v3.25.4
RETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Obligations and Assets
Changes in defined benefit pension plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as follows:
Year Ended December 31,
Dollars in millions20252024
Benefit obligations at beginning of year$1,945 $2,238 
Service cost—benefits earned during the year37 33 
Interest cost66 74 
Settlements and curtailments(64)(247)
Actuarial (gains)/losses(67)(10)
Benefits paid(73)(58)
Foreign currency and other192 (85)
Benefit obligations at end of year$2,036 $1,945 
Fair value of plan assets at beginning of year$1,927 $2,212 
Actual return on plan assets72 31 
Employer contributions51 71 
Settlements(54)(247)
Benefits paid(73)(58)
Foreign currency and other213 (82)
Fair value of plan assets at end of year$2,136 $1,927 
Funded status$100 $(18)
Assets/(liabilities) recognized:
Other non-current assets$330 $234 
Other current liabilities(24)(21)
Other non-current liabilities(206)(231)
Funded status$100 $(18)
Recognized in Accumulated other comprehensive loss:
Net actuarial losses$848 $924 
Prior service credit(28)(27)
Total$820 $897 
Schedule of Accumulated and Projected Benefit Obligation in Excess of Fair Value of Plan Assets
Additional information related to pension plan was as follows:
December 31,
Dollars in millions20252024
Pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation$635 $605 
Fair value of plan assets405 353 
Pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation610 578 
Fair value of plan assets405 353 
Schedule of Defined Benefit Actuarial Assumptions, Benefit Obligations
Weighted-average assumptions used to determine defined benefit pension plan obligations were as follows:
December 31,
 20252024
Discount rate3.8 %3.5 %
Rate of compensation increase1.5 %1.4 %
Interest crediting rate2.5 %2.4 %
Schedule of Defined Benefit Actuarial Assumptions, Net Periodic Benefit Cost
Weighted-average actuarial assumptions used to determine defined benefit pension plan net periodic benefit cost were as follows:
Year Ended December 31,
 202520242023
Discount rate3.5 %3.4 %4.0 %
Expected long-term return on plan assets4.1 %4.8 %4.1 %
Rate of compensation increase1.4 %1.4 %1.2 %
Interest crediting rate2.4 %2.5 %2.5 %
Fair Value of Pension Plan Assets by Asset Category
The fair value of pension plan assets by asset category was as follows:
 December 31, 2025December 31, 2024
Dollars in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Plan assets
Equity securities$1 $— $— $1 $1 $— $— $1 
Equity funds— 303 — 303 — 256 — 256 
Fixed income funds— 484 — 484 — 446 — 446 
U.S. Treasury and agency securities— 33 — 33 — 41 — 41 
Insurance contracts— — 756 756 — — 708 708 
Cash and cash equivalents68 — — 68 57 — — 57 
Other— 11 — 11 — 11 — 11 
Plan assets subject to leveling$69 $831 $756 $1,656 $58 $754 $708 $1,520 
Plan assets measured at NAV as a practical expedient480 407 
Net plan assets$2,136 $1,927