v3.26.3
RETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
RETIREMENT BENEFITS RETIREMENT BENEFITS
Defined Benefit Plans - Expense

The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended September 30 were as follows (in millions):
Third Quarter
20252026
Pension BenefitsOPEBPension BenefitsOPEB
U.S. PlansNon-U.S. PlansWorldwide U.S. PlansNon-U.S. PlansWorldwide
Service cost$53 $51 $5 $53 $39 $5 
Interest cost392 245 55 352 251 49 
Expected return on assets(456)(297)— (448)(291)— 
Amortization of prior service costs/(credits)
22 7 3 22 6 2 
Net remeasurement (gain)/loss— — — — (320)— 
Separation costs/other6 4 — — 12 — 
Settlements and curtailments
— — — — 8 — 
Net periodic benefit cost/(income)
$17 $10 $63 $(21)$(295)$56 
First Nine Months
20252026
Pension BenefitsOPEBPension BenefitsOPEB
U.S. PlansNon-U.S. PlansWorldwideU.S. PlansNon-U.S. PlansWorldwide
Service cost$157 $149 $15 $159 $123 $15 
Interest cost1,178 707 165 1,058 751 148 
Expected return on assets(1,369)(864)— (1,346)(879)— 
Amortization of prior service costs/(credits)
66 19 7 66 18 7 
Net remeasurement (gain)/loss— (10)— — (509)— 
Separation costs/other18 39 — — 75 — 
Settlements and curtailments
— — — — 27 — 
Net periodic benefit cost/(income)
$50 $40 $187 $(63)$(394)$170 

The service cost component is included in Cost of sales and Selling, administrative, and other expenses. Other components of net periodic benefit cost/(income) are included in Other income/(loss), net on our consolidated income statements.

Pension Plan Contributions
During 2026, we continue to expect to contribute about $550 million of cash to our global funded pension plans. We also expect to make about $400 million of benefit payments to participants in unfunded plans. In the first nine months of 2026, we contributed $483 million to our global funded pension plans and made $289 million of benefit payments to participants in unfunded plans.