v3.26.1
Pension and other postretirement benefits
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Pension and other postretirement benefits
15. Pension and other postretirement benefits
Components of Net Periodic Benefit Cost
The components of net periodic benefit cost recognized in the Condensed Consolidated Statements of Income for the Pension and Other Postretirement Benefit (OPEB) Plans were:
U.S.Non-U.S.
Three months endedSix months endedThree months endedSix months ended
June 30June 30June 30June 30
in $ millions20262025202620252026202520262025
Service cost11118101720
Interest cost66121223224642
Expected return on assets(6)(6)(12)(11)(25)(26)(51)(49)
Amortization of:
Prior service credit–– ––(3)(3)(6)(6)
Actuarial loss1– 1–1223
Curtailment gain––––(1)–(1)–
Settlement gain (i)– – – – (9)– (9)– 
Net periodic benefit cost (ii) (iii)2 1 2 2 (6)5 (2)10 
(i) Settlement gain of $9 million for the three and six months ended June 30, 2026 relates to pension plans divested as part of the sale of the Company's construction accessories operations (see Note 3) and is included within Other nonoperating income (expense), net.
(ii) Includes net periodic benefit cost of $2 million and $1 million related to OPEB plans for the three months ended June 30, 2026 and June 30, 2025, respectively, and $3 million and $2 million for the six months ended June 30, 2026 and June 30, 2025, respectively.
(iii) Service cost is included within Cost of revenues and Selling, general and administrative expenses while all other cost components are recorded within Other nonoperating income (expense), net.