v3.26.1
REVENUE RECOGNITION (Tables)
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of variable consideration provisions
The following tables present the activity and ending balances of the Company’s variable consideration provisions for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31, 2026
(in millions)
Discounts
and
Allowances
ReturnsRebatesChargebacks
Distribution
Fees
Total
Reserve balance, January 1, 2026$120 $79 $582 $60 $35 $876 
Current period provision116 21 418 176 22 753 
Payments and credits(127)(21)(509)(166)(22)(845)
Reserve balance, March 31, 2026
$109 $79 $491 $70 $35 $784 
Three Months Ended March 31, 2025
(in millions)
Discounts
and
Allowances
ReturnsRebatesChargebacks
Distribution
Fees
Total
Reserve balance, January 1, 2025$120 $88 $497 $74 $26 $805 
Current period provision106 11 445 146 25 733 
Payments and credits(115)(20)(467)(156)(29)(787)
Reserve balance, March 31, 2025
$111 $79 $475 $64 $22 $751 
Schedule of activity in allowance for credit losses
The activity in the allowance for credit losses for trade receivables for the three months ended March 31, 2026 and 2025 is as follows:
Three Months Ended
March 31,
(in millions)20262025
Balance, beginning of period$17 $18 
Provision— 
Write-offs— (1)
Balance, end of period$18 $17