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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Retirement Benefits [Abstract] |
Funded status of pension and other postretirement benefit plans | The funded status of the company’s pension and OPEB plans for 2023 and 2022 follows:
|  | Pension Benefits |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  |  |  |  | Other Benefits |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  |  |  |  | 2023 |  |  | 2022 |
Change in Benefit Obligation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at January 1 |  | $ | 9,713 |  |  | $ | 3,354 |  |  | $ | 12,966 |  |  | $ | 5,351 |  |  |  |  |  |  | $ | 1,938 |  |  | $ | 2,489 |
Service cost |  |  | 342 |  |  |  | 58 |  |  |  | 432 |  |  |  | 83 |  |  |  |  |  |  |  | 33 |  |  |  | 43 |
Interest cost |  |  | 448 |  |  |  | 193 |  |  |  | 318 |  |  |  | 137 |  |  |  |  |  |  |  | 97 |  |  |  | 60 |
Plan participants’ contributions |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  |  |  |  |  | 63 |  |  |  | 62 |
Plan amendments |  |  | — |  |  |  | 28 |  |  |  | 40 |  |  |  | 38 |  |  |  |  |  |  |  | — |  |  |  | 18 |
Actuarial (gain) loss |  |  | 603 |  |  |  | 17 |  |  |  | (2,753 | ) |  |  | (1,559 | ) |  |  |  |  |  |  | 103 |  |  |  | (509 | )
Foreign currency exchange rate changes |  |  | — |  |  |  | 180 |  |  |  | — |  |  |  | (423 | ) |  |  |  |  |  |  | 5 |  |  |  | (5 | )
Benefits paid |  |  | (714 | ) |  |  | (218 | ) |  |  | (1,290 | ) |  |  | (276 | ) |  |  |  |  |  |  | (222 | ) |  |  | (220 | )
Divestitures/Acquisitions |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |
Curtailment |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |
Special termination costs |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |
Benefit obligation at December 31 |  |  | 10,392 |  |  |  | 3,605 |  |  |  | 9,713 |  |  |  | 3,354 |  |  |  |  |  |  |  | 2,017 |  |  |  | 1,938 |
Change in Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at January 1 |  |  | 7,942 |  |  |  | 3,286 |  |  |  | 9,919 |  |  |  | 4,950 |  |  |  |  |  |  |  | — |  |  |  | — |
Actual return on plan assets |  |  | 889 |  |  |  | 46 |  |  |  | (1,851 | ) |  |  | (1,096 | ) |  |  |  |  |  |  | — |  |  |  | — |
Foreign currency exchange rate changes |  |  | — |  |  |  | 181 |  |  |  | — |  |  |  | (453 | ) |  |  |  |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 1,020 |  |  |  | 100 |  |  |  | 1,164 |  |  |  | 158 |  |  |  |  |  |  |  | 159 |  |  |  | 158 |
Plan participants’ contributions |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  |  |  |  |  | 63 |  |  |  | 62 |
Benefits paid |  |  | (714 | ) |  |  | (218 | ) |  |  | (1,290 | ) |  |  | (276 | ) |  |  |  |  |  |  | (222 | ) |  |  | (220 | )
Fair value of plan assets at December 31 |  |  | 9,137 |  |  |  | 3,398 |  |  |  | 7,942 |  |  |  | 3,286 |  |  |  |  |  |  |  | — |  |  |  | — |
Funded status at December 31 |  | $ | (1,255 | ) |  | $ | (207 | ) |  | $ | (1,771 | ) |  | $ | (68 | ) |  |  |  |  |  | $ | (2,017 | ) |  | $ | (1,938 | )
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, 2023 and 2022, include:
|  | Pension Benefits |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  |  |  |  | Other Benefits |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  |  |  |  | 2023 |  |  | 2022 |
Deferred charges and other assets |  | $ | 31 |  |  | $ | 703 |  |  | $ | 26 |  |  | $ | 759 |  |  |  |  |  |  | $ | — |  |  | $ | — |
Accrued liabilities |  |  | (145 | ) |  |  | (73 | ) |  |  | (210 | ) |  |  | (62 | ) |  |  |  |  |  |  | (154 | ) |  |  | (152 | )
Noncurrent employee benefit plans |  |  | (1,141 | ) |  |  | (837 | ) |  |  | (1,587 | ) |  |  | (765 | ) |  |  |  |  |  |  | (1,863 | ) |  |  | (1,786 | )
Net amount recognized at December 31 |  | $ | (1,255 | ) |  | $ | (207 | ) |  | $ | (1,771 | ) |  | $ | (68 | ) |  |  |  |  |  | $ | (2,017 | ) |  | $ | (1,938 | )
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 $3,792 and $3,446 at the end of 2023 and 2022, respectively. These amounts consisted of:
|  | Pension Benefits |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  |  |  |  | Other Benefits |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  |  |  |  | 2023 |  |  | 2022 |
Net actuarial loss |  | $ | 3,161 |  |  | $ | 823 |  |  | $ | 3,147 |  |  | $ | 659 |  |  |  |  |  |  | $ | (266 | ) |  | $ | (392 | )
Prior service (credit) costs |  |  | 37 |  |  |  | 126 |  |  |  | 40 |  |  |  | 107 |  |  |  |  |  |  |  | (89 | ) |  |  | (115 | )
Total recognized at December 31 |  | $ | 3,198 |  |  | $ | 949 |  |  | $ | 3,187 |  |  | $ | 766 |  |  |  |  |  |  | $ | (355 | ) |  | $ | (507 | )
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, 2023 and 2022, was:
|  | Pension Benefits |
|  | 2023 |  |  | 2022 |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |
Projected benefit obligations |  | $ | 1,203 |  |  | $ | 913 |  |  | $ | 1,322 |  |  | $ | 828 |
Accumulated benefit obligations |  |  | 1,108 |  |  |  | 773 |  |  |  | 1,135 |  |  |  | 671 |
Fair value of plan assets |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | 3 |
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 2023, 2022 and 2021 are shown in the table below:
|  | Pension Benefits |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  |  |  |  | Other Benefits |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  |  |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Net Periodic Benefit Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 342 |  |  | $ | 58 |  |  | $ | 432 |  |  | $ | 83 |  |  | $ | 450 |  |  | $ | 123 |  |  |  |  |  |  | $ | 33 |  |  | $ | 43 |  |  | $ | 43 |
Interest cost |  |  | 448 |  |  |  | 193 |  |  |  | 318 |  |  |  | 137 |  |  |  | 235 |  |  |  | 137 |  |  |  |  |  |  |  | 97 |  |  |  | 60 |  |  |  | 53 |
Expected return on plan assets |  |  | (557 | ) |  |  | (204 | ) |  |  | (624 | ) |  |  | (176 | ) |  |  | (596 | ) |  |  | (171 | ) |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service costs (credits) |  |  | 4 |  |  |  | 8 |  |  |  | 2 |  |  |  | 6 |  |  |  | 2 |  |  |  | 8 |  |  |  |  |  |  |  | (25 | ) |  |  | (27 | ) |  |  | (27) |
Recognized actuarial losses |  |  | 199 |  |  |  | 8 |  |  |  | 218 |  |  |  | 15 |  |  |  | 309 |  |  |  | 46 |  |  |  |  |  |  |  | (19 | ) |  |  | 13 |  |  |  | 16 |
Settlement losses |  |  | 56 |  |  |  | — |  |  |  | 363 |  |  |  | (6 | ) |  |  | 672 |  |  |  | 7 |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Curtailment losses (gains) |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | (5 | ) |  |  | — |  |  |  | (1 | ) |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Special termination benefits |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Acquisition/Divestiture losses (gains) |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Total net periodic benefit cost |  |  | 492 |  |  |  | 65 |  |  |  | 709 |  |  |  | 54 |  |  |  | 1,072 |  |  |  | 149 |  |  |  |  |  |  |  | 86 |  |  |  | 89 |  |  |  | 85 |
Changes Recognized in Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gain) loss during period |  |  | 270 |  |  |  | 172 |  |  |  | (279 | ) |  |  | (257 | ) |  |  | (725 | ) |  |  | (408 | ) |  |  |  |  |  |  | 108 |  |  |  | (514 | ) |  |  | (111) |
Amortization of actuarial loss |  |  | (255 | ) |  |  | (8 | ) |  |  | (581 | ) |  |  | (5 | ) |  |  | (981 | ) |  |  | (73 | ) |  |  |  |  |  |  | 19 |  |  |  | (13 | ) |  |  | (15) |
Prior service (credits) costs during period |  |  | — |  |  |  | 28 |  |  |  | 40 |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 1 |  |  |  | 18 |  |  |  | — |
Amortization of prior service (costs) credits |  |  | (4 | ) |  |  | (8 | ) |  |  | (2 | ) |  |  | (6 | ) |  |  | (2 | ) |  |  | (11 | ) |  |  |  |  |  |  | 25 |  |  |  | 27 |  |  |  | 27 |
Total changes recognized in other comprehensive income |  |  | 11 |  |  |  | 184 |  |  |  | (822 | ) |  |  | (230 | ) |  |  | (1,708 | ) |  |  | (492 | ) |  |  |  |  |  |  | 153 |  |  |  | (482 | ) |  |  | (99) |
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income |  | $ | 503 |  |  | $ | 249 |  |  | $ | (113 | ) |  | $ | (176 | ) |  | $ | (636 | ) |  | $ | (343 | ) |  |  |  |  |  | $ | 239 |  |  | $ | (393 | ) |  | $ | (14) |
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 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  |  |  |  |  |  |  | Other Benefits |
|  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  | U.S. |  |  | Int’l. |  |  |  |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Assumptions used to determine benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 5.0 % |  |  |  | 5.5 % |  |  |  | 5.2 % |  |  |  | 5.8 % |  |  |  | 2.8 % |  |  |  | 2.8 % |  |  |  |  |  |  |  | 5.1 % |  |  |  | 5.3 % |  |  |  | 2.9 % |
Rate of compensation increase |  |  | 4.5 % |  |  |  | 3.9 % |  |  |  | 4.5 % |  |  |  | 4.2 % |  |  |  | 4.5 % |  |  |  | 4.1 % |  |  |  |  |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Assumptions used to determine net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate for service cost |  |  | 5.2 % |  |  |  | 5.8 % |  |  |  | 3.6 % |  |  |  | 2.8 % |  |  |  | 3.0 % |  |  |  | 2.4 % |  |  |  |  |  |  |  | 5.4 % |  |  |  | 3.1 % |  |  |  | 3.0 % |
Discount rate for interest cost |  |  | 5.0 % |  |  |  | 5.8 % |  |  |  | 2.8 % |  |  |  | 2.8 % |  |  |  | 1.9 % |  |  |  | 2.4 % |  |  |  |  |  |  |  | 5.2 % |  |  |  | 2.4 % |  |  |  | 2.1 % |
Expected return on plan assets |  |  | 7.0 % |  |  |  | 6.1 % |  |  |  | 6.6 % |  |  |  | 3.9 % |  |  |  | 6.5 % |  |  |  | 3.5 % |  |  |  |  |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |
Rate of compensation increase |  |  | 4.5 % |  |  |  | 4.2 % |  |  |  | 4.5 % |  |  |  | 4.1 % |  |  |  | 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 2023 and 2022 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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. 1 |  | $ | 1,358 |  |  | $ | 1,358 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  | $ | 164 |  |  | $ | 164 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
International |  |  | 946 |  |  |  | 946 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 120 |  |  |  | 120 |  |  |  | — |  |  |  | — |  |  |  | — |
Collective Trusts/Mutual Funds 2 |  |  | 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 Funds 2 |  |  | 1,616 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,616 |  |  |  |  |  |  |  |  |  |  |  | 1,750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,750 |
Mixed Funds 3 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 87 |  |  |  | 14 |  |  |  | 73 |  |  |  | — |  |  |  | — |
Real Estate 4 |  |  | 1,184 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,184 |  |  |  |  |  |  |  |  |  |  |  | 198 |  |  |  | — |  |  |  | — |  |  |  | 38 |  |  |  | 160 |
Alternative Investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cash and Cash Equivalents |  |  | 200 |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 175 |  |  |  |  |  |  |  |  |  |  |  | 80 |  |  |  | 69 |  |  |  | 2 |  |  |  | — |  |  |  | 9 |
Other 5 |  |  | 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 |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. 1 |  | $ | 1,691 |  |  | $ | 1,689 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  |  |  |  |  |  |  |  |  | $ | 188 |  |  | $ | 188 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
International |  |  | 1,128 |  |  |  | 1,128 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 124 |  |  |  | 124 |  |  |  | — |  |  |  | — |  |  |  | — |
Collective Trusts/Mutual Funds 2 |  |  | 1,269 |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 1,265 |  |  |  |  |  |  |  |  |  |  |  | 95 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 89 |
Fixed Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government |  |  | 82 |  |  |  | — |  |  |  | 82 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 172 |  |  |  | 101 |  |  |  | 71 |  |  |  | — |  |  |  | — |
Corporate |  |  | 964 |  |  |  | — |  |  |  | 964 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 431 |  |  |  | 4 |  |  |  | 427 |  |  |  | — |  |  |  | — |
Bank Loans |  |  | 5 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage/Asset Backed |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 5 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |
Collective Trusts/Mutual Funds 2 |  |  | 2,293 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,293 |  |  |  |  |  |  |  |  |  |  |  | 1,819 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,819 |
Mixed Funds 3 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 85 |  |  |  | 8 |  |  |  | 77 |  |  |  | — |  |  |  | — |
Real Estate 4 |  |  | 1,087 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,087 |  |  |  |  |  |  |  |  |  |  |  | 147 |  |  |  | — |  |  |  | 24 |  |  |  | — |  |  |  | 123 |
Alternative Investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 9 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |
Cash and Cash Equivalents |  |  | 548 |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | 536 |  |  |  |  |  |  |  |  |  |  |  | 81 |  |  |  | 74 |  |  |  | 1 |  |  |  | — |  |  |  | 6 |
Other 5 |  |  | 69 |  |  |  | (2 | ) |  |  | 14 |  |  |  | 56 |  |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  | 242 |  |  |  | — |  |  |  | 11 |  |  |  | 81 |  |  |  | 150 |
Total at December 31, 2023 |  | $ | 9,137 |  |  | $ | 2,831 |  |  | $ | 1,067 |  |  | $ | 57 |  |  | $ | 5,182 |  |  |  |  |  |  |  |  |  |  | $ | 3,398 |  |  | $ | 505 |  |  | $ | 625 |  |  | $ | 81 |  |  | $ | 2,187 |
1 | There were no investments in the company’s common stock at December 31, 2023 or December 31, 2022.
2 | Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds.
3 | Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk.
4 | The 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.
5 | The “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 |  |  |  |  |  |  |  |  |  |
|  | U.S. |  |  | International |  |  | Real Estate |  |  | Other |  |  | Total |
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 |
Actual Return on Plan Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets held at the reporting date |  |  | 1 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | 6 |
Assets sold during the period |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | )
Purchases, Sales and Settlements |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Transfers in and/or out of Level 3 |  |  | — |  |  |  | — |  |  |  | (43 | ) |  |  | — |  |  |  | (43 | )
Total at December 31, 2023 |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 137 |  |  | $ | 138 |
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 |
2024 |  | $ | 886 |  |  | $ | 216 |  |  |  |  |  |  | $ | 154 |
2025 |  |  | 912 |  |  |  | 210 |  |  |  |  |  |  |  | 151 |
2026 |  |  | 904 |  |  |  | 222 |  |  |  |  |  |  |  | 149 |
2027 |  |  | 901 |  |  |  | 228 |  |  |  |  |  |  |  | 147 |
2028 |  |  | 877 |  |  |  | 240 |  |  |  |  |  |  |  | 146 |
2029-2033 |  |  | 4,248 |  |  |  | 1,266 |  |  |  |  |  |  |  | 716 |

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