Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Entity Information [Line Items] | |
| Income Tax Disclosure [Text Block] | INCOME TAXES The effective tax rate for the three and six months ended June 30, 2026 was 25.1 percent and 21.8 percent, respectively, and 23.4 percent and 20.8 percent for the three and six months ended June 30, 2025, respectively. During the three and six months ended June 30, 2026, the company recognized a $50 million charge associated with the Discretionary Pension Contribution, as discussed in Note 14 - Pension Plans and Other Post Employment Benefits, to the interim Consolidated Financial Statements. During the three and six months ended June 30, 2026, the company recognized $10 million and $61 million, respectively, of net tax benefits for income taxes on continuing operations associated with changes in deferred taxes and accruals for certain prior year tax positions in various jurisdictions as well as from stock-based compensation. During the six months ended June 30, 2026, the company recognized a $31 million tax benefit related to intellectual property realignment. During the six months ended June 30, 2025, the company recognized a $55 million deferred tax benefit associated with a change in a legal entity’s U.S. tax characterization. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of the program, which resides in the U.S., is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions, which can drive material impacts on the company's effective tax rate. For further discussion of pre-tax and after-tax impacts of the company's foreign currency hedging program and net monetary asset programs, refer to Note 5 - Supplementary Information, to the interim Consolidated Financial Statements.
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