Pension Benefit Plans and Other Postretirement Benefits (Tables)
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12 Months Ended |
Dec. 31, 2025 |
| Pension Benefit Plans. |
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| Defined Benefit Plans and Other Postretirement Benefit Plans |
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| 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 | |
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| 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 | |
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| 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 | |
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| 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 | |
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| 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) | |
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| 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 | |
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| 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 | |
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| 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 | % |
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| 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 | |
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| 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 |
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| Postretirement Benefits Other Than Pensions |
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| Defined Benefit Plans and Other Postretirement Benefit Plans |
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| 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 | |
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| 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) | |
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| 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) | |
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| 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 | |
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| 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 | | $ | — | | $ | — | |
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| 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 | % |
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| 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 | |
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| 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 | |
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