v3.25.4
Provisions and Other Non-Current Liabilities
12 Months Ended
Dec. 31, 2025
Text block [abstract]  
Provisions and Other Non-Current Liabilities

Note 23: Provisions and Other Non-Current Liabilities

The components of provisions and other non-current liabilities include the following:

 

 

 

 

                                 December 31,

(millions of U.S. dollars)

 

2025

 

2024

Net defined benefit plan obligations (see note 27)

 

 

504

 

523

Deferred compensation and employee incentives

 

 

75

 

75

Provisions

 

 

64

 

62

Other non-current liabilities

 

 

13

 

15

Total provisions and other non-current liabilities

 

 

656

 

675

 

The following table presents the movement in provisions for the years ended December 31, 2025 and 2024:

 

(millions of U.S. dollars)

 

 

Employee-
Related

Facilities-
Related

Other

Total

Balance as of December 31, 2023

 

 

45

23

95

163

Charges

 

 

21

-

19

40

Utilization

 

 

(45)

(2)

(29)

(76)

Translation and other, net

 

 

(1)

(1)

-

(2)

Balance as of December 31, 2024

 

 

20

20

85

125

Less: short-term provisions

 

 

20

1

42

63

Long-term provisions

 

 

-

19

43

62

Balance as of December 31, 2024

 

 

20

20

85

125

Charges

 

 

30

-

4

34

Utilization

 

 

(27)

(2)

(3)

(32)

Translation and other, net

 

 

-

1

2

3

Balance as of December 31, 2025

 

 

23

19

88

130

Less: short-term provisions

 

 

23

-

43

66

Long-term provisions

 

 

-

19

45

64

 

Employee-related

The employee-related provisions consisted of severance.

Facilities-related

Facilities-related provisions include lease retirement obligations, which arise when the Company agrees to restore a leased property to a specified condition at the completion of the lease period. Lease retirement provisions relate primarily to leases which expire over the next four years.

Other

Other includes provisions related to items such as disposed businesses, legal matters and health care.