v3.26.3
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Components of Lease Expense and Supplemental Cash Flow Information
The components of lease expense are as follows:
(In millions)202520242023
Operating lease cost$251 $227 $200 
Finance lease cost:
Amortization of lease assets9 12 15 
Interest on lease liabilities1 1 1 
Short-term lease cost23 19 18 
Variable lease cost26 29 28 
Sublease income(1)(1)(1)
Total lease cost$309 $287 $261 
Supplemental cash flow information related to leases is as follows:
(In millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - payments on operating leases$(198)$(200)$(180)
Operating cash outflows - interest payments on finance leases(1)(1)(1)
Financing cash outflows - payments on finance lease obligations(9)(14)(18)
Lease assets obtained in exchange for new lease obligations, including leases acquired:
Operating leases$193 $268 $183 
Finance leases6 13 38 
Schedule of Supplemental Balance Sheet Information related to Leases
Supplemental balance sheet information related to leases is as follows:
December 31
(In millions)20252024
Operating Leases
Operating lease assets$768 $806 
Other current liabilities152 163 
Operating lease liabilities637 669 
Total operating lease liabilities$789 $832 
Finance Leases
Land and buildings$9 $5 
Machinery and equipment47 61 
Accumulated depreciation(31)(37)
Net property, plant and equipment$25 $29 
Current portion of long-term debt$7 $9 
Long-term debt18 19 
Total finance lease liabilities$25 $28 
December 31
20252024
Weighted-average remaining lease term
Operating leases8.0 years7.1 years
Finance leases4.7 years4.2 years
Weighted-average discount rate
Operating leases4.7 %4.4 %
Finance leases3.8 %3.7 %
Schedule of Maturities of Operating Lease Liabilities
Maturities of lease liabilities at December 31, 2025 are as follows:
(In millions)Operating LeasesFinance Leases
2026$183 $8 
2027150 7 
2028122 4 
202997 3 
203072 2 
Thereafter332 3 
Total lease payments957 27 
Less imputed interest168 2 
Total present value of lease liabilities$789 $25 
Schedule of Maturities of Finance Lease Liabilities
Maturities of lease liabilities at December 31, 2025 are as follows:
(In millions)Operating LeasesFinance Leases
2026$183 $8 
2027150 7 
2028122 4 
202997 3 
203072 2 
Thereafter332 3 
Total lease payments957 27 
Less imputed interest168 2 
Total present value of lease liabilities$789 $25