v3.25.4
Employee Benefits - Regional Asset Break Down (Detail) - EUR (€)
€ in Millions
Dec. 31, 2025
Dec. 31, 2024
Regional Asset Break Down [line items]    
Fair value of plan assets € 15,239 € 16,106
Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents 610 537
Equity instruments 1,682 1,427
Government bonds
(investment-grade and above) 2,260 2,382
Government bonds
(non-investment-grade) 105 94
Non-government bonds
(investment-grade and above) 4,964 5,453
Non-government bonds
(non-investment-grade) 434 441
Securitized and other Debt Investments 145 159
Subtotal € 10,200 € 10,493
Share (in %) 100.00% 100.00%
Other asset categories € 5,039 € 5,613
Fair value of plan assets 15,239 16,106
Germany    
Regional Asset Break Down [line items]    
Fair value of plan assets 9,632 10,237
Germany | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents (26) (20)
Equity instruments 74 29
Government bonds
(investment-grade and above) 329 376
Government bonds
(non-investment-grade) 0 2
Non-government bonds
(investment-grade and above) 533 500
Non-government bonds
(non-investment-grade) 4 26
Securitized and other Debt Investments 18 23
Subtotal € 932 € 936
Share (in %) 9.00% 9.00%
United Kingdom    
Regional Asset Break Down [line items]    
Fair value of plan assets € 3,505 € 3,678
United Kingdom | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents 135 172
Equity instruments 102 30
Government bonds
(investment-grade and above) 166 77
Government bonds
(non-investment-grade) 0 0
Non-government bonds
(investment-grade and above) 441 632
Non-government bonds
(non-investment-grade) 20 27
Securitized and other Debt Investments 31 21
Subtotal € 895 € 959
Share (in %) 9.00% 9.00%
United States    
Regional Asset Break Down [line items]    
Fair value of plan assets € 944 € 1,050
United States | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents (5) 30
Equity instruments 568 818
Government bonds
(investment-grade and above) 307 300
Government bonds
(non-investment-grade) 0 1
Non-government bonds
(investment-grade and above) 1,809 1,843
Non-government bonds
(non-investment-grade) 27 22
Securitized and other Debt Investments 45 83
Subtotal € 2,751 € 3,097
Share (in %) 27.00% 30.00%
Other
Eurozone | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents € 465 € 311
Equity instruments 497 345
Government bonds
(investment-grade and above) 860 980
Government bonds
(non-investment-grade) 6 0
Non-government bonds
(investment-grade and above) 1,608 2,021
Non-government bonds
(non-investment-grade) 378 359
Securitized and other Debt Investments 22 15
Subtotal € 3,836 € 4,031
Share (in %) 38.00% 38.00%
Other
developed
countries | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents € 19 € 20
Equity instruments 354 150
Government bonds
(investment-grade and above) 135 207
Government bonds
(non-investment-grade) 0 0
Non-government bonds
(investment-grade and above) 507 392
Non-government bonds
(non-investment-grade) 3 3
Securitized and other Debt Investments 28 17
Subtotal € 1,046 € 789
Share (in %) 10.00% 8.00%
Emerging
markets | Regional Asset Break Down    
Regional Asset Break Down [line items]    
Cash and cash equivalents € 22 € 24
Equity instruments 87 55
Government bonds
(investment-grade and above) 463 442
Government bonds
(non-investment-grade) 99 91
Non-government bonds
(investment-grade and above) 66 65
Non-government bonds
(non-investment-grade) 2 4
Securitized and other Debt Investments 1 0
Subtotal € 740 € 681
Share (in %) 7.00% 6.00%