Benefit Plan |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Benefit Plan | |
| Benefit Plan | Note 8—Benefit Plan Plan termination—In September 2026, we completed steps to effectuate the termination of our U.S. qualified defined benefit plan with the purchase of an insurance buy-out contract under which the insurance company assumed all benefit obligations under the plan. In the three and nine months ended September 30, 2026, as a result of the transaction, we recognized a non-cash loss of $101 million ($62 million, or $0.05 per diluted share, net of tax), recorded in other, net, associated with the settlement of such benefit obligations. Following the transaction, the plan retained $44 million of excess plan assets, recorded in other assets, and we intend to redirect such assets to another benefit plan, as permitted under the U.S. Internal Revenue Code of 1986, as amended. |