

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Current nonpension postretirement benefit, included with Other accrued liabilities

$

(1)

$

(1)

$

(3)

$

(2)

Nonpension postretirement benefits

 

(13)

 

(18)

 

(36)

 

(44)

Accumulated other comprehensive loss

 

(31)

 

(29)

 

(40)

 

(30)

Net amount recognized

$

(45)

$

(48)

$

(79)

$

(76)

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive loss

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Current year actuarial (gain) loss

$

$

$

(11)

$

(1)

Amortization of actuarial gain (loss)

 

 

(9)

2

3

Amortization of prior service credit

 

(2)

 

9

Foreign currency translation

 

(2)

3

$

(2)

$

$

(11)

$

5

Components of net periodic pension cost

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

Service cost

$

$

$

$

1

$

1

$

1

Interest cost

 

1

 

1

 

1

 

2

 

2

 

2

Amortization:

Actuarial (gain) loss

 

(2)

 

8

 

8

(2)

(3)

(3)

Prior service credit

 

 

(8)

 

(9)

Net amortization

 

(2)

 

 

(1)

 

(2)

 

(3)

 

(3)

Net postretirement benefit cost

$

(1)

$

1

$

$

1

$

$

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

Accumulated postretirement benefit obligation

 

5.43

%  

5.70

%  

5.18

%  

4.85

%  

4.65

%  

4.65

%  

Net postretirement benefit cost

 

5.70

%  

5.10

%  

5.48

%  

4.65

%  

4.65

%  

5.15

%  

Weighted average assumed health care cost trend rates

U.S.

Non-U.S.

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Health care cost trend rate assumed for next year

 

6.3

%  

6.5

%  

5.0

%  

5.0

%  

Rate to which the cost trend rate is assumed to decline (ultimate trend rate)

 

5.0

%  

5.0

%  

5.0

%  

5.0

%  

Year that the rate reaches the ultimate trend rate

 

2033

2032

N/A

N/A

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

Year(s)

  ​ ​ ​

U.S.

  ​ ​ ​

Non-U.S.

 

2026

$

1

$

2

2027

 

1

 

2

2028

 

1

 

2

2029

 

1

 

2

2030

 

1

 

2

2031  -  2035

 

6

 

12