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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Components of net pension expense for defined benefit pension plans were as follows:
Three months ended September 30,Nine months ended September 30,
(In millions)2026202520262025
Company-administered plans:
Service cost$— $— $1 $1 
Interest cost21 22 63 66 
Pension settlement expense— — 8 — 
Expected return on plan assets(20)(21)(60)(62)
Amortization of net actuarial loss and prior service cost7 9 23 23 
Net pension expense$8 $10 $35 $28 
Company-administered plans:
U.S.$4 $6 $14 $17 
Non-U.S.4 4 21 11 
Net pension expense$8 $10 $35 $28 

"Non-operating pension costs, net" include the amortization of net actuarial loss and prior service cost, interest cost and expected return on plan assets components of pension and postretirement benefit costs, as well as any significant charges for settlements or curtailments if recognized. We also maintain other postretirement benefit plans that are not reflected in the table above as the amount of postretirement benefit expense for such plans was not material for any period presented.

During the second quarter of 2026, we made lump-sum benefit settlement payments totaling $19 million for certain participants in our Canadian defined benefit pension plan. This represented 31% of the plan's projected benefit obligation, and resulted in an $8 million non-cash, pre-tax settlement charge for a portion of the plan’s actuarial loss in “Accumulated other comprehensive loss.”
Subsequent Event

During the fourth quarter of 2026, we expect to settle the U.K. defined benefit pension plan's remaining projected benefit obligation of approximately $299 million by transferring the administrative rights for the annuity payments under our bulk annuity contract executed in 2023 with a U.K. insurance company. The settlement follows the completion of our FMS U.K. business exit in 2023. In October 2026, we settled the Canadian defined benefit pension plan’s remaining projected benefit obligation of approximately $39 million by transferring the administrative rights for the annuity payments under our bulk annuity contract executed in 2025 with a Canadian insurance company. As a result of these settlements, during the fourth quarter of 2026, we expect to recognize total non-cash, pre-tax pension settlement charges of approximately $240 million, or $4.30 per share, from the recognition of the remaining actuarial losses in “Accumulated other comprehensive loss” for the U.K. and Canadian plans. These charges will not impact our shareholders’ equity or cash flows.