Retirement Plans and Deferred Compensation Arrangements |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Plans and Deferred Compensation Arrangements | 12. Retirement Plans and Deferred Compensation Arrangements The net periodic benefit (income) cost recognized in the Condensed Consolidated Statements of Operations includes the following:
Service cost is included within “Cost of goods sold” and “Selling, general and administrative expenses” while all other components are recorded within “Pension and other postretirement non-service income, net”. Pension Plan Contributions and Benefit Payments There were no changes in the period in connection to the funding standards and funding requirements for our qualified and approved pension plans. The contributions paid and expected to be paid during the current fiscal year are not significantly different from the amounts as disclosed in “Note 19. Retirement Plans and Deferred Compensation Arrangements” of the 2025 Consolidated Financial Statements. Deferred Compensation Arrangements We have financial assets related to supplemental retirement savings plans (“Supplemental Plans”) that are carried at cash surrender value. These Supplemental Plans are non-qualified deferred compensation plans where participants’ accounts are credited with investment gains and losses in accordance with their investment election or elections. The investment alternatives under the Supplemental Plans are generally similar to investment alternatives available under 401(k) plans. Assets and liabilities held in respect of these Supplemental Plans were carried at $222 million and $170 million, respectively, as of June 30, 2026 (December 31, 2025: $203 million and $158 million, respectively).
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