LYONDELLBASELL INDUSTRIES N.V., 10-Q filed on 5/1/2026
Quarterly Report
v3.26.1
Cover - shares
 3 Months Ended
Mar. 31, 2026
Apr. 29, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-34726  
Entity Registrant Name LYONDELLBASELL INDUSTRIES N.V.  
Entity Incorporation, State or Country Code P7  
Entity Tax Identification Number 98-0646235  
Entity Address, Address Line One 2800 Post Oak Blvd.  
Entity Address, Address Line Two Suite 5100  
Entity Address, City or Town Houston,  
Entity Address, State or Province TX  
Entity Address, Country US  
Entity Address, Postal Zip Code 77056  
City Area Code (713)  
Local Phone Number 309-7200  
Title of 12(b) Security Ordinary Shares, €0.04 Par Value  
Trading Symbol LYB  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   322,784,773
Entity Central Index Key 0001489393  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
United Kingdom    
Entity Information [Line Items]    
Entity Address, Address Line One 4th Floor, One Vine Street  
Entity Address, City or Town London  
Entity Address, Country GB  
Entity Address, Postal Zip Code W1J0AH  
Country Region +44 (0)  
City Area Code 207  
Local Phone Number 220 2600  
Netherlands    
Entity Information [Line Items]    
Entity Address, Address Line One Delftseplein 27E  
Entity Address, City or Town Rotterdam  
Entity Address, Country NL  
Entity Address, Postal Zip Code 3013AA  
Country Region +31 (0)  
City Area Code 10  
Local Phone Number 275 5500  
v3.26.1
Consolidated Statements of Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Sales and other operating revenues:    
Sales and other operating revenues: $ 7,197 $ 7,677
Operating costs and expenses:    
Cost of sales 6,496 7,128
Impairments 15 0
Selling, general and administrative expenses 411 401
Research and development expenses 36 34
Operating costs and expenses: 6,958 7,563
Operating income 239 114
Interest expense (138) (107)
Interest income 31 30
Other income, net 10 21
Income from continuing operations before equity investments and income taxes 142 58
Income (loss) from equity investments (5) 1
Income from continuing operations before income taxes 137 59
Provision for (benefit from) income taxes (2) 36
Income from continuing operations 139 23
Income (loss) from discontinued operations, net of tax (14) 154
Net income 125 177
Dividends on redeemable non-controlling interests (2) (2)
Net income attributable to the Company shareholders $ 123 $ 175
Basic    
Continuing operations (in dollars per share) $ 0.42 $ 0.06
Discontinued operations (in dollars per share) (0.04) 0.48
Basic (in dollars per share) 0.38 0.54
Diluted    
Continuing operations (in dollars per share) 0.42 0.06
Discontinued operations (in dollars per share) (0.04) 0.48
Diluted (in dollars per share) $ 0.38 $ 0.54
Trade    
Sales and other operating revenues:    
Sales and other operating revenues: $ 7,052 $ 7,528
Related parties    
Sales and other operating revenues:    
Sales and other operating revenues: $ 145 $ 149
v3.26.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 125 $ 177
Other comprehensive income, net of tax –    
Financial derivatives 42 29
Defined benefit pension and other postretirement benefit plans 3 (6)
Foreign currency translations (29) 62
Total other comprehensive income, net of tax 16 85
Comprehensive income 141 262
Dividends on redeemable non-controlling interests (2) (2)
Comprehensive income attributable to the Company shareholders $ 139 $ 260
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 2,635 $ 3,443
Restricted cash 4 6
Inventories 3,635 3,533
Prepaid expenses and other current assets 777 612
Assets held for sale 749 757
Total current assets 11,057 10,868
Operating lease assets 1,510 1,514
Property, plant and equipment 25,875 25,802
Less: Accumulated depreciation (10,173) (9,969)
Property, plant and equipment, net 15,702 15,833
Equity investments 3,928 3,963
Goodwill 705 708
Intangible assets, net 417 450
Other assets 639 667
Total assets 33,958 34,003
Current liabilities:    
Current maturities of long-term debt 1,467 588
Short-term debt 226 226
Accrued and other current liabilities 1,905 1,956
Liabilities held for sale 692 665
Total current liabilities 7,188 6,129
Long-term debt 11,228 12,124
Operating lease liabilities 1,331 1,327
Other liabilities 1,703 1,900
Deferred income taxes 2,343 2,316
Commitments and contingencies
Redeemable non-controlling interests 114 114
Shareholders’ equity:    
Ordinary shares, €0.04 par value, 1,275 million shares authorized, 322,770,429 and 322,084,769 shares outstanding, respectively 19 19
Additional paid-in capital 6,124 6,148
Retained earnings 6,711 6,812
Accumulated other comprehensive loss (1,294) (1,310)
Treasury stock, at cost, 17,652,069 and 18,337,729 ordinary shares, respectively (1,520) (1,587)
Total Company share of shareholders’ equity 10,040 10,082
Non-controlling interests 11 11
Total equity 10,051 10,093
Total liabilities, redeemable non-controlling interests and equity 33,958 34,003
Trade    
Current assets:    
Accounts receivable: 2,984 2,362
Current liabilities:    
Accounts payable: 2,536 2,250
Related parties    
Current assets:    
Accounts receivable: 273 155
Current liabilities:    
Accounts payable: $ 362 $ 444
v3.26.1
Consolidated Balance Sheets (Parentheticals) - € / shares
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Ordinary shares par value (in euros per share) € 0.04 € 0.04
Ordinary shares, shares authorized (in shares) 1,275,000,000 1,275,000,000
Ordinary shares, shares issued (in shares) 322,770,429 322,084,769
Ordinary shares, shares outstanding (in shares) 322,770,429 322,084,769
Treasury stock, shares (in shares) 17,652,069 18,337,729
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 125 $ 177
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 342 323
Impairments 15 0
Amortization of debt-related costs 3 2
Share-based compensation 47 35
Equity investments—    
Equity (income) loss 5 (1)
Deferred income tax provision (benefit) 20 (25)
Changes in assets and liabilities that provided (used) cash:    
Accounts receivable (797) (440)
Inventories (96) (198)
Accounts payable 291 (78)
Other, net (224) (374)
Net cash used in operating activities (269) (579)
Cash flows from investing activities:    
Expenditures for property, plant and equipment (269) (483)
Proceeds from settlement of net investment hedges 0 59
Other, net (10) (6)
Net cash used in investing activities (279) (430)
Cash flows from financing activities:    
Repurchases of Company ordinary shares 0 (110)
Dividends paid - common stock (224) (433)
Other, net (12) (4)
Net cash used in financing activities (236) (547)
Effect of exchange rate changes on cash (26) 38
Decrease in cash and cash equivalents and restricted cash (810) (1,518)
Cash and cash equivalents and restricted cash at beginning of period 3,449 3,388
Cash and cash equivalents and restricted cash at end of period $ 2,639 $ 1,870
v3.26.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Millions
Total
Company Share of Shareholders’ Equity
Ordinary Shares, Issued
Ordinary Shares, Treasury
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Non- Controlling Interests
Beginning balance at Dec. 31, 2024   $ 12,462 $ 19 $ (1,500) $ 6,150 $ 9,325 $ (1,532) $ 12
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income $ 177 177       177   0
Other comprehensive income (loss) 85 85         85 0
Share-based compensation   32   51 (18) (1)   0
Dividends - common stock   (435)       (435)   0
Dividends - redeemable non-controlling interests (2) (2)       (2)   0
Repurchases of Company ordinary shares   (110)   (110)       0
Ending balance at Mar. 31, 2025   12,209 19 (1,559) 6,132 9,064 (1,447) 12
Beginning balance at Dec. 31, 2025 10,093 10,082 19 (1,587) 6,148 6,812 (1,310) 11
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 125 125       125   0
Other comprehensive income (loss) 16 16         16 0
Share-based compensation   43   67 (24)     0
Dividends - common stock   (224)       (224)   0
Dividends - redeemable non-controlling interests (2) (2)       (2)   0
Ending balance at Mar. 31, 2026 $ 10,051 $ 10,040 $ 19 $ (1,520) $ 6,124 $ 6,711 $ (1,294) $ 11
v3.26.1
Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Stockholders' Equity [Abstract]    
Common stock, dividends per share (in dollars per share) $ 0.69 $ 1.34
Redeemable non-controlling interests, dividends per share (in dollars per share) $ 15.00 $ 15.00
v3.26.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Disclosure Text Block [Abstract]  
Basis of Presentation Basis of Presentation
LyondellBasell Industries N.V. is a limited liability company (Naamloze Vennootschap) incorporated under Dutch law by deed of incorporation dated October 15, 2009. Unless otherwise indicated, the “Company,” “we,” “us,” “our” or similar words are used to refer to LyondellBasell Industries N.V. together with its consolidated subsidiaries (“LyondellBasell N.V.”). LyondellBasell N.V. is a worldwide manufacturer of chemicals and polymers, a significant producer of gasoline blending components and a developer and licensor of technologies for the production of polymers.
The accompanying unaudited Consolidated Financial Statements have been prepared from the books and records of LyondellBasell N.V. in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement have been included. These statements contain some amounts that are based upon management estimates and judgments. Future actual results could differ from such current estimates. The results for interim periods are not necessarily indicative of results for the entire year.
In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation. The related operating results of our refining business are reported as discontinued operations for all periods presented. Discontinued operations also include costs associated with the closure and dismantlement of our Berre refinery.
v3.26.1
Accounting and Reporting Changes
 3 Months Ended
Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]  
Accounting and Reporting Changes Accounting and Reporting Changes
Recently Adopted Guidance
Measurement of Credit Losses—In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. We elected the practical expedient provided by this ASU for estimating expected credit losses on current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The guidance is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. The adoption of this guidance at January 1, 2026 did not have a material impact on our Consolidated Financial Statements.
Accounting Guidance Issued But Not Adopted as of March 31, 2026
Grants—In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. This ASU provides guidance for recognition, measurement, and presentation of government grants. The guidance is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods and may be applied using either a modified prospective, a modified retrospective or a retrospective approach. Early adoption is permitted. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements.
Accounting for Software Costs—In September 2025, the FASB issued ASU 2025-06, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This guidance amends certain aspects of the accounting for and disclosure of software costs, including when entities start capitalizing eligible costs. This guidance also supersedes existing guidance on website development costs. The guidance is effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption
is permitted. We are currently assessing the impact the adoption will have on our Consolidated Financial Statements.
Expense Disaggregation Disclosures—In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income —Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires incremental disclosures about specific expense categories, including, but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. While permitted, we do not plan to early adopt this guidance. The guidance may be applied either prospectively or retrospectively. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements as the guidance relates only to disclosure.
v3.26.1
Discontinued Operations
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
Discontinued operations consists primarily of our refining business. The following table presents components of Income (loss) from discontinued operations, net of tax:

Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues$— $1,199 
Cost of sales— 1,001 
Selling, general and administrative expenses— 2 
Operating income (loss)— 196 
Other income (expense), net(18)— 
Provision for (benefit from) income taxes(4)42 
Income (loss) from discontinued operations, net of tax$(14)$154 
v3.26.1
Assets Held for Sale
 3 Months Ended
Mar. 31, 2026
Assets Held For Sale [Abstract]  
Assets Held for Sale Assets Held for Sale
In June 2025, we entered into an agreement for the sale of select European olefins and polyolefins assets and the associated business. The sites to be sold were part of the previously announced European strategic assessment and are located in Berre l’Etang (France), Münchsmünster (Germany), Carrington (United Kingdom), and Tarragona (Spain). These sites, identified for sale, are within our Olefins & Polyolefins-Europe, Asia, International (“O&P-EAI”) segment. The assets and liabilities associated with the business to be sold are classified as held for sale in the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025.
On May 1, 2026, we announced the completion of the sale and expect to record a pre-tax loss of approximately $700 million to $800 million, inclusive of a cash contribution of approximately $300 million to the sold businesses prior to closing and estimated closing costs, subject to customary post‑closing adjustments.
The following table summarizes the assets and liabilities classified as held for sale in the Consolidated Balance Sheets:
Millions of dollarsMarch 31, 2026December 31, 2025
ASSETS
Accounts receivable - Trade, net$297 $272 
Inventories365 407 
Prepaid expenses and other current assets28 22 
Operating lease assets30 12 
Equity investments27 28 
Other assets2 16 
Total assets held for sale$749 $757 
LIABILITIES
Accounts payable - Trade$247 $225 
Accrued and other current liabilities138 129 
Operating lease liabilities15 9 
Other liabilities262 272 
Deferred income taxes30 30 
Total liabilities held for sale$692 $665 
v3.26.1
Revenues
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Contract Balances—Contract liabilities were $139 million and $125 million as of March 31, 2026 and December 31, 2025, respectively. Revenue recognized in each reporting period that was included in the contract liability balance at the beginning of the period was immaterial.
Disaggregation of Revenues—The following table presents our revenues disaggregated by key products:
Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues:
Olefins and co-products$1,186 $1,066 
Polyethylene1,681 1,778 
Polypropylene1,344 1,538 
Propylene oxide and derivatives518 588 
Oxyfuels and related products1,134 1,131 
Intermediate chemicals348 541 
Compounding and solutions873 904 
Other113 131 
Total$7,197 $7,677 
The following table presents our revenues disaggregated by geography, based upon the location of the customer:
Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues:
United States$2,723 $2,855 
Germany588 616 
China333 480 
Mexico327 409 
Italy318 327 
France297 265 
Japan258 318 
Poland208 203 
The Netherlands198 166 
Other1,947 2,038 
Total$7,197 $7,677 
v3.26.1
Accounts Receivable
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
Accounts receivable are reflected in the Consolidated Balance Sheets, net of allowance for credit losses of $3 million as of March 31, 2026 and December 31, 2025.
v3.26.1
Inventories
 3 Months Ended
Mar. 31, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of the following components:
Millions of dollarsMarch 31,
2026		December 31,
2025
Finished goods$2,151 $2,238 
Work-in-process95 69 
Raw materials and supplies1,389 1,226 
Total inventories$3,635 $3,533 
During the first three months of 2025, inventory liquidations associated with our exit from the refinery business generated a last-in, first-out (“LIFO”) benefit of $196 million, net of tax, or $0.61 per diluted share. This benefit is reflected in Income (loss) from discontinued operations, net of tax in the Consolidated Statements of Income. See Note 3 for additional information.
v3.26.1
Debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Debt Debt
Long-term loans, notes and other debt, net of unamortized discount, debt issuance cost and cumulative fair value hedging adjustments, consisted of the following:
Millions of dollarsMarch 31,
2026		December 31,
2025
Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost)
$975 $975 
Guaranteed Notes due 2027, $300 million, 8.1%
300 300 
Issued by LYB International Finance B.V.:
Guaranteed Notes due 2043, $750 million, 5.25% ($17 million of discount; $6 million of debt issuance cost)
727 727 
Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost)
983 983 
Issued by LYB International Finance II B.V.:
Guaranteed Notes due 2026, €500 million, 0.875%
572 585 
Guaranteed Notes due 2027, $1,000 million, 3.5% ($1 million of discount)
589 590 
Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost)
563 577 
Issued by LYB International Finance III LLC:
Guaranteed Notes due 2030, $500 million, 3.375%
144 142 
Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $2 million of debt issuance cost)
482 481 
Guaranteed Notes due 2031, $500 million, 5.125% ($1 million of discount; $4 million of debt issuance cost)
495 495 
Guaranteed Notes due 2033, $500 million, 5.625% ($4 million of debt issuance cost)
496 496 
Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $6 million of debt issuance cost)
739 739 
Guaranteed Notes due 2035, $500 million, 6.150% ($1 million of discount, $5 million of debt issuance cost
494 494 
Guaranteed Notes due 2036, $1,000 million, 5.875% ($7 million of discount, $9 million of debt issuance cost
984 984 
Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $6 million of debt issuance cost)
743 743 
Guaranteed Notes due 2049, $1,000 million, 4.2% ($13 million of discount; $10 million of debt issuance cost)
977 977 
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost)
971 971 
Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $9 million of debt issuance cost)
951 952 
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost)
486 487 
Other24 14 
Total12,695 12,712 
Less current maturities(1,467)(588)
Long-term debt$11,228 $12,124 
Fair value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: 
Gains (Losses)Cumulative Fair Value
Hedging Adjustments Included
in Carrying Amount of Debt
Three Months Ended
March 31,		March 31,December 31,
Millions of dollars2026202520262025
Guaranteed Notes due 2025, 1.25%
$— $(1)$— $— 
Guaranteed Notes due 2026, 0.875%
— — 2 2 
Guaranteed Notes due 2027, 3.5%
1 (3)1 — 
Guaranteed Notes due 2030, 3.375%
— (3)(2)(2)
Guaranteed Notes due 2030, 2.25%
— (2)14 14 
Guaranteed Notes due 2031, 1.625%
1 2 6 5 
Guaranteed Notes due 2050, 4.2%
— (1)13 13 
Guaranteed Notes due 2051, 3.625%
1 (14)38 37 
Guaranteed Notes due 2060, 3.8%
1 (3)5 4 
Total$4 $(25)$77 $73 
Fair value adjustments are recognized in Interest expense in the Consolidated Statements of Income.
Long-Term Debt
Senior Revolving Credit Facility—Our $3,750 million senior unsecured revolving credit facility (the “Senior Revolving Credit Facility”), which expires in July 2029, may be used for dollar and euro denominated borrowings. As of March 31, 2026, we had no borrowings or letters of credit outstanding and $3,750 million of unused availability under this facility.

Short-Term Debt
U.S. Receivables Facility—Our U.S. Receivables Facility, which expires in June 2026, has a purchase limit of $900 million in addition to a $300 million uncommitted accordion feature. As of March 31, 2026, we had no borrowings or letters of credit outstanding and $900 million unused availability under this facility.
Commercial Paper Program—We have a commercial paper program under which we may issue up to $2,500 million of privately placed, unsecured, short-term promissory notes (“commercial paper”). As of March 31, 2026, we had no borrowings of outstanding commercial paper.
Precious Metal Financings—At March 31, 2026 and December 31, 2025, we had $226 million of Short-term debt related to our precious metal financings.
Weighted Average Interest Rate—As of March 31, 2026 and December 31, 2025, our weighted average interest rate on outstanding Short-term debt was 2.7%.
Additional Information
Debt Compliance—As of March 31, 2026, we are in compliance with our debt covenants.
v3.26.1
Financial Instruments and Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements
We are exposed to market risks, such as changes in commodity pricing, interest rates and currency exchange rates. To manage the volatility related to these exposures, we selectively enter into derivative contracts pursuant to our risk management policies.
Financial Instruments Measured at Fair Value on a Recurring Basis—The following table summarizes financial instruments outstanding for the periods presented that are measured at fair value on a recurring basis:
Fair Value
Millions of dollarsMarch 31, 2026December 31, 2025Balance Sheet Classification
Assets–
Derivatives designated as hedges:
Commodities$38 $— Prepaid expenses and other current assets
Commodities13 4 Other assets
Foreign currency15 19 Prepaid expenses and other current assets
Foreign currency7 — Other assets
Interest rates25 16 Prepaid expenses and other current assets
Derivatives not designated as hedges:
Commodities13 5 Prepaid expenses and other current assets
Foreign currency2 — Prepaid expenses and other current assets
Total$113 $44 
Liabilities–
Derivatives designated as hedges:
Commodities$20 $33 Accrued and other current liabilities
Commodities9 8 Other liabilities
Foreign currency81 15 Accrued and other current liabilities
Foreign currency62 199 Other liabilities
Interest rates30 27 Accrued and other current liabilities
Interest rates75 79 Other liabilities
Derivatives not designated as hedges:
Commodities50 42 Accrued and other current liabilities
Foreign currency6 5 Accrued and other current liabilities
Total$333 $408 
The financial instruments in the table above are classified as Level 2. We present the gross assets and liabilities of our derivative instruments on the Consolidated Balance Sheets.
Financial Instruments Not Measured at Fair Value on a Recurring Basis—The following table presents the carrying value and estimated fair value of our short-term precious metal financings and Long-term debt:
March 31, 2026December 31, 2025
Millions of dollarsCarrying
 Value		Fair
 Value		Carrying
 Value		Fair
Value
Precious metal financings$226 $258 $226 $263 
Long-term debt11,208 9,492 12,113 10,501 
Total$11,434 $9,750 $12,339 $10,764 
The financial instruments in the table above are classified as Level 2. Our other financial instruments classified within Current assets and Current liabilities have a short maturity and their carrying value approximates fair value.
Derivative Instruments:
Commodity Prices—The following table presents the notional amounts of our outstanding commodity derivative instruments:
Notional AmountUnit of MeasureMaturity Date
Millions of unitsMarch 31, 2026December 31, 2025
Derivatives designated as hedges:
Natural gas46 51 MMBtu
2026 to 2028
Ethane11 13 Bbls
2026 to 2028
Power1 1 MWhs
2026 to 2028
Derivatives not designated as hedges:
Ethane1 6 Bbls2026
Other commodities4 3 Bbls2026 to 2028
Interest Rates—The following table presents the notional amounts of our outstanding interest rate derivative instruments:
Notional Amount
Millions of dollarsMarch 31, 2026December 31, 2025Maturity Date
Fair value hedges$1,879 $1,885 
2026 to 2031
Foreign Currency Rates—The following table presents the notional amounts of our outstanding foreign currency derivative instruments:
Notional Amount
Millions of dollarsMarch 31, 2026December 31, 2025Maturity Date
Net investment hedges$2,465 $2,465 
2027 to 2032
Cash flow hedges294 294 2027
Not designated324 295 2026
Impact on Earnings and Other Comprehensive Income—The following tables summarize the pre-tax effect of derivative instruments recorded in Accumulated other comprehensive income (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings:
Effects of Financial Instruments
Three Months Ended March 31,
Balance SheetIncome Statement
Gain (Loss)
Recognized in
AOCI		Gain (Loss) Reclassified
to Income
from AOCI		Additional Gain
(Loss) Recognized
in Income		Income Statement
Millions of dollars202620252026202520262025Classification
Derivatives designated as hedges:
Commodities$58 $37 $(2)$(2)$— $— Cost of sales
Foreign currency74 (119)(7)11 10 12 Interest expense
Interest rates— — 1 1 (12)13 Interest expense
Derivatives not designated as hedges:
Commodities— — — — (8)— Sales and other operating revenues
Commodities— — — — 15 (19)Cost of sales
Commodities— — — — — 8 Income (loss) from discontinued operations, net of tax
Foreign currency— — — — 4 (29)Other income, net
Total$132 $(82)$(8)$10 $9 $(15)
As of March 31, 2026, on a pre-tax basis, $5 million is scheduled to be reclassified from AOCI as an increase to Interest expense over the next twelve months.
Other Financial Instruments:
Cash and Cash Equivalents—As of March 31, 2026 and December 31, 2025, we had marketable securities classified as Cash and cash equivalents of $1,469 million and $2,030 million, respectively.
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For interim tax reporting, we estimate an annual effective tax rate which is applied to the year-to-date ordinary income. Tax effects of significant, unusual, or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. Our effective income tax rate fluctuates based on, among other factors, changes in pre-tax income in countries with varying statutory tax rates, changes in valuation allowances, changes in foreign exchange gains or losses, the amount of nontaxable or nondeductible items, changes in unrecognized tax benefits associated with uncertain tax positions and changes in tax laws.
Our effective income tax rate for the first quarter of 2026 was (1.5)% compared to 61.0% for the first quarter of 2025. The lower effective tax rate for the first quarter of 2026 was due to foreign exchange losses coupled with a tax benefit associated with a tax refund claim that decreased the effective tax rate by 28.6 percentage points and 11.4 percentage points, respectively. In addition, changes in earnings in countries with varying statutory tax rates decreased the effective tax rate by 17.5 percentage points.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Commitments—We have various purchase commitments for materials, supplies and services incidental to the ordinary conduct of business, generally for quantities required for our businesses and at prevailing market prices. These commitments are designed to ensure sources of supply and are not expected to be in excess of normal requirements. Additionally, we have capital expenditure commitments, which we incur in our normal course of business.
Financial Assurance Instruments—We have obtained letters of credit, performance and surety bonds and have issued financial and performance guarantees to support trade payables, potential liabilities and other obligations. Considering the frequency of claims made against the financial instruments we use to support our obligations, and the magnitude of those financial instruments in light of our current financial position, we do not expect that any claims made against or draws on these financial instruments would have a material adverse effect on the Consolidated Financial Statements. We have not experienced any unmanageable difficulties in obtaining the required financial assurance instruments for our current operations.
Environmental Remediation—Accrued liabilities for future environmental remediation costs at current and former plant sites and other remediation sites totaled $177 million as of March 31, 2026, and $178 million as of December 31, 2025. For each period, $74 million was classified as Liabilities held for sale. The remaining balances are included in Accrued and other current liabilities and Other liabilities on the Consolidated Balance Sheets.
As of March 31, 2026, the accrued liabilities for individual sites range from less than $1 million to $56 million. The remediation expenditures are expected to occur over a number of years and are not concentrated in any single year. In our opinion, it is reasonably possible that losses in excess of the liabilities recorded may have been incurred. However, we cannot estimate any amount or range of such possible additional losses. New information about sites, new technology or future developments, such as involvement in investigations by regulatory agencies, could require us to reassess our potential exposure related to environmental matters.
Indemnification—We are parties to various indemnification arrangements, including arrangements entered into in connection with acquisitions, divestitures and the formation and dissolution of joint ventures. Pursuant to these arrangements, we provide indemnification to and/or receive indemnification from other parties in connection with liabilities that may arise in connection with the transactions and in connection with activities prior to completion of the transactions. These indemnification arrangements typically include provisions pertaining to third-party claims relating to environmental and tax matters, as well as various types of litigation. As of March 31, 2026, we had not accrued any significant amounts for our indemnification obligations, and we are not aware of other circumstances that would likely lead to significant future indemnification obligations. We cannot determine with certainty the potential amount of future payments under the indemnification arrangements until events arise that would trigger a liability under the arrangements.
As part of our technology licensing contracts, we give indemnifications to our licensees for liabilities arising from possible patent infringement claims with respect to certain proprietary licensed technologies. Such indemnifications have a stated maximum amount and generally cover a period of 5 to 10 years.
Legal Proceedings—We are subject to various lawsuits and claims, including but not limited to, matters involving contract disputes, tort claims, tax proceedings, and regulatory disputes alleging environmental damage, personal injury and/or property damage, some of which are covered by insurance. We vigorously defend ourselves and prosecute these matters as appropriate.
Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor legal proceedings in which we are a party. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial, mediation or other resolution. We regularly assess the adequacy of legal accruals based on our professional judgment, experience and the information available regarding our cases.
Based on consideration of all relevant facts and circumstances, we do not believe the ultimate outcome of any currently pending lawsuit or claim against us will have a material adverse effect upon our operations, financial condition or Consolidated Financial Statements.
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests
 3 Months Ended
Mar. 31, 2026
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]  
Shareholders' Equity and Redeemable Non-controlling Interests Shareholders’ Equity and Redeemable Non-controlling Interests
Shareholders’ Equity
Dividend Distributions—The following table summarizes the quarterly dividends paid in the period presented:
Millions of dollars, except per share amountsDividend Per
Ordinary Share		Aggregate
Dividends Paid		Date of Record
March 2026$0.69 $224 March 2, 2026
Share Repurchase Authorization—In May 2025, our shareholders approved a proposal to authorize us to repurchase up to 34.0 million ordinary shares, through November 23, 2026 (“2025 Share Repurchase Authorization”), which superseded any prior repurchase authorizations. The timing and amount of these repurchases, which are determined based on our evaluation of market conditions and other factors, may be executed from time to time through open market or privately negotiated transactions. In September 2025, we amended our Senior Revolving Credit Facility which now restricts share repurchases except to offset dilution. The repurchased shares, which are recorded at cost, are classified as Treasury stock and may be retired or used for general corporate purposes, including for various employee benefit and compensation plans. As of April 29, 2026, we had approximately 34.0 million shares remaining under the current authorization.
Total cash paid for share repurchases for the three months ended March 31, 2025 was $110 million. There were no repurchases during the three months ended March 31, 2026.
The following table summarizes our share repurchase activity for the three months ended March 31, 2025:
Millions of dollars, except shares and per share amountsShares
Repurchased		Average
Purchase
Price Per Share		Total Purchase Price, Including
Commissions and Fees
2024 Share Repurchase Authorization1,485,648 $74.29 $110 
Ordinary Shares—The changes in the outstanding amounts of ordinary shares are as follows:
 Three Months Ended
March 31,
 20262025
Ordinary shares outstanding:
Beginning balance322,084,769 323,889,832 
Share-based compensation514,683 424,241 
Employee stock purchase plan170,977 116,659 
Purchase of ordinary shares— (1,485,648)
Ending balance322,770,429 322,945,084 
Treasury Shares—The changes in the amounts of treasury shares held by the Company are as follows:
Three Months Ended
March 31,
 20262025
Ordinary shares held as treasury shares:
Beginning balance18,337,729 16,532,666 
Share-based compensation(514,683)(424,241)
Employee stock purchase plan(170,977)(116,659)
Purchase of ordinary shares— 1,485,648 
Ending balance17,652,069 17,477,414 
Accumulated Other Comprehensive Loss—The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the three months ended March 31, 2026 and 2025 are presented in the following tables.
Foreign currency translation adjustments below include currency translation adjustments as well as gains (losses) on net investment hedges; the associated tax benefits or expenses are calculated separately for each component.
Millions of dollarsFinancial
Derivatives		Defined Benefit
Pension and Other
Postretirement
Benefit Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2025$(133)$(236)$(941)$(1,310)
Other comprehensive income (loss) before reclassifications66 — (13)53 
Tax expense before reclassifications(18)— (16)(34)
Amounts reclassified from accumulated other comprehensive loss(8)4 — (4)
Tax (expense) benefit2 (1)— 1 
Net other comprehensive income (loss)42 3 (29)16 
Balance – March 31, 2026$(91)$(233)$(970)$(1,294)
Millions of dollarsFinancial
Derivatives		Defined Benefit
Pension and Other
Postretirement
Benefit Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2024$(111)$(281)$(1,140)$(1,532)
Other comprehensive income (loss) before reclassifications27 (3)33 57 
Tax (expense) benefit before reclassifications(5)1 29 25 
Amounts reclassified from accumulated other comprehensive loss10 (5)— 5 
Tax (expense) benefit(3)1 — (2)
Net other comprehensive income (loss)29 (6)62 85 
Balance – March 31, 2025$(82)$(287)$(1,078)$(1,447)
The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: 
 Three Months Ended
March 31,		Affected Line Item on
the Consolidated
Statements of Income
Millions of dollars20262025
Reclassification adjustments for:
Financial derivatives:
Commodities$(2)$(2)Cost of sales
Foreign currency(7)11 Interest expense
Interest rates1 1 Interest expense
Income tax (expense) benefit2 (3)Provision for (benefit from) income taxes
Financial derivatives, net of tax(6)7 
Amortization of defined pension items:
Actuarial loss3 3 Other income, net
Prior service cost1 1 Other income, net
Curtailment gain— (9)Income (loss) from discontinued operations, net of tax
Income tax (expense) benefit(1)1 Provision for (benefit from) income taxes
Defined pension items, net of tax3 (4)
Total reclassifications, before tax(4)5 
Income tax (expense) benefit1 (2)Provision for (benefit from) income taxes
Total reclassifications, after tax$(3)$3 Amount included in net income
Redeemable Non-controlling Interests
Our redeemable non-controlling interests relate to shares of cumulative perpetual special stock (“redeemable non-controlling interest stock”) issued by a consolidated subsidiary. As of March 31, 2026 and December 31, 2025, we had 112,964 shares of redeemable non-controlling interest stock outstanding. These shares may be redeemed at any time at the discretion of the holders.
In January 2026, we paid cash dividends of $15.00 per share to our redeemable non-controlling interest shareholders of record as of January 15, 2026. These dividends totaled $2 million for each of the three month periods ended March 31, 2026 and 2025.
v3.26.1
Per Share Data
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Per Share Data Per Share Data
Basic earnings (loss) per share is based upon the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share includes the effect of certain stock options and other equity-based compensation awards. Our unvested restricted stock units contain non-forfeitable rights to dividend equivalents and are considered participating securities. We compute basic and diluted earnings (loss) per share under the two-class method.
Earnings (loss) per share data is as follows:
 Three Months Ended March 31,
20262025
Millions of dollarsContinuing
Operations		Discontinued
Operations		Continuing
Operations		Discontinued
Operations
Net income (loss)$139 $(14)$23 $154 
Dividends on redeemable non-controlling interests(2)— (2)— 
Net income attributable to participating securities— — (2)— 
Net income (loss) attributable to ordinary shareholders – basic and diluted$137 $(14)$19 $154 
Millions of shares, except per share amounts
Basic weighted average common stock outstanding322 322 324 324 
Effect of dilutive securities1 1 — — 
Diluted weighted average common stock outstanding323 323 324 324 
Earnings (loss) per share:
Basic$0.42 $(0.04)$0.06 $0.48 
Diluted$0.42 $(0.04)$0.06 $0.48 
v3.26.1
Segment and Related Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
Our operations are managed by senior executives who report to our Chief Executive Officer, the chief operating decision maker. Discrete financial information is available for each of the segments. The Chief Executive Officer uses EBITDA as the primary measure for reviewing the profitability of our segments and allocating resources to the segments. We define EBITDA as net income before interest, income taxes, and depreciation and amortization. Our chief operating decision maker does not receive information about total assets by reportable segment.
The activities of each of our segments from which they earn revenues and incur expenses are described below: 
•Olefins and Polyolefins-Americas (“O&P-Americas”). Our O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
•Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”). Our O&P-EAI segment produces and markets olefins and co-products, polyethylene and polypropylene.
•Intermediates and Derivatives (“I&D”). Our I&D segment produces and markets propylene oxide and its derivatives; oxyfuels and related products; and intermediate chemicals such as styrene monomer and acetyls.
•Advanced Polymer Solutions (“APS”). Our APS segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, and colors.
•Technology. Our Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts.
“Other” includes intersegment eliminations and items that are not directly related or allocated to business operations, such as foreign exchange gains or losses and components of pension and other postretirement benefit costs other than service costs. Sales between segments are made at prices approximating prevailing market prices.
Summarized financial information concerning reportable segments is shown in the following tables for the periods presented:
 Three Months Ended March 31, 2026
Millions of dollars O&P–
Americas		O&P–
EAI		I&DAPSTechnologyOtherTotal
Sales and other operating revenues:
Customers$1,920 $2,300 $2,023 $873 $81 $— $7,197 
Intersegment517 201 37 3 25 (783)— 
2,437 2,501 2,060 876 106 (783)7,197 
Less:
Cost of sales2,179 2,431 1,861 750 60 (785)6,496 
Impairments— 15 — — — — 15 
(Income) loss from equity investments(9)15 (1)— — — 5 
Other items104 118 80 88 39 8 437 
Add:
Depreciation and amortization expense164 43 104 20 11 — 342 
EBITDA$327 $(35)$224 $58 $18 $(6)$586 
Capital expenditures$120 $61 $58 $17 $13 $— $269 
 Three Months Ended March 31, 2025
Millions of dollarsO&P–
Americas		O&P–
EAI		I&DAPSTechnologyOtherTotal
Sales and other operating revenues:
Customers$1,957 $2,435 $2,282 $904 $99 $— $7,677 
Intersegment524 165 16 4 21 (730)— 
2,481 2,600 2,298 908 120 (730)7,677 
Less:
Cost of sales2,273 2,510 2,233 800 44 (732)7,128 
(Income) loss from equity investments(7)6 — — — — (1)
Other items119 106 70 82 34 3 414 
Add:
Depreciation and amortization expense155 39 99 20 10 — 323 
EBITDA$251 $17 $94 $46 $52 $(1)$459 
Capital expenditures$216 $124 $91 $30 $22 $— $483 
Other items include Selling, general and administrative (“SG&A”) expenses, Research and development expenses, and Other income, net.
A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented:
 Three Months Ended
March 31,
Millions of dollars20262025
EBITDA:
Total segment EBITDA$592 $460 
Other EBITDA(6)(1)
Less:
Depreciation and amortization expense(342)(323)
Interest expense(138)(107)
Add:
Interest income31 30 
Income from continuing operations before income taxes$137 $59 
Closure of European PO Joint Venture—In March 2025, we announced the permanent closure of our European PO Joint Venture. During the three months ended March 31, 2025, we recognized $117 million of costs associated with the closure which are reflected in Cost of sales in the Consolidated Statements of Income.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Accounting and Reporting Changes (Policies)
 3 Months Ended
Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]  
Recently Adopted Guidance and Accounting Guidance Issued But Not Adopted
Recently Adopted Guidance
Measurement of Credit Losses—In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. We elected the practical expedient provided by this ASU for estimating expected credit losses on current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The guidance is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. The adoption of this guidance at January 1, 2026 did not have a material impact on our Consolidated Financial Statements.
Accounting Guidance Issued But Not Adopted as of March 31, 2026
Grants—In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. This ASU provides guidance for recognition, measurement, and presentation of government grants. The guidance is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods and may be applied using either a modified prospective, a modified retrospective or a retrospective approach. Early adoption is permitted. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements.
Accounting for Software Costs—In September 2025, the FASB issued ASU 2025-06, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This guidance amends certain aspects of the accounting for and disclosure of software costs, including when entities start capitalizing eligible costs. This guidance also supersedes existing guidance on website development costs. The guidance is effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption
is permitted. We are currently assessing the impact the adoption will have on our Consolidated Financial Statements.
Expense Disaggregation Disclosures—In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income —Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires incremental disclosures about specific expense categories, including, but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. While permitted, we do not plan to early adopt this guidance. The guidance may be applied either prospectively or retrospectively. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements as the guidance relates only to disclosure.
v3.26.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations The following table presents components of Income (loss) from discontinued operations, net of tax:
Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues$— $1,199 
Cost of sales— 1,001 
Selling, general and administrative expenses— 2 
Operating income (loss)— 196 
Other income (expense), net(18)— 
Provision for (benefit from) income taxes(4)42 
Income (loss) from discontinued operations, net of tax$(14)$154 
v3.26.1
Assets Held for Sale (Tables)
 3 Months Ended
Mar. 31, 2026
Assets Held For Sale [Abstract]  
Summary of Balance Sheet Disclosure
The following table summarizes the assets and liabilities classified as held for sale in the Consolidated Balance Sheets:
Millions of dollarsMarch 31, 2026December 31, 2025
ASSETS
Accounts receivable - Trade, net$297 $272 
Inventories365 407 
Prepaid expenses and other current assets28 22 
Operating lease assets30 12 
Equity investments27 28 
Other assets2 16 
Total assets held for sale$749 $757 
LIABILITIES
Accounts payable - Trade$247 $225 
Accrued and other current liabilities138 129 
Operating lease liabilities15 9 
Other liabilities262 272 
Deferred income taxes30 30 
Total liabilities held for sale$692 $665 
v3.26.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
Disaggregation of Revenues—The following table presents our revenues disaggregated by key products:
Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues:
Olefins and co-products$1,186 $1,066 
Polyethylene1,681 1,778 
Polypropylene1,344 1,538 
Propylene oxide and derivatives518 588 
Oxyfuels and related products1,134 1,131 
Intermediate chemicals348 541 
Compounding and solutions873 904 
Other113 131 
Total$7,197 $7,677 
The following table presents our revenues disaggregated by geography, based upon the location of the customer:
Three Months Ended
March 31,
Millions of dollars20262025
Sales and other operating revenues:
United States$2,723 $2,855 
Germany588 616 
China333 480 
Mexico327 409 
Italy318 327 
France297 265 
Japan258 318 
Poland208 203 
The Netherlands198 166 
Other1,947 2,038 
Total$7,197 $7,677 
v3.26.1
Inventories (Tables)
 3 Months Ended
Mar. 31, 2026
Inventory Disclosure [Abstract]  
Schedule of inventory
Inventories consisted of the following components:
Millions of dollarsMarch 31,
2026		December 31,
2025
Finished goods$2,151 $2,238 
Work-in-process95 69 
Raw materials and supplies1,389 1,226 
Total inventories$3,635 $3,533 
v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of long-term debt
Long-term loans, notes and other debt, net of unamortized discount, debt issuance cost and cumulative fair value hedging adjustments, consisted of the following:
Millions of dollarsMarch 31,
2026		December 31,
2025
Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost)
$975 $975 
Guaranteed Notes due 2027, $300 million, 8.1%
300 300 
Issued by LYB International Finance B.V.:
Guaranteed Notes due 2043, $750 million, 5.25% ($17 million of discount; $6 million of debt issuance cost)
727 727 
Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost)
983 983 
Issued by LYB International Finance II B.V.:
Guaranteed Notes due 2026, €500 million, 0.875%
572 585 
Guaranteed Notes due 2027, $1,000 million, 3.5% ($1 million of discount)
589 590 
Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost)
563 577 
Issued by LYB International Finance III LLC:
Guaranteed Notes due 2030, $500 million, 3.375%
144 142 
Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $2 million of debt issuance cost)
482 481 
Guaranteed Notes due 2031, $500 million, 5.125% ($1 million of discount; $4 million of debt issuance cost)
495 495 
Guaranteed Notes due 2033, $500 million, 5.625% ($4 million of debt issuance cost)
496 496 
Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $6 million of debt issuance cost)
739 739 
Guaranteed Notes due 2035, $500 million, 6.150% ($1 million of discount, $5 million of debt issuance cost
494 494 
Guaranteed Notes due 2036, $1,000 million, 5.875% ($7 million of discount, $9 million of debt issuance cost
984 984 
Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $6 million of debt issuance cost)
743 743 
Guaranteed Notes due 2049, $1,000 million, 4.2% ($13 million of discount; $10 million of debt issuance cost)
977 977 
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost)
971 971 
Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $9 million of debt issuance cost)
951 952 
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost)
486 487 
Other24 14 
Total12,695 12,712 
Less current maturities(1,467)(588)
Long-term debt$11,228 $12,124 
Fair value hedging adjustments associated with the fair value hedge accounting of our fixed-for-floating interest rate swaps for the applicable periods are as follows: 
Gains (Losses)Cumulative Fair Value
Hedging Adjustments Included
in Carrying Amount of Debt
Three Months Ended
March 31,		March 31,December 31,
Millions of dollars2026202520262025
Guaranteed Notes due 2025, 1.25%
$— $(1)$— $— 
Guaranteed Notes due 2026, 0.875%
— — 2 2 
Guaranteed Notes due 2027, 3.5%
1 (3)1 — 
Guaranteed Notes due 2030, 3.375%
— (3)(2)(2)
Guaranteed Notes due 2030, 2.25%
— (2)14 14 
Guaranteed Notes due 2031, 1.625%
1 2 6 5 
Guaranteed Notes due 2050, 4.2%
— (1)13 13 
Guaranteed Notes due 2051, 3.625%
1 (14)38 37 
Guaranteed Notes due 2060, 3.8%
1 (3)5 4 
Total$4 $(25)$77 $73 
v3.26.1
Financial Instruments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of fair value of outstanding financial instruments
Financial Instruments Measured at Fair Value on a Recurring Basis—The following table summarizes financial instruments outstanding for the periods presented that are measured at fair value on a recurring basis:
Fair Value
Millions of dollarsMarch 31, 2026December 31, 2025Balance Sheet Classification
Assets–
Derivatives designated as hedges:
Commodities$38 $— Prepaid expenses and other current assets
Commodities13 4 Other assets
Foreign currency15 19 Prepaid expenses and other current assets
Foreign currency7 — Other assets
Interest rates25 16 Prepaid expenses and other current assets
Derivatives not designated as hedges:
Commodities13 5 Prepaid expenses and other current assets
Foreign currency2 — Prepaid expenses and other current assets
Total$113 $44 
Liabilities–
Derivatives designated as hedges:
Commodities$20 $33 Accrued and other current liabilities
Commodities9 8 Other liabilities
Foreign currency81 15 Accrued and other current liabilities
Foreign currency62 199 Other liabilities
Interest rates30 27 Accrued and other current liabilities
Interest rates75 79 Other liabilities
Derivatives not designated as hedges:
Commodities50 42 Accrued and other current liabilities
Foreign currency6 5 Accrued and other current liabilities
Total$333 $408 
Schedule of the carrying value and estimated fair value of non-derivative financial instruments
Financial Instruments Not Measured at Fair Value on a Recurring Basis—The following table presents the carrying value and estimated fair value of our short-term precious metal financings and Long-term debt:
March 31, 2026December 31, 2025
Millions of dollarsCarrying
 Value		Fair
 Value		Carrying
 Value		Fair
Value
Precious metal financings$226 $258 $226 $263 
Long-term debt11,208 9,492 12,113 10,501 
Total$11,434 $9,750 $12,339 $10,764 
Summary of commodity derivatives
Commodity Prices—The following table presents the notional amounts of our outstanding commodity derivative instruments:
Notional AmountUnit of MeasureMaturity Date
Millions of unitsMarch 31, 2026December 31, 2025
Derivatives designated as hedges:
Natural gas46 51 MMBtu
2026 to 2028
Ethane11 13 Bbls
2026 to 2028
Power1 1 MWhs
2026 to 2028
Derivatives not designated as hedges:
Ethane1 6 Bbls2026
Other commodities4 3 Bbls2026 to 2028
Summary of interest rate derivatives
Interest Rates—The following table presents the notional amounts of our outstanding interest rate derivative instruments:
Notional Amount
Millions of dollarsMarch 31, 2026December 31, 2025Maturity Date
Fair value hedges$1,879 $1,885 
2026 to 2031
Summary of foreign currency hedges
Foreign Currency Rates—The following table presents the notional amounts of our outstanding foreign currency derivative instruments:
Notional Amount
Millions of dollarsMarch 31, 2026December 31, 2025Maturity Date
Net investment hedges$2,465 $2,465 
2027 to 2032
Cash flow hedges294 294 2027
Not designated324 295 2026
Summary of the impact of financial instruments on earnings and other comprehensive income
Impact on Earnings and Other Comprehensive Income—The following tables summarize the pre-tax effect of derivative instruments recorded in Accumulated other comprehensive income (“AOCI”), the gains (losses) reclassified from AOCI to earnings and additional gains (losses) recognized directly in earnings:
Effects of Financial Instruments
Three Months Ended March 31,
Balance SheetIncome Statement
Gain (Loss)
Recognized in
AOCI		Gain (Loss) Reclassified
to Income
from AOCI		Additional Gain
(Loss) Recognized
in Income		Income Statement
Millions of dollars202620252026202520262025Classification
Derivatives designated as hedges:
Commodities$58 $37 $(2)$(2)$— $— Cost of sales
Foreign currency74 (119)(7)11 10 12 Interest expense
Interest rates— — 1 1 (12)13 Interest expense
Derivatives not designated as hedges:
Commodities— — — — (8)— Sales and other operating revenues
Commodities— — — — 15 (19)Cost of sales
Commodities— — — — — 8 Income (loss) from discontinued operations, net of tax
Foreign currency— — — — 4 (29)Other income, net
Total$132 $(82)$(8)$10 $9 $(15)
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests (Tables)
 3 Months Ended
Mar. 31, 2026
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]  
Dividend distributions
Dividend Distributions—The following table summarizes the quarterly dividends paid in the period presented:
Millions of dollars, except per share amountsDividend Per
Ordinary Share		Aggregate
Dividends Paid		Date of Record
March 2026$0.69 $224 March 2, 2026
Schedule of share repurchase authorization
The following table summarizes our share repurchase activity for the three months ended March 31, 2025:
Millions of dollars, except shares and per share amountsShares
Repurchased		Average
Purchase
Price Per Share		Total Purchase Price, Including
Commissions and Fees
2024 Share Repurchase Authorization1,485,648 $74.29 $110 
Schedule of changes in ordinary and treasury shares outstanding during the period
Ordinary Shares—The changes in the outstanding amounts of ordinary shares are as follows:
 Three Months Ended
March 31,
 20262025
Ordinary shares outstanding:
Beginning balance322,084,769 323,889,832 
Share-based compensation514,683 424,241 
Employee stock purchase plan170,977 116,659 
Purchase of ordinary shares— (1,485,648)
Ending balance322,770,429 322,945,084 
Treasury Shares—The changes in the amounts of treasury shares held by the Company are as follows:
Three Months Ended
March 31,
 20262025
Ordinary shares held as treasury shares:
Beginning balance18,337,729 16,532,666 
Share-based compensation(514,683)(424,241)
Employee stock purchase plan(170,977)(116,659)
Purchase of ordinary shares— 1,485,648 
Ending balance17,652,069 17,477,414 
Schedule of accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Loss—The components of, and after-tax changes in, Accumulated other comprehensive loss as of and for the three months ended March 31, 2026 and 2025 are presented in the following tables.
Foreign currency translation adjustments below include currency translation adjustments as well as gains (losses) on net investment hedges; the associated tax benefits or expenses are calculated separately for each component.
Millions of dollarsFinancial
Derivatives		Defined Benefit
Pension and Other
Postretirement
Benefit Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2025$(133)$(236)$(941)$(1,310)
Other comprehensive income (loss) before reclassifications66 — (13)53 
Tax expense before reclassifications(18)— (16)(34)
Amounts reclassified from accumulated other comprehensive loss(8)4 — (4)
Tax (expense) benefit2 (1)— 1 
Net other comprehensive income (loss)42 3 (29)16 
Balance – March 31, 2026$(91)$(233)$(970)$(1,294)
Millions of dollarsFinancial
Derivatives		Defined Benefit
Pension and Other
Postretirement
Benefit Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2024$(111)$(281)$(1,140)$(1,532)
Other comprehensive income (loss) before reclassifications27 (3)33 57 
Tax (expense) benefit before reclassifications(5)1 29 25 
Amounts reclassified from accumulated other comprehensive loss10 (5)— 5 
Tax (expense) benefit(3)1 — (2)
Net other comprehensive income (loss)29 (6)62 85 
Balance – March 31, 2025$(82)$(287)$(1,078)$(1,447)
Reclassification out of accumulated other comprehensive income (loss)
The amounts reclassified out of each component of Accumulated other comprehensive loss are as follows: 
 Three Months Ended
March 31,		Affected Line Item on
the Consolidated
Statements of Income
Millions of dollars20262025
Reclassification adjustments for:
Financial derivatives:
Commodities$(2)$(2)Cost of sales
Foreign currency(7)11 Interest expense
Interest rates1 1 Interest expense
Income tax (expense) benefit2 (3)Provision for (benefit from) income taxes
Financial derivatives, net of tax(6)7 
Amortization of defined pension items:
Actuarial loss3 3 Other income, net
Prior service cost1 1 Other income, net
Curtailment gain— (9)Income (loss) from discontinued operations, net of tax
Income tax (expense) benefit(1)1 Provision for (benefit from) income taxes
Defined pension items, net of tax3 (4)
Total reclassifications, before tax(4)5 
Income tax (expense) benefit1 (2)Provision for (benefit from) income taxes
Total reclassifications, after tax$(3)$3 Amount included in net income
v3.26.1
Per Share Data (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted
Earnings (loss) per share data is as follows:
 Three Months Ended March 31,
20262025
Millions of dollarsContinuing
Operations		Discontinued
Operations		Continuing
Operations		Discontinued
Operations
Net income (loss)$139 $(14)$23 $154 
Dividends on redeemable non-controlling interests(2)— (2)— 
Net income attributable to participating securities— — (2)— 
Net income (loss) attributable to ordinary shareholders – basic and diluted$137 $(14)$19 $154 
Millions of shares, except per share amounts
Basic weighted average common stock outstanding322 322 324 324 
Effect of dilutive securities1 1 — — 
Diluted weighted average common stock outstanding323 323 324 324 
Earnings (loss) per share:
Basic$0.42 $(0.04)$0.06 $0.48 
Diluted$0.42 $(0.04)$0.06 $0.48 
v3.26.1
Segment and Related Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of segment reporting information, by segment
Summarized financial information concerning reportable segments is shown in the following tables for the periods presented:
 Three Months Ended March 31, 2026
Millions of dollars O&P–
Americas		O&P–
EAI		I&DAPSTechnologyOtherTotal
Sales and other operating revenues:
Customers$1,920 $2,300 $2,023 $873 $81 $— $7,197 
Intersegment517 201 37 3 25 (783)— 
2,437 2,501 2,060 876 106 (783)7,197 
Less:
Cost of sales2,179 2,431 1,861 750 60 (785)6,496 
Impairments— 15 — — — — 15 
(Income) loss from equity investments(9)15 (1)— — — 5 
Other items104 118 80 88 39 8 437 
Add:
Depreciation and amortization expense164 43 104 20 11 — 342 
EBITDA$327 $(35)$224 $58 $18 $(6)$586 
Capital expenditures$120 $61 $58 $17 $13 $— $269 
 Three Months Ended March 31, 2025
Millions of dollarsO&P–
Americas		O&P–
EAI		I&DAPSTechnologyOtherTotal
Sales and other operating revenues:
Customers$1,957 $2,435 $2,282 $904 $99 $— $7,677 
Intersegment524 165 16 4 21 (730)— 
2,481 2,600 2,298 908 120 (730)7,677 
Less:
Cost of sales2,273 2,510 2,233 800 44 (732)7,128 
(Income) loss from equity investments(7)6 — — — — (1)
Other items119 106 70 82 34 3 414 
Add:
Depreciation and amortization expense155 39 99 20 10 — 323 
EBITDA$251 $17 $94 $46 $52 $(1)$459 
Capital expenditures$216 $124 $91 $30 $22 $— $483 
Reconciliation of EBITDA to income (loss) from continuing operations before income taxes
A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented:
 Three Months Ended
March 31,
Millions of dollars20262025
EBITDA:
Total segment EBITDA$592 $460 
Other EBITDA(6)(1)
Less:
Depreciation and amortization expense(342)(323)
Interest expense(138)(107)
Add:
Interest income31 30 
Income from continuing operations before income taxes$137 $59 
v3.26.1
Discontinued Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Discontinued Operations [Line Items]    
Income (loss) from discontinued operations, net of tax $ (14) $ 154
Discontinued Operations, Disposed of by Means Other than Sale    
Discontinued Operations [Line Items]    
Sales and other operating revenues 0 1,199
Cost of sales 0 1,001
Selling, general and administrative expenses 0 2
Operating income (loss) 0 196
Other income (expense), net (18) 0
Provision for (benefit from) income taxes (4) 42
Income (loss) from discontinued operations, net of tax $ (14) $ 154
v3.26.1
Assets Held for Sale - Narrative (Details) - European Assets - Held-for-Sale - Forecast
$ in Millions
 12 Months Ended
Jun. 30, 2026
USD ($)
Assets and liabilities held for sale [Line Items]  
Cash contribution $ 300
Minimum  
Assets and liabilities held for sale [Line Items]  
Gain (loss) on disposal (700)
Maximum  
Assets and liabilities held for sale [Line Items]  
Gain (loss) on disposal $ (800)
v3.26.1
Assets Held for Sale - Balance Sheet Disclosure (Details) - European Assets - Held-for-Sale - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Accounts receivable - Trade, net $ 297 $ 272
Inventories 365 407
Prepaid expenses and other current assets 28 22
Operating lease assets 30 12
Equity investments 27 28
Other assets 2 16
Total assets held for sale 749 757
LIABILITIES    
Accounts payable - Trade 247 225
Accrued and other current liabilities 138 129
Operating lease liabilities 15 9
Other liabilities 262 272
Deferred income taxes 30 30
Total liabilities held for sale $ 692 $ 665
v3.26.1
Revenues - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]    
Contract with customer liability $ 139 $ 125
v3.26.1
Revenues - Key products (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of revenue [Line Items]    
Total $ 7,197 $ 7,677
Olefins and co-products    
Disaggregation of revenue [Line Items]    
Total 1,186 1,066
Polyethylene    
Disaggregation of revenue [Line Items]    
Total 1,681 1,778
Polypropylene    
Disaggregation of revenue [Line Items]    
Total 1,344 1,538
Propylene oxide and derivatives    
Disaggregation of revenue [Line Items]    
Total 518 588
Oxyfuels and related products    
Disaggregation of revenue [Line Items]    
Total 1,134 1,131
Intermediate chemicals    
Disaggregation of revenue [Line Items]    
Total 348 541
Compounding and solutions    
Disaggregation of revenue [Line Items]    
Total 873 904
Other    
Disaggregation of revenue [Line Items]    
Total $ 113 $ 131
v3.26.1
Revenues - Geographic locations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of revenue [Line Items]    
Total $ 7,197 $ 7,677
United States    
Disaggregation of revenue [Line Items]    
Total 2,723 2,855
Germany    
Disaggregation of revenue [Line Items]    
Total 588 616
China    
Disaggregation of revenue [Line Items]    
Total 333 480
Mexico    
Disaggregation of revenue [Line Items]    
Total 327 409
Italy    
Disaggregation of revenue [Line Items]    
Total 318 327
France    
Disaggregation of revenue [Line Items]    
Total 297 265
Japan    
Disaggregation of revenue [Line Items]    
Total 258 318
Poland    
Disaggregation of revenue [Line Items]    
Total 208 203
The Netherlands    
Disaggregation of revenue [Line Items]    
Total 198 166
Other    
Disaggregation of revenue [Line Items]    
Total $ 1,947 $ 2,038
v3.26.1
Accounts Receivable - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Receivables [Abstract]    
Allowance for credit losses, receivables $ 3 $ 3
v3.26.1
Inventories - Schedule of Components (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2026
Dec. 31, 2025
Inventory Disclosure [Abstract]      
Finished goods   $ 2,151 $ 2,238
Work-in-process   95 69
Raw materials and supplies   1,389 1,226
Total inventories   $ 3,635 $ 3,533
Effect of LIFO inventory liquidation on income $ 196    
Per diluted share (in dollars per share) $ 0.61    
v3.26.1
Debt - Long-term debt (Details)
€ in Millions, $ in Millions
Mar. 31, 2026
USD ($)
Mar. 31, 2026
EUR (€)
Dec. 31, 2025
USD ($)
Long-term debt [Line Items]      
Total $ 12,695   $ 12,712
Less current maturities (1,467)   (588)
Long-term debt 11,228   12,124
Senior Notes due 2055, $1,000 million, 4.625% ($15 million of discount; $10 million of debt issuance cost)      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 4.625% 4.625%  
Unamortized discount $ 15    
Unamortized debt issuance cost 10    
Total 975   975
Guaranteed Notes due 2027, $300 million, 8.1%      
Long-term debt [Line Items]      
Face amount $ 300    
Stated interest rate (in percent) 8.10% 8.10%  
Total $ 300   300
Guaranteed Notes due 2043, $750 million, 5.25% ($17 million of discount; $6 million of debt issuance cost) | Issued by LYB International Finance B.V.:      
Long-term debt [Line Items]      
Face amount $ 750    
Stated interest rate (in percent) 5.25% 5.25%  
Unamortized discount $ 17    
Unamortized debt issuance cost 6    
Total 727   727
Guaranteed Notes due 2044, $1,000 million, 4.875% ($9 million of discount; $8 million of debt issuance cost) | Issued by LYB International Finance B.V.:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 4.875% 4.875%  
Unamortized discount $ 9    
Unamortized debt issuance cost 8    
Total $ 983   983
Guaranteed Notes due 2026, €500 million, 0.875% | Issued by LYB International Finance II B.V.:      
Long-term debt [Line Items]      
Face amount | €   € 500  
Stated interest rate (in percent) 0.875% 0.875%  
Total $ 572   585
Guaranteed Notes due 2027, $1,000 million, 3.5% ($1 million of discount) | Issued by LYB International Finance II B.V.:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 3.50% 3.50%  
Unamortized discount $ 1    
Total $ 589   590
Guaranteed Notes due 2031, €500 million, 1.625% ($3 million of discount; $2 million of debt issuance cost) | Issued by LYB International Finance II B.V.:      
Long-term debt [Line Items]      
Face amount | €   € 500  
Stated interest rate (in percent) 1.625% 1.625%  
Unamortized discount $ 3    
Unamortized debt issuance cost 2    
Total 563   577
Guaranteed Notes due 2030, $500 million, 3.375% | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 3.375% 3.375%  
Total $ 144   142
Guaranteed Notes due 2030, $500 million, 2.25% ($2 million of discount; $2 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 2.25% 2.25%  
Unamortized discount $ 2    
Unamortized debt issuance cost 2    
Total 482   481
Guaranteed Notes due 2031, $500 million, 5.125% ($1 million of discount; $4 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 5.125% 5.125%  
Unamortized discount $ 1    
Unamortized debt issuance cost 4    
Total 495   495
Guaranteed Notes due 2033, $500 million, 5.625% ($4 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 5.625% 5.625%  
Unamortized debt issuance cost $ 4    
Total 496   496
Guaranteed Notes due 2034, $750 million, 5.5% ($5 million of discount, $6 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 750    
Stated interest rate (in percent) 5.50% 5.50%  
Unamortized discount $ 5    
Unamortized debt issuance cost 6    
Total 739   739
Guaranteed Notes due 2035, $500 million, 6.150% ($1 million of discount, $5 million of debt issuance cost | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 6.15% 6.15%  
Unamortized discount $ 1    
Unamortized debt issuance cost 5    
Total 494   494
Guaranteed Notes due 2036, $1,000 million, 5.875% ($7 million of discount, $9 million of debt issuance cost | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 5.875% 5.875%  
Unamortized discount $ 7    
Unamortized debt issuance cost 9    
Total 984   984
Guaranteed Notes due 2040, $750 million, 3.375% ($1 million of discount; $6 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 750    
Stated interest rate (in percent) 3.375% 3.375%  
Unamortized discount $ 1    
Unamortized debt issuance cost 6    
Total 743   743
Guaranteed Notes due 2049, $1,000 million, 4.2% ($13 million of discount; $10 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 4.20% 4.20%  
Unamortized discount $ 13    
Unamortized debt issuance cost 10    
Total 977   977
Guaranteed Notes due 2050, $1,000 million, 4.2% ($6 million of discount; $10 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 4.20% 4.20%  
Unamortized discount $ 6    
Unamortized debt issuance cost 10    
Total 971   971
Guaranteed Notes due 2051, $1,000 million, 3.625% ($2 million of discount; $9 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 1,000    
Stated interest rate (in percent) 3.625% 3.625%  
Unamortized discount $ 2    
Unamortized debt issuance cost 9    
Total 951   952
Guaranteed Notes due 2060, $500 million, 3.8% ($4 million of discount; $5 million of debt issuance cost) | Issued by LYB International Finance III LLC:      
Long-term debt [Line Items]      
Face amount $ 500    
Stated interest rate (in percent) 3.80% 3.80%  
Unamortized discount $ 4    
Unamortized debt issuance cost 5    
Total 486   487
Other      
Long-term debt [Line Items]      
Total $ 24   $ 14
v3.26.1
Debt - Description of fair value adjustments for guaranteed notes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Debt Instrument [Line Items]      
Gains (Losses) $ 4 $ (25)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt 77   $ 73
Guaranteed Notes due 2025, 1.25%      
Debt Instrument [Line Items]      
Gains (Losses) 0 (1)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 0   0
Guaranteed Notes due 2025, 1.25% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 1.25%    
Guaranteed Notes due 2026, 0.875%      
Debt Instrument [Line Items]      
Gains (Losses) $ 0 0  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 2   2
Guaranteed Notes due 2026, 0.875% | Issued by LYB International Finance II B.V.:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 0.875%    
Guaranteed Notes due 2027, 3.5%      
Debt Instrument [Line Items]      
Gains (Losses) $ 1 (3)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 1   0
Guaranteed Notes due 2027, 3.5% | Issued by LYB International Finance II B.V.:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 3.50%    
Guaranteed Notes due 2030, 3.375%      
Debt Instrument [Line Items]      
Gains (Losses) $ 0 (3)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ (2)   (2)
Guaranteed Notes due 2030, 3.375% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 3.375%    
Guaranteed Notes due 2030, 2.25%      
Debt Instrument [Line Items]      
Gains (Losses) $ 0 (2)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 14   14
Guaranteed Notes due 2030, 2.25% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 2.25%    
Guaranteed Notes due 2031, 1.625%      
Debt Instrument [Line Items]      
Gains (Losses) $ 1 2  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 6   5
Guaranteed Notes due 2031, 1.625% | Issued by LYB International Finance II B.V.:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 1.625%    
Guaranteed Notes due 2050, 4.2%      
Debt Instrument [Line Items]      
Gains (Losses) $ 0 (1)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 13   13
Guaranteed Notes due 2050, 4.2% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 4.20%    
Guaranteed Notes due 2051, 3.625%      
Debt Instrument [Line Items]      
Gains (Losses) $ 1 (14)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 38   37
Guaranteed Notes due 2051, 3.625% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 3.625%    
Guaranteed Notes due 2060, 3.8%      
Debt Instrument [Line Items]      
Gains (Losses) $ 1 $ (3)  
Cumulative Fair Value Hedging Adjustments Included in Carrying Amount of Debt $ 5   $ 4
Guaranteed Notes due 2060, 3.8% | Issued by LYB International Finance III LLC:      
Debt Instrument [Line Items]      
Stated interest rate (in percent) 3.80%    
v3.26.1
Debt - Description of long-term debt (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Long-term debt [Line Items]    
Outstanding borrowings $ 12,695 $ 12,712
Senior Revolving Credit Facility    
Long-term debt [Line Items]    
Maximum borrowing capacity 3,750  
Outstanding borrowings 0  
Outstanding letters of credit 0  
Unused availability $ 3,750  
v3.26.1
Debt - Description of short-term debt (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Description of short-term debt [Line Items]    
Short-term debt $ 226 $ 226
Weighted average interest rate, short-term debt (in percent) 2.70% 2.70%
U.S. Receivables Facility    
Description of short-term debt [Line Items]    
Maximum borrowing capacity $ 900  
Additional borrowing capacity, uncommitted loans 300  
Short-term debt 0  
Outstanding letters of credit 0  
Unused availability 900  
Commercial paper    
Description of short-term debt [Line Items]    
Maximum borrowing capacity 2,500  
Short-term debt 0  
Precious metal financings    
Description of short-term debt [Line Items]    
Short-term debt $ 226  
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of derivative and non-derivative financial instruments outstanding measured at fair value on a recurring basis (Details) - Fair value, inputs, level 2 - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets $ 113 $ 44
Derivative liabilities 333 408
Prepaid expenses and other current assets | Commodities | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 38 0
Prepaid expenses and other current assets | Commodities | Derivatives not designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 13 5
Prepaid expenses and other current assets | Foreign currency | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 15 19
Prepaid expenses and other current assets | Foreign currency | Derivatives not designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 2 0
Prepaid expenses and other current assets | Interest rates | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 25 16
Other assets | Commodities | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 13 4
Other assets | Foreign currency | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 7 0
Accrued and other current liabilities | Commodities | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 20 33
Accrued and other current liabilities | Commodities | Derivatives not designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 50 42
Accrued and other current liabilities | Foreign currency | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 81 15
Accrued and other current liabilities | Foreign currency | Derivatives not designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 6 5
Accrued and other current liabilities | Interest rates | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 30 27
Other liabilities | Commodities | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 9 8
Other liabilities | Foreign currency | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities 62 199
Other liabilities | Interest rates | Derivatives designated as hedges:    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities $ 75 $ 79
v3.26.1
Financial Instruments and Fair Value Measurements - Carrying value and estimated fair value of non-derivative financial instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]    
Precious metal financings, carrying value $ 226 $ 226
Nonrecurring | Non-derivatives:    
Estimated fair value and carrying value of non-derivative financial instruments [Line Items]    
Precious metal financings, carrying value 226 226
Long-term debt, carrying value 11,208 12,113
Total liabilities, carrying value 11,434 12,339
Precious metal financings, fair value 258 263
Long-term debt, fair value 9,492 10,501
Total liabilities, fair value $ 9,750 $ 10,764
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of commodity derivatives (Details)
bbl in Millions, MWh in Millions, MMBTU in Millions
Mar. 31, 2026
bbl
MMBTU
MWh
Dec. 31, 2025
bbl
MMBTU
MWh
Derivatives designated as hedges: | Natural gas    
Derivative [Line Items]    
Derivative, nonmonetary notional amount | MMBTU 46 51
Derivatives designated as hedges: | Ethane    
Derivative [Line Items]    
Derivative, nonmonetary notional amount 11 13
Derivatives designated as hedges: | Power    
Derivative [Line Items]    
Derivative, nonmonetary notional amount | MWh 1 1
Derivatives not designated as hedges: | Ethane    
Derivative [Line Items]    
Derivative, nonmonetary notional amount 1 6
Derivatives not designated as hedges: | Other commodities    
Derivative [Line Items]    
Derivative, nonmonetary notional amount 4 3
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of interest rate hedges (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Interest rates | Fair value hedges    
Derivative [Line Items]    
Fair value hedges $ 1,879 $ 1,885
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of foreign currency hedges (Details) - Foreign currency - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Derivatives designated as hedges: | Net investment hedges    
Derivative [Line Items]    
Notional Amount $ 2,465 $ 2,465
Derivatives designated as hedges: | Cash flow hedges    
Derivative [Line Items]    
Notional Amount 294 294
Derivatives not designated as hedges:    
Derivative [Line Items]    
Notional Amount $ 324 $ 295
v3.26.1
Financial Instruments and Fair Value Measurements - Pretax effect of derivative instruments charged directly to income (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI $ 132 $ (82)
Gain (Loss) Reclassified to Income from AOCI (8) 10
Additional Gain (Loss) Recognized in Income $ 9 $ (15)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of sales, Interest expense, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax Cost of sales, Interest expense, Other income (expense), net, Revenue from Contract with Customer, Excluding Assessed Tax
Commodities | Derivatives designated as hedges:    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI $ 58 $ 37
Gain (Loss) Reclassified to Income from AOCI (2) (2)
Additional Gain (Loss) Recognized in Income 0 0
Commodities | Derivatives not designated as hedges: | Sales and other operating revenues    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 0 0
Gain (Loss) Reclassified to Income from AOCI 0 0
Additional Gain (Loss) Recognized in Income (8) 0
Commodities | Derivatives not designated as hedges: | Cost of sales    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 0 0
Gain (Loss) Reclassified to Income from AOCI 0 0
Additional Gain (Loss) Recognized in Income 15 (19)
Commodities | Derivatives not designated as hedges: | Income (loss) from discontinued operations, net of tax    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 0 0
Gain (Loss) Reclassified to Income from AOCI 0 0
Additional Gain (Loss) Recognized in Income 0 8
Foreign currency | Derivatives designated as hedges:    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 74 (119)
Gain (Loss) Reclassified to Income from AOCI (7) 11
Additional Gain (Loss) Recognized in Income 10 12
Foreign currency | Derivatives not designated as hedges:    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 0 0
Gain (Loss) Reclassified to Income from AOCI 0 0
Additional Gain (Loss) Recognized in Income 4 (29)
Interest rates | Derivatives designated as hedges:    
Derivative Instruments, gain (loss) [Line Items]    
Gain (Loss) Recognized in AOCI 0 0
Gain (Loss) Reclassified to Income from AOCI 1 1
Additional Gain (Loss) Recognized in Income $ (12) $ 13
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of marketable securities narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Pre-tax unrealized gain (loss) to be reclassified to earnings over the next twelve months $ 5  
Amount of marketable securities classified as cash and cash equivalents $ 1,469 $ 2,030
v3.26.1
Income Taxes - Narrative (Details)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]    
Effective income tax rate (in percent) (1.50%) 61.00%
Foreign exchange losses (in percent) 28.60%  
Tax benefit associated with tax refund claim (in percent) 11.40%  
Foreign income tax rate differential (in percent) 17.50%  
v3.26.1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Loss Contingencies [Line Items]    
Future environmental remediation costs $ 177 $ 178
Accrued environmental liability 74  
Minimum    
Loss Contingencies [Line Items]    
Site contingency, accrued liabilities $ 1  
Technology licensing contracts indemnification period (in years) 5 years  
Maximum    
Loss Contingencies [Line Items]    
Site contingency, accrued liabilities $ 56  
Technology licensing contracts indemnification period (in years) 10 years  
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Dividend distributions (Details)
$ / shares in Units, $ in Millions
 1 Months Ended
Mar. 31, 2026
USD ($)
$ / shares
Shareholders Equity and Redeemable Non-controlling Interests Abstract [Abstract]  
Dividend Per Ordinary Share (usd per share) | $ / shares $ 0.69
Aggregate Dividends Paid | $ $ 224
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended
Jan. 31, 2026
Mar. 31, 2026
Mar. 31, 2025
Apr. 29, 2026
Dec. 31, 2025
May 23, 2025
Share repurchase authorization [Line Items]            
Repurchases of Company ordinary shares   $ 0 $ 110      
Cumulative redeemable non-controlling interest stock outstanding (in shares)   112,964     112,964  
Redeemable non-controlling interests, dividends per share (in dollars per share) $ 15.00 $ 15.00 $ 15.00      
Dividends on redeemable non-controlling interests   $ 2 $ 2      
2025 Share Repurchase Authorization            
Share repurchase authorization [Line Items]            
Stock repurchase program, number of shares authorized to be repurchased (in shares)           34,000,000.0
2025 Share Repurchase Authorization | Subsequent Event [Member]            
Share repurchase authorization [Line Items]            
Remaining authorized, number of shares (in shares)       34,000,000.0    
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Share repurchase authorization (Details) - 2024 Share Repurchase Authorization
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
$ / shares
shares
Share repurchase authorization [Line Items]  
Shares Repurchased (in shares) | shares 1,485,648
Average Purchase Price (usd per share) | $ / shares $ 74.29
Total Purchase Price, Including Commissions and Fees | $ $ 110
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Ordinary shares (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance (in shares) 322,084,769  
Ending balance (in shares) 322,770,429  
Ordinary Shares, Issued    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance (in shares) 322,084,769 323,889,832
Share-based compensation (in shares) 514,683 424,241
Employee stock purchase plan (in shares) 170,977 116,659
Purchase of ordinary shares (in shares) 0 (1,485,648)
Ending balance (in shares) 322,770,429 322,945,084
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Treasury shares (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Increase (Decrease) in Treasury Stock [Roll Forward]    
Beginning balance (in shares) 18,337,729  
Ending balance (in shares) 17,652,069  
Treasury shares    
Increase (Decrease) in Treasury Stock [Roll Forward]    
Beginning balance (in shares) 18,337,729 16,532,666
Share-based compensation (in shares) (514,683) (424,241)
Employee stock purchase plan (in shares) (170,977) (116,659)
Purchase of ordinary shares (in shares) 0 1,485,648
Ending balance (in shares) 17,652,069 17,477,414
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Components of accumulated other comprehensive income (loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance $ 10,093  
Total other comprehensive income, net of tax 16 $ 85
Ending balance 10,051  
AOCI Attributable to Parent    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (1,310) (1,532)
Other comprehensive income (loss) before reclassifications 53 57
Tax expense before reclassifications (34) 25
Amounts reclassified from accumulated other comprehensive loss (4) 5
Tax (expense) benefit 1 (2)
Total other comprehensive income, net of tax 16 85
Ending balance (1,294) (1,447)
Financial Derivatives    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (133) (111)
Other comprehensive income (loss) before reclassifications 66 27
Tax expense before reclassifications (18) (5)
Amounts reclassified from accumulated other comprehensive loss (8) 10
Tax (expense) benefit 2 (3)
Total other comprehensive income, net of tax 42 29
Ending balance (91) (82)
Defined Benefit Pension and Other Postretirement Benefit Plans    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (236) (281)
Other comprehensive income (loss) before reclassifications 0 (3)
Tax expense before reclassifications 0 1
Amounts reclassified from accumulated other comprehensive loss 4 (5)
Tax (expense) benefit (1) 1
Total other comprehensive income, net of tax 3 (6)
Ending balance (233) (287)
Foreign Currency Translation Adjustments    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (941) (1,140)
Other comprehensive income (loss) before reclassifications (13) 33
Tax expense before reclassifications (16) 29
Amounts reclassified from accumulated other comprehensive loss 0 0
Tax (expense) benefit 0 0
Total other comprehensive income, net of tax (29) 62
Ending balance $ (970) $ (1,078)
v3.26.1
Shareholders' Equity and Redeemable Non-controlling Interests - Reclassification out of accumulated other comprehensive income (loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Sales and other operating revenues $ 7,197 $ 7,677
Cost of sales 6,496 7,128
Interest expense 138 107
Other income (expense), net 10 21
Income (loss) from discontinued operations, net of tax (14) 154
Provision for (benefit from) income taxes (2) 36
Total reclassifications, before tax (137) (59)
Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Provision for (benefit from) income taxes 1 (2)
Total reclassifications, before tax (4) 5
Total reclassifications, after tax (3) 3
Financial Derivatives | Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Provision for (benefit from) income taxes 2 (3)
Total reclassifications, after tax (6) 7
Financial Derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Commodities    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Cost of sales (2) (2)
Financial Derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Foreign currency    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Interest expense (7) 11
Financial Derivatives | Amounts reclassified out of accumulated other comprehensive income (loss) | Interest rates    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Interest expense 1 1
Amortization of defined pension items: | Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Provision for (benefit from) income taxes (1) 1
Total reclassifications, after tax 3 (4)
Actuarial loss | Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Other income (expense), net 3 3
Prior service cost | Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Other income (expense), net 1 1
Curtailment gain | Amounts reclassified out of accumulated other comprehensive income (loss)    
Reclassification adjustments out of accumulated other comprehensive income (loss) [Line Items]    
Income (loss) from discontinued operations, net of tax $ 0 $ (9)
v3.26.1
Per Share Data - Earnings per share, basic and diluted (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings per share, basic and diluted [Line Items]    
Net income (loss) $ 125 $ 177
Earnings per share, Basic [Abstract]    
Basic from continuing operations (in dollars in per share) $ 0.42 $ 0.06
Basic from discontinued operations (in dollars per share) (0.04) 0.48
Diluted from continuing operations (in dollars in per share) 0.42 0.06
Diluted from discontinued operations (in dollars in per share) $ (0.04) $ 0.48
Continuing Operations    
Earnings per share, basic and diluted [Line Items]    
Net income (loss) $ 139 $ 23
Dividends on redeemable non-controlling interests (2) (2)
Net income attributable to participating securities, Basic 0 (2)
Net income attributable to participating securities, Diluted 0 (2)
Net income (loss) attributable to ordinary shareholders - Basic 137 19
Net income (loss) attributable to ordinary shareholders - Diluted $ 137 $ 19
Weighted average number of shares outstanding reconciliation [Abstract]    
Basic weighted average common stock outstanding (in shares) 322 324
Effect of dilutive securities (in shares) 1 0
Diluted weighted average common stock outstanding (in shares) 323 324
Earnings per share, Basic [Abstract]    
Basic from continuing operations (in dollars in per share) $ 0.42 $ 0.06
Diluted from continuing operations (in dollars in per share) $ 0.42 $ 0.06
Discontinued Operations    
Earnings per share, basic and diluted [Line Items]    
Net income (loss) $ (14) $ 154
Dividends on redeemable non-controlling interests 0 0
Net income attributable to participating securities, Basic 0 0
Net income attributable to participating securities, Diluted 0 0
Net income (loss) attributable to ordinary shareholders - Basic (14) 154
Net income (loss) attributable to ordinary shareholders - Diluted $ (14) $ 154
Weighted average number of shares outstanding reconciliation [Abstract]    
Basic weighted average common stock outstanding (in shares) 322 324
Effect of dilutive securities (in shares) 1 0
Diluted weighted average common stock outstanding (in shares) 323 324
Earnings per share, Basic [Abstract]    
Basic from discontinued operations (in dollars per share) $ (0.04) $ 0.48
Diluted from discontinued operations (in dollars in per share) $ (0.04) $ 0.48
v3.26.1
Segment and Related Information - Summarized financial information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Summarized financial information concerning reportable segments: [Abstract]    
Total $ 7,197 $ 7,677
Cost of sales 6,496 7,128
Impairments 15 0
(Income) loss from equity investments 5 (1)
Other items 437 414
Depreciation and amortization 342 323
EBITDA 586 459
Capital expenditures 269 483
O&P- Americas    
Summarized financial information concerning reportable segments: [Abstract]    
Total 1,920 1,957
Cost of sales 2,179 2,273
Impairments 0  
(Income) loss from equity investments (9) (7)
Other items 104 119
Depreciation and amortization 164 155
EBITDA 327 251
Capital expenditures 120 216
O&P- EAI    
Summarized financial information concerning reportable segments: [Abstract]    
Total 2,300 2,435
Cost of sales 2,431 2,510
Impairments 15  
(Income) loss from equity investments 15 6
Other items 118 106
Depreciation and amortization 43 39
EBITDA (35) 17
Capital expenditures 61 124
I&D    
Summarized financial information concerning reportable segments: [Abstract]    
Total 2,023 2,282
Cost of sales 1,861 2,233
Impairments 0  
(Income) loss from equity investments (1) 0
Other items 80 70
Depreciation and amortization 104 99
EBITDA 224 94
Capital expenditures 58 91
APS    
Summarized financial information concerning reportable segments: [Abstract]    
Total 873 904
Cost of sales 750 800
Impairments 0  
(Income) loss from equity investments 0 0
Other items 88 82
Depreciation and amortization 20 20
EBITDA 58 46
Capital expenditures 17 30
Technology    
Summarized financial information concerning reportable segments: [Abstract]    
Total 81 99
Cost of sales 60 44
Impairments 0  
(Income) loss from equity investments 0 0
Other items 39 34
Depreciation and amortization 11 10
EBITDA 18 52
Capital expenditures 13 22
Other    
Summarized financial information concerning reportable segments: [Abstract]    
Total 0 0
Cost of sales (785) (732)
Impairments 0  
(Income) loss from equity investments 0 0
Other items 8 3
Depreciation and amortization 0 0
EBITDA (6) (1)
Capital expenditures 0 0
Intersegment    
Summarized financial information concerning reportable segments: [Abstract]    
Total 0 0
Intersegment | O&P- Americas    
Summarized financial information concerning reportable segments: [Abstract]    
Total 517 524
Intersegment | O&P- EAI    
Summarized financial information concerning reportable segments: [Abstract]    
Total 201 165
Intersegment | I&D    
Summarized financial information concerning reportable segments: [Abstract]    
Total 37 16
Intersegment | APS    
Summarized financial information concerning reportable segments: [Abstract]    
Total 3 4
Intersegment | Technology    
Summarized financial information concerning reportable segments: [Abstract]    
Total 25 21
Intersegment | Other    
Summarized financial information concerning reportable segments: [Abstract]    
Total (783) (730)
Operating segments    
Summarized financial information concerning reportable segments: [Abstract]    
Total 7,197 7,677
Operating segments | O&P- Americas    
Summarized financial information concerning reportable segments: [Abstract]    
Total 2,437 2,481
Operating segments | O&P- EAI    
Summarized financial information concerning reportable segments: [Abstract]    
Total 2,501 2,600
Operating segments | I&D    
Summarized financial information concerning reportable segments: [Abstract]    
Total 2,060 2,298
Operating segments | APS    
Summarized financial information concerning reportable segments: [Abstract]    
Total 876 908
Operating segments | Technology    
Summarized financial information concerning reportable segments: [Abstract]    
Total 106 120
Operating segments | Other    
Summarized financial information concerning reportable segments: [Abstract]    
Total $ (783) $ (730)
v3.26.1
Segment and Related Information - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
segment
Mar. 31, 2025
USD ($)
Segment reporting information [Line Items]    
Number of reportable segments | segment 5  
European PO Joint Venture | Disposal Group, Not Discontinued Operations    
Segment reporting information [Line Items]    
Exit costs incurred | $   $ 117
v3.26.1
Segment and Related Information - Reconciliation of EBITDA to income (loss) from continuing operations before income taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
EBITDA:    
Total segment EBITDA $ 592 $ 460
Other EBITDA (6) (1)
Less:    
Depreciation and amortization expense (342) (323)
Interest expense (138) (107)
Add:    
Interest income 31 30
Income from continuing operations before income taxes $ 137 $ 59