v3.26.1
RETIREMENT BENEFITS
 3 Months Ended
Mar. 31, 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 March 31 were as follows (in millions):
First Quarter
20252026
 Pension BenefitsOPEBPension BenefitsOPEB
 U.S. PlansNon-U.S. PlansWorldwide U.S. PlansNon-U.S. PlansWorldwide
Service cost$52 $48 $5 $53 $44 $5 
Interest cost393 224 55 353 248 50 
Expected return on assets(456)(278)— (449)(295)— 
Amortization of prior service costs/(credits)
22 6 2 22 6 2 
Net remeasurement (gain)/loss— (10)— — (243)— 
Separation costs/other7 24 — — 53 — 
Settlements and curtailments
— — — — 15 — 
Net periodic benefit cost/(income)
$18 $14 $62 $(21)$(172)$57 

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 quarter of 2026, we contributed $178 million to our global funded pension plans and made $97 million of benefit payments to participants in unfunded plans.