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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Funded status of pension and other postretirement benefit plans

The funded status of the company’s pension and OPEB plans for 2022 and 2021 follows:

			Pension Benefits
			2022															2021												Other Benefits
			U.S.						Int’l.									U.S.						Int’l.						2022									2021
Change in Benefit Obligation
Benefit obligation at January 1			$	12,966					$	5,351								$	15,166					$	6,307					$	2,489								$	2,650
Service cost			432						83									450						123						43									43
Interest cost			318						137									235						137						60									53
Plan participants’ contributions			—						3									—						3						62									43
Plan amendments			40						38									—						—						18									—
Actuarial (gain) loss			(2,753)						(1,559)									(325)						(364)						(509)									(108)
Foreign currency exchange rate changes			—						(423)									—						(85)						(5)									(3)
Benefits paid			(1,290)						(276)									(2,560)						(746)						(220)									(189)
Divestitures/Acquisitions			—						—									—						—						—									—
Curtailment			—						—									—						(24)						—									—
Benefit obligation at December 31			9,713						3,354									12,966						5,351						1,938									2,489
Change in Plan Assets
Fair value of plan assets at January 1			9,919						4,950									9,930						5,363						—									—
Actual return on plan assets			(1,851)						(1,096)									997						166						—									—
Foreign currency exchange rate changes			—						(453)									—						(35)						—									—
Employer contributions			1,164						158									1,552						199						158									146
Plan participants’ contributions			—						3									—						3						62									43
Benefits paid			(1,290)						(276)									(2,560)						(746)						(220)									(189)
Fair value of plan assets at December 31			7,942						3,286									9,919						4,950						—									—
Funded status at December 31			$	(1,771)					$	(68)								$	(3,047)					$	(401)					$	(1,938)								$	(2,489)

Consolidated Balance Sheet for pension and other postretirement benefit plans

Amounts recognized on the Consolidated Balance Sheet for the company’s pension and OPEB plans at December 31, 2022 and 2021, include:

			Pension Benefits
			2022															2021												Other Benefits
			U.S.						Int’l.									U.S.						Int’l.						2022									2021
Deferred charges and other assets			$	26					$	759								$	36					$	696					$	—								$	—
Accrued liabilities			(210)						(62)									(303)						(142)						(152)									(151)
Noncurrent employee benefit plans			(1,587)						(765)									(2,780)						(955)						(1,786)									(2,338)
Net amount recognized at December 31			$	(1,771)					$	(68)								$	(3,047)					$	(401)					$	(1,938)								$	(2,489)

Before tax basis amount in accumulated other comprehensive loss

Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $3,446 and $4,979 at the end of 2022 and 2021, respectively. These amounts consisted of:

			Pension Benefits
			2022															2021												Other Benefits
			U.S.						Int’l.									U.S.						Int’l.						2022									2021
Net actuarial loss			$	3,147					$	659								$	4,007					$	920					$	(392)								$	134
Prior service (credit) costs			40						107									2						75						(115)									(159)
Total recognized at December 31			$	3,187					$	766								$	4,009					$	995					$	(507)								$	(25)

Pension plans with accumulated benefit obligation in excess of plan assets

Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2022 and 2021, was:

			Pension Benefits
			2022															2021
			U.S.						Int’l.									U.S.						Int’l.
Projected benefit obligations			$	1,322					$	828								$	1,957					$	1,097
Accumulated benefit obligations			1,135						671									1,665						883
Fair value of plan assets			—						3									55						2

Components of net periodic benefit cost and amounts recognized in other comprehensive income

The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2022, 2021 and 2020 are shown in the table below:

			Pension Benefits
			2022												2021						2020									Other Benefits
			U.S.			Int’l.									U.S.			Int’l.			U.S.			Int’l.						2022									2021						2020
Net Periodic Benefit Cost
Service cost			$	432		$	83								$	450		$	123		$	497		$	130					$	43								$	43					$	38
Interest cost			318			137									235			137			353			175						60									53						71
Expected return on plan assets			(624)			(176)									(596)			(171)			(650)			(209)						—									—						—
Amortization of prior service costs (credits)			2			6									2			8			2			10						(27)									(27)						(28)
Recognized actuarial losses			218			15									309			46			385			45						13									16						3
Settlement losses			363			(6)									672			7			620			37						—									—						—
Curtailment losses (gains)			—			(5)									—			(1)			92			2						—									—						(27)
Total net periodic benefit cost			709			54									1,072			149			1,299			190						89									85						57
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period			(279)			(257)									(725)			(408)			1,584			230						(514)									(111)						190
Amortization of actuarial loss			(581)			(5)									(981)			(73)			(1,005)			(98)						(13)									(15)						(4)
Prior service (credits) costs during period			40			38									—			—			—			—						18									—						—
Amortization of prior service (costs) credits			(2)			(6)									(2)			(11)			(2)			(17)						27									27						42
Total changes recognized in other comprehensive income			(822)			(230)									(1,708)			(492)			577			115						(482)									(99)						228
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income			$	(113)		$	(176)								$	(636)		$	(343)		$	1,876		$	305					$	(393)								$	(14)					$	285

Weighted-average assumptions used to determine benefit obligations and net periodic benefit costs

The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31:

			Pension Benefits
			2022												2021									2020																		Other Benefits
			U.S.			Int’l.									U.S.			Int’l.						U.S.			Int’l.						2022									2021						2020
Assumptions used to determine benefit obligations:
Discount rate			5.2		%	5.8		%							2.8		%	2.8		%				2.4		%	2.4		%				5.3		%							2.9		%				2.6		%
Rate of compensation increase			4.5		%	4.2		%							4.5		%	4.1		%				4.5		%	4.0		%				N/A									N/A						N/A
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost			3.6		%	2.8		%							3.0		%	2.4		%				3.3		%	3.2		%				3.1		%							3.0		%				3.5		%
Discount rate for interest cost			2.8		%	2.8		%							1.9		%	2.4		%				2.6		%	3.2		%				2.4		%							2.1		%				3.0		%
Expected return on plan assets			6.6		%	3.9		%							6.5		%	3.5		%				6.5		%	4.5		%				N/A									N/A						N/A
Rate of compensation increase			4.5		%	4.1		%							4.5		%	4.0		%				4.5		%	4.0		%				N/A									N/A						N/A

Fair value measurements of the Company's pension plans

The fair value measurements of the company’s pension plans for 2022 and 2021 are as follows:

			U.S.																																	Int’l.
			Total						Level 1						Level 2						Level 3						NAV									Total						Level 1						Level 2						Level 3						NAV
At December 31, 2021
Equities
U.S.1			$	1,677					$	1,677					$	—					$	—					$	—								$	491					$	491					$	—					$	—					$	—
International			1,285						1,284						—						1						—									356						355						—						1						—
Collective Trusts/Mutual Funds2			2,541						32						—						—						2,509									134						6						—						—						128
Fixed Income
Government			215						—						215						—						—									229						135						94						—						—
Corporate			660						—						660						—						—									532						2						530						—						—
Bank Loans			137						—						136						1						—									—						—						—						—						—
Mortgage/Asset Backed			1						—						1						—						—									4						—						4						—						—
Collective Trusts/Mutual Funds2			1,907						13						—						—						1,894									2,388						1						—						—						2,387
Mixed Funds3			—						—						—						—						—									99						12						87						—						—
Real Estate4			1,172						—						—						—						1,172									312						—						—						42						270
Alternative Investments			—						—						—						—						—									—						—						—						—						—
Cash and Cash Equivalents			264						263						1						—						—									161						89						3						—						69
Other5			60						(1)						14						46						1									244						—						17						113						114
Total at December 31, 2021			$	9,919					$	3,268					$	1,027					$	48					$	5,576								$	4,950					$	1,091					$	735					$	156					$	2,968
At December 31, 2022
Equities
U.S.1			$	1,358					$	1,358					$	—					$	—					$	—								$	164					$	164					$	—					$	—					$	—
International			946						946						—						—						—									120						120						—						—						—
Collective Trusts/Mutual Funds2			1,695						4						—						—						1,691									87						6						—						—						81
Fixed Income
Government			110						—						110						—						—									185						127						58						—						—
Corporate			680						—						680						—						—									343						15						328						—						—
Bank Loans			45						—						45						—						—									—						—						—						—						—
Mortgage/Asset Backed			1						—						1						—						—									4						—						4						—						—
Collective Trusts/Mutual Funds2			1,616						—						—						—						1,616									1,750						—						—						—						1,750
Mixed Funds3			—						—						—						—						—									87						14						73						—						—
Real Estate4			1,184						—						—						—						1,184									198						—						—						38						160
Alternative Investments			—						—						—						—						—									—						—						—						—						—
Cash and Cash Equivalents			200						25						—						—						175									80						69						2						—						9
Other5			107						37						15						54						1									268						—						18						85						165
Total at December 31, 2022			$	7,942					$	2,370					$	851					$	54					$	4,667								$	3,286					$	515					$	483					$	123					$	2,165

1U.S. equities include investments in the company’s common stock in the amount of $0 at December 31, 2022, and $0 at December 31, 2021.

2Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds.

3Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk.

4The year-end valuations of the U.S. real estate assets are based on third-party appraisals that occur at least once a year for each property in the portfolio.

5The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts (Level 3); and investments in private-equity limited partnerships (NAV).

The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period

The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below:

			Equity						Fixed Income
			International						Corporate									Bank Loans									Real Estate									Other									Total
Total at December 31, 2020			$	1					$	—								$	2								$	45								$	45								$	93
Actual Return on Plan Assets:
Assets held at the reporting date			—						—									—									—									4									4
Assets sold during the period			—						—									—									(3)									—									(3)
Purchases, Sales and Settlements			—						—									(2)									—									4									2
Transfers in and/or out of Level 3			—						—									—									—									108									108
Total at December 31, 2021			$	1					$	—								$	—								$	42								$	161								$	204
Actual Return on Plan Assets:
Assets held at the reporting date			(1)						—									—									—									(18)									(19)
Assets sold during the period			—						—									—									(4)									—									(4)
Purchases, Sales and Settlements			—						—									—									—									(4)									(4)
Transfers in and/or out of Level 3			—						—									—									—									—									—
Total at December 31, 2022			$	—					$	—								$	—								$	38								$	139								$	177

Benefit payments, which include estimated future service that are expected to be paid by the company in the next 10 years

The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years:

			Pension Benefits												Other
			U.S.						Int’l.						Benefits
2023			$	903					$	203					$	152
2024			846						206						150
2025			854						214						148
2026			850						227						146
2027			840						236						145
2028-2031			4,066						1,306						708

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