v3.26.1
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
 6 Months Ended
Jun. 30, 2026
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
The following table summarizes the components of net periodic pension cost and the cost of other postretirement benefits for the periods presented:
Three Months Ended June 30,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202620252026202520262025
Service cost$1 $— $— $— $— $— 
Interest cost22 24 1 1 1 2 
Expected return on plan assets(27)(30)— — — — 
Amortization:
Actuarial loss12 10 — — (1)— 
Prior service credit— — — — — (1)
Settlement and curtailment (gain) loss— — — — — — 
Net periodic cost$8 $4 $1 $1 $— $1 
Six Months Ended June 30,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202620252026202520262025
Service cost$1 $1 $1 $1 $— $— 
Interest cost44 48 2 2 3 3 
Expected return on plan assets(54)(59)— (1)— — 
Amortization:
Actuarial loss24 20 1 — (2)— 
Prior service credit— — — — — (1)
Settlement and curtailment (gain) loss— — — (2)— — 
Net periodic benefit cost (credit)$15 $10 $3 $— $1 $2 
The following table summarizes the net periodic cost recognized in operating profit and interest and sundry (income) expense for the periods presented:
Three Months Ended June 30,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202620252026202520262025
Operating (profit) loss
$1 $— $— $— $— $— 
Interest and sundry (income) expense7 4 1 1 — 1 
Net periodic benefit cost$8 $4 $1 $1 $— $1 
Six Months Ended June 30,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202620252026202520262025
Operating (profit) loss
$1 $1 $1 $1 $— $— 
Interest and sundry (income) expense14 9 2 (1)1 2 
Net periodic benefit cost (credit)$15 $10 $3 $— $1 $2 
401(k) Defined Contribution Plan
Beginning in March 2024, the Company matching contributions for our 401(k) defined contribution plan, equal to up to 7% of participants' eligible compensation, covering substantially all U.S. employees, are contributed in company stock. The contributions were $38 million for the six months ended June 30, 2026. The contributions are presented in share based compensation and other on the Consolidated Condensed Statements of Cash Flows.