XML 98 R62.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Retirement Benefits [Abstract] |
Net periodic benefit costs and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) | The benefit obligations, funded status and net periodic benefit costs related to these pension and other postretirement benefits were comprised of the following:
| December 31, 2024 |  | December 31, 2023
| Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
| U.S. Plans |  | Non- U.S. Plans |  | Total |  | U.S. Plans |  | Non- U.S. Plans |  | Total |  | U.S. Plans |  | Non- U.S. Plans |  | Total |  | U.S. Plans |  | Non- U.S. Plans |  | Total
| (In millions)
Benefit obligations | $ | 8,320 |  |  | $ | 757 |  |  | $ | 9,077 |  |  | $ | 693 |  |  | $ | 37 |  |  | $ | 730 |  |  | $ | 8,649 |  |  | $ | 849 |  |  | $ | 9,498 |  |  | $ | 723 |  |  | $ | 42 |  |  | $ | 765 |
Estimated fair value of plan assets | 7,370 |  |  | 466 |  |  | 7,836 |  |  | 1,302 |  |  | 27 |  |  | 1,329 |  |  | 7,786 |  |  | 484 |  |  | 8,270 |  |  | 1,307 |  |  | 27 |  |  | 1,334 |
Over (under) funded status | $ | (950) |  |  | $ | (291) |  |  | $ | (1,241) |  |  | $ | 609 |  |  | $ | (10) |  |  | $ | 599 |  |  | $ | (863) |  |  | $ | (365) |  |  | $ | (1,228) |  |  | $ | 584 |  |  | $ | (15) |  |  | $ | 569 |
Net periodic benefit costs | $ | 257 |  |  | $ | 60 |  |  | $ | 317 |  |  | $ | (43) |  |  | $ | 3 |  |  | $ | (40) |  |  | $ | 227 |  |  | $ | 64 |  |  | $ | 291 |  |  | $ | (41) |  |  | $ | 3 |  |  | $ | (38) |
The components of net periodic benefit costs and other changes in plan assets and benefit obligations recognized in OCI were as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
| (In millions)
Net periodic benefit costs: |  |  |  |  |  |  |  |  |  |  |
Service costs | $ | 156 |  |  | $ | 3 |  |  | $ | 143 |  |  | $ | 3 |  |  | $ | 187 |  |  | $ | 4 |
Interest costs | 460 |  |  | 40 |  |  | 474 |  |  | 43 |  |  | 328 |  |  | 34 |
Settlement and curtailment (gains) losses | 5 |  |  | 1 |  |  | 6 |  |  | — |  |  | 5 |  |  | — |
Expected return on plan assets | (460) |  |  | (56) |  |  | (480) |  |  | (54) |  |  | (516) |  |  | (55) |
Amortization of net actuarial (gains) losses | 167 |  |  | (28) |  |  | 159 |  |  | (30) |  |  | 129 |  |  | (25) |
Amortization of prior service costs (credit) | (11) |  |  | — |  |  | (11) |  |  | — |  |  | (11) |  |  | — |
Total net periodic benefit costs (credit) | 317 |  |  | (40) |  |  | 291 |  |  | (38) |  |  | 122 |  |  | (42) |
Other changes in plan assets and benefit obligations recognized in OCI: |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gains) losses | 141 |  |  | (20) |  |  | 250 |  |  | (41) |  |  | 2 |  |  | (191) |
Prior service costs (credit) | 3 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |
Amortization of net actuarial gains (losses) | (167) |  |  | 28 |  |  | (159) |  |  | 30 |  |  | (129) |  |  | 25 |
Amortization of prior service (costs) credit | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |
Settlement and curtailment (gains) losses | (5) |  |  | (1) |  |  | (6) |  |  | — |  |  | (5) |  |  | — |
Exchange rate changes | 2 |  |  | — |  |  | (2) |  |  | — |  |  | (7) |  |  | — |
Total recognized in OCI | (15) |  |  | 7 |  |  | 94 |  |  | (11) |  |  | (120) |  |  | (166) |
Total recognized in net periodic benefit costs and OCI | $ | 302 |  |  | $ | (33) |  |  | $ | 385 |  |  | $ | (49) |  |  | $ | 2 |  |  | $ | (208) |
Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation | Obligations and Funded Status
|  | December 31,
|  | 2024 |  | 2023
|  | Pension Benefits (1) |  | Other Postretirement Benefits |  | Pension Benefits (1) |  | Other Postretirement Benefits
|  | (In millions)
Change in benefit obligations: |  |  |  |  |  |  |  |
Benefit obligations at January 1, |  | $ | 9,498 |  |  | $ | 765 |  |  | $ | 9,298 |  |  | $ | 794 |
Service costs |  | 156 |  |  | 3 |  |  | 143 |  |  | 3 |
Interest costs |  | 460 |  |  | 40 |  |  | 474 |  |  | 43 |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Plan amendments |  | 3 |  |  | — |  |  | — |  |  | — |
Net actuarial (gains) losses (2) |  | (281) |  |  | (16) |  |  | 299 |  |  | (23) |
Acquisition, divestitures, settlements and curtailments |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (85) |  |  | (6) |  |  | (45) |  |  | 4 |
Benefit obligations at December 31, |  | 9,077 |  |  | 730 |  |  | 9,498 |  |  | 765 |
Change in plan assets: |  |  |  |  |  |  |  |
Estimated fair value of plan assets at January 1, |  | 8,270 |  |  | 1,334 |  |  | 8,294 |  |  | 1,303 |
Actual return on plan assets |  | 39 |  |  | 59 |  |  | 529 |  |  | 72 |
Acquisition, divestitures and settlements |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Employer contributions |  | 256 |  |  | (5) |  |  | 140 |  |  | 13 |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (55) |  |  | (3) |  |  | (22) |  |  | 2 |
Estimated fair value of plan assets at December 31, |  | 7,836 |  |  | 1,329 |  |  | 8,270 |  |  | 1,334 |
Over (under) funded status at December 31, |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
Amounts recognized on the consolidated balance sheets: |  |  |  |  |  |  |  |
Other assets |  | $ | 132 |  |  | $ | 907 |  |  | $ | 229 |  |  | $ | 886 |
Other liabilities |  | (1,373) |  |  | (308) |  |  | (1,457) |  |  | (317) |
Net amount recognized |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
AOCI: |  |  |  |  |  |  |  |
Net actuarial (gains) losses |  | $ | 2,331 |  |  | $ | (502) |  |  | $ | 2,360 |  |  | $ | (509) |
Prior service costs (credit) |  | (11) |  |  | — |  |  | (25) |  |  | — |
AOCI, before income tax |  | $ | 2,320 |  |  | $ | (502) |  |  | $ | 2,335 |  |  | $ | (509) |
Accumulated benefit obligation |  | $ | 8,969 |  |  | N/A |  | $ | 9,377 |  |  | N/A
__________________ (1)Includes nonqualified unfunded plans, for which the aggregate PBO was $1.0 billion at both December 31, 2024 and 2023. (2)For the year ended December 31, 2024, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of ($386) million and ($15) million, respectively, demographic assumptions of ($2) million and $0, respectively, and plan experience of $107 million and ($1) million, respectively. For the year ended December 31, 2023, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of $256 million and $8 million, respectively, demographic assumptions of ($54) million and ($8) million, respectively, and plan experience of $97 million and ($23) million, respectively.
Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation | Obligations and Funded Status
|  | December 31,
|  | 2024 |  | 2023
|  | Pension Benefits (1) |  | Other Postretirement Benefits |  | Pension Benefits (1) |  | Other Postretirement Benefits
|  | (In millions)
Change in benefit obligations: |  |  |  |  |  |  |  |
Benefit obligations at January 1, |  | $ | 9,498 |  |  | $ | 765 |  |  | $ | 9,298 |  |  | $ | 794 |
Service costs |  | 156 |  |  | 3 |  |  | 143 |  |  | 3 |
Interest costs |  | 460 |  |  | 40 |  |  | 474 |  |  | 43 |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Plan amendments |  | 3 |  |  | — |  |  | — |  |  | — |
Net actuarial (gains) losses (2) |  | (281) |  |  | (16) |  |  | 299 |  |  | (23) |
Acquisition, divestitures, settlements and curtailments |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (85) |  |  | (6) |  |  | (45) |  |  | 4 |
Benefit obligations at December 31, |  | 9,077 |  |  | 730 |  |  | 9,498 |  |  | 765 |
Change in plan assets: |  |  |  |  |  |  |  |
Estimated fair value of plan assets at January 1, |  | 8,270 |  |  | 1,334 |  |  | 8,294 |  |  | 1,303 |
Actual return on plan assets |  | 39 |  |  | 59 |  |  | 529 |  |  | 72 |
Acquisition, divestitures and settlements |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Employer contributions |  | 256 |  |  | (5) |  |  | 140 |  |  | 13 |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (55) |  |  | (3) |  |  | (22) |  |  | 2 |
Estimated fair value of plan assets at December 31, |  | 7,836 |  |  | 1,329 |  |  | 8,270 |  |  | 1,334 |
Over (under) funded status at December 31, |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
Amounts recognized on the consolidated balance sheets: |  |  |  |  |  |  |  |
Other assets |  | $ | 132 |  |  | $ | 907 |  |  | $ | 229 |  |  | $ | 886 |
Other liabilities |  | (1,373) |  |  | (308) |  |  | (1,457) |  |  | (317) |
Net amount recognized |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
AOCI: |  |  |  |  |  |  |  |
Net actuarial (gains) losses |  | $ | 2,331 |  |  | $ | (502) |  |  | $ | 2,360 |  |  | $ | (509) |
Prior service costs (credit) |  | (11) |  |  | — |  |  | (25) |  |  | — |
AOCI, before income tax |  | $ | 2,320 |  |  | $ | (502) |  |  | $ | 2,335 |  |  | $ | (509) |
Accumulated benefit obligation |  | $ | 8,969 |  |  | N/A |  | $ | 9,377 |  |  | N/A
__________________ (1)Includes nonqualified unfunded plans, for which the aggregate PBO was $1.0 billion at both December 31, 2024 and 2023. (2)For the year ended December 31, 2024, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of ($386) million and ($15) million, respectively, demographic assumptions of ($2) million and $0, respectively, and plan experience of $107 million and ($1) million, respectively. For the year ended December 31, 2023, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of $256 million and $8 million, respectively, demographic assumptions of ($54) million and ($8) million, respectively, and plan experience of $97 million and ($23) million, respectively.
Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation | Obligations and Funded Status
|  | December 31,
|  | 2024 |  | 2023
|  | Pension Benefits (1) |  | Other Postretirement Benefits |  | Pension Benefits (1) |  | Other Postretirement Benefits
|  | (In millions)
Change in benefit obligations: |  |  |  |  |  |  |  |
Benefit obligations at January 1, |  | $ | 9,498 |  |  | $ | 765 |  |  | $ | 9,298 |  |  | $ | 794 |
Service costs |  | 156 |  |  | 3 |  |  | 143 |  |  | 3 |
Interest costs |  | 460 |  |  | 40 |  |  | 474 |  |  | 43 |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Plan amendments |  | 3 |  |  | — |  |  | — |  |  | — |
Net actuarial (gains) losses (2) |  | (281) |  |  | (16) |  |  | 299 |  |  | (23) |
Acquisition, divestitures, settlements and curtailments |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (85) |  |  | (6) |  |  | (45) |  |  | 4 |
Benefit obligations at December 31, |  | 9,077 |  |  | 730 |  |  | 9,498 |  |  | 765 |
Change in plan assets: |  |  |  |  |  |  |  |
Estimated fair value of plan assets at January 1, |  | 8,270 |  |  | 1,334 |  |  | 8,294 |  |  | 1,303 |
Actual return on plan assets |  | 39 |  |  | 59 |  |  | 529 |  |  | 72 |
Acquisition, divestitures and settlements |  | (36) |  |  | (2) |  |  | (35) |  |  | — |
Plan participants’ contributions |  | — |  |  | 29 |  |  | — |  |  | 30 |
Employer contributions |  | 256 |  |  | (5) |  |  | 140 |  |  | 13 |
Benefits paid |  | (638) |  |  | (83) |  |  | (636) |  |  | (86) |
Effect of foreign currency translation |  | (55) |  |  | (3) |  |  | (22) |  |  | 2 |
Estimated fair value of plan assets at December 31, |  | 7,836 |  |  | 1,329 |  |  | 8,270 |  |  | 1,334 |
Over (under) funded status at December 31, |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
Amounts recognized on the consolidated balance sheets: |  |  |  |  |  |  |  |
Other assets |  | $ | 132 |  |  | $ | 907 |  |  | $ | 229 |  |  | $ | 886 |
Other liabilities |  | (1,373) |  |  | (308) |  |  | (1,457) |  |  | (317) |
Net amount recognized |  | $ | (1,241) |  |  | $ | 599 |  |  | $ | (1,228) |  |  | $ | 569 |
AOCI: |  |  |  |  |  |  |  |
Net actuarial (gains) losses |  | $ | 2,331 |  |  | $ | (502) |  |  | $ | 2,360 |  |  | $ | (509) |
Prior service costs (credit) |  | (11) |  |  | — |  |  | (25) |  |  | — |
AOCI, before income tax |  | $ | 2,320 |  |  | $ | (502) |  |  | $ | 2,335 |  |  | $ | (509) |
Accumulated benefit obligation |  | $ | 8,969 |  |  | N/A |  | $ | 9,377 |  |  | N/A
__________________ (1)Includes nonqualified unfunded plans, for which the aggregate PBO was $1.0 billion at both December 31, 2024 and 2023. (2)For the year ended December 31, 2024, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of ($386) million and ($15) million, respectively, demographic assumptions of ($2) million and $0, respectively, and plan experience of $107 million and ($1) million, respectively. For the year ended December 31, 2023, significant sources of actuarial (gains) losses for pension and other postretirement benefits include the impact of changes to the financial assumptions of $256 million and $8 million, respectively, demographic assumptions of ($54) million and ($8) million, respectively, and plan experience of $97 million and ($23) million, respectively.
Accumulated benefit obligations in excess of fair value of plan assets | Information regarding pension plans and other postretirement benefit plans with PBOs and/or accumulated benefit obligations (“ABO”) or APBO in excess of plan assets was as follows at:
| December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
| PBO Exceeds Estimated Fair Value of Plan Assets |  | ABO Exceeds Estimated Fair Value of Plan Assets |  | APBO Exceeds Estimated Fair Value of Plan Assets
| (In millions)
PBO | $ | 1,388 |  |  | $ | 1,474 |  |  | $ | 1,376 |  |  | $ | 1,459 |  |  | N/A |  | N/A
ABO | $ | 1,337 |  |  | $ | 1,411 |  |  | $ | 1,337 |  |  | $ | 1,411 |  |  | N/A |  | N/A
APBO | N/A |  | N/A |  | N/A |  | N/A |  | $ | 549 |  |  | $ | 580 |
Estimated fair value of plan assets | $ | 12 |  |  | $ | 15 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 244 |  |  | $ | 266 |
Defined benefit plan pension plans with projected benefit obligations in excess of plan assets | Information regarding pension plans and other postretirement benefit plans with PBOs and/or accumulated benefit obligations (“ABO”) or APBO in excess of plan assets was as follows at:
| December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
| PBO Exceeds Estimated Fair Value of Plan Assets |  | ABO Exceeds Estimated Fair Value of Plan Assets |  | APBO Exceeds Estimated Fair Value of Plan Assets
| (In millions)
PBO | $ | 1,388 |  |  | $ | 1,474 |  |  | $ | 1,376 |  |  | $ | 1,459 |  |  | N/A |  | N/A
ABO | $ | 1,337 |  |  | $ | 1,411 |  |  | $ | 1,337 |  |  | $ | 1,411 |  |  | N/A |  | N/A
APBO | N/A |  | N/A |  | N/A |  | N/A |  | $ | 549 |  |  | $ | 580 |
Estimated fair value of plan assets | $ | 12 |  |  | $ | 15 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 244 |  |  | $ | 266 |
Net periodic benefit costs and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) | The components of net periodic benefit costs and other changes in plan assets and benefit obligations recognized in OCI were as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
| (In millions)
Net periodic benefit costs: |  |  |  |  |  |  |  |  |  |  |
Service costs | $ | 156 |  |  | $ | 3 |  |  | $ | 143 |  |  | $ | 3 |  |  | $ | 187 |  |  | $ | 4 |
Interest costs | 460 |  |  | 40 |  |  | 474 |  |  | 43 |  |  | 328 |  |  | 34 |
Settlement and curtailment (gains) losses | 5 |  |  | 1 |  |  | 6 |  |  | — |  |  | 5 |  |  | — |
Expected return on plan assets | (460) |  |  | (56) |  |  | (480) |  |  | (54) |  |  | (516) |  |  | (55) |
Amortization of net actuarial (gains) losses | 167 |  |  | (28) |  |  | 159 |  |  | (30) |  |  | 129 |  |  | (25) |
Amortization of prior service costs (credit) | (11) |  |  | — |  |  | (11) |  |  | — |  |  | (11) |  |  | — |
Total net periodic benefit costs (credit) | 317 |  |  | (40) |  |  | 291 |  |  | (38) |  |  | 122 |  |  | (42) |
Other changes in plan assets and benefit obligations recognized in OCI: |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gains) losses | 141 |  |  | (20) |  |  | 250 |  |  | (41) |  |  | 2 |  |  | (191) |
Prior service costs (credit) | 3 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |
Amortization of net actuarial gains (losses) | (167) |  |  | 28 |  |  | (159) |  |  | 30 |  |  | (129) |  |  | 25 |
Amortization of prior service (costs) credit | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |
Settlement and curtailment (gains) losses | (5) |  |  | (1) |  |  | (6) |  |  | — |  |  | (5) |  |  | — |
Exchange rate changes | 2 |  |  | — |  |  | (2) |  |  | — |  |  | (7) |  |  | — |
Total recognized in OCI | (15) |  |  | 7 |  |  | 94 |  |  | (11) |  |  | (120) |  |  | (166) |
Total recognized in net periodic benefit costs and OCI | $ | 302 |  |  | $ | (33) |  |  | $ | 385 |  |  | $ | (49) |  |  | $ | 2 |  |  | $ | (208) |
Assumptions used in determining benefit obligations and net periodic benefit costs | Assumptions used in determining benefit obligations for the U.S. plans were as follows:
| Pension Benefits |  | Other Postretirement Benefits
December 31, 2024 |  |  |  |  |
Weighted average discount rate | 5.70% |  | 5.80%
Weighted average interest crediting rate | 4.31% |  | N/A
Rate of compensation increase | 2.50% | - | 8.00% |  | N/A
December 31, 2023 |  |  |  |  |
Weighted average discount rate | 5.25% |  | 5.35%
Weighted average interest crediting rate | 4.00% |  | N/A
Rate of compensation increase | 2.50% | - | 8.00% |  | N/A
Assumptions used in determining net periodic benefit costs for the U.S. plans were as follows:
| Pension Benefits |  | Other Postretirement Benefits
Year Ended December 31, 2024 |  |  |  |  |
Weighted average discount rate | 5.25% |  | 5.35%
Weighted average interest crediting rate | 4.30% |  | N/A
Weighted average expected rate of return on plan assets | 6.00% |  | 4.25%
Rate of compensation increase | 2.50% | - | 8.00% |  | N/A
Year Ended December 31, 2023 |  |  |  |  |
Weighted average discount rate | 5.60% |  | 5.70%
Weighted average interest crediting rate | 4.00% |  | N/A
Weighted average expected rate of return on plan assets | 6.25% |  | 4.25%
Rate of compensation increase | 2.50% | - | 8.00% |  | N/A
Year Ended December 31, 2022 |  |  |  |  |
Weighted average discount rate | 2.95% |  | 3.05%
Weighted average interest crediting rate | 3.43% |  | N/A
Weighted average expected rate of return on plan assets | 5.00% |  | 3.86%
Rate of compensation increase | 2.50% | - | 8.00% |  | N/A
Assumed healthcare costs trend rates | The assumed healthcare costs trend rates used in measuring the APBO and net periodic benefit costs were as follows:
| December 31,
| 2024 |  | 2023
| Before Age 65 |  | Age 65 and older |  | Before Age 65 |  | Age 65 and older
Following year | 6.1 | % |  | 8.3 | % |  | 6.2 | % |  | 4.5 | %
Ultimate rate to which cost increase is assumed to decline | 3.7 | % |  | 4.5 | % |  | 3.7 | % |  | 4.5 | %
Year in which the ultimate trend rate is reached | 2074 |  | 2089 |  | 2074 |  | 2102
Plan Assets | The table below summarizes the actual weighted average allocation of the estimated fair value of total plan assets by asset class at December 31 for the years indicated and the approved target allocation by major asset class at December 31, 2024 for the Invested Plans:
|  | December 31,
|  | 2024 |  | 2023
|  | U.S. Pension Benefits |  | U.S. Other Postretirement Benefits (1) |  | U.S. Pension Benefits |  | U.S. Other Postretirement Benefits (1)
|  | Target |  | Actual Allocation |  | Target |  | Actual Allocation |  | Actual Allocation |  | Actual Allocation
Asset Class |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities AFS |  | 85 | % |  | 83 | % |  | 95 | % |  | 94 | % |  | 82 | % |  | 94 | %
Equity securities (2) |  | 7 | % |  | 7 | % |  | 5 | % |  | 6 | % |  | 6 | % |  | 6 | %
Alternative securities (3) |  | 8 | % |  | 10 | % |  | — | % |  | — | % |  | 12 | % |  | — | %
Total assets |  |  |  | 100 | % |  |  |  | 100 | % |  | 100 | % |  | 100 | %
__________________ (1)U.S. other postretirement benefits do not reflect postretirement life’s plan assets invested in fixed maturity securities AFS. (2)Equity securities percentage includes derivative assets. (3)Alternative securities primarily include private equity and real estate funds. The pension and other postretirement plan assets measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy are summarized as follows:
|  | December 31, 2024
|  | Pension Benefits |  | Other Postretirement Benefits
|  | Fair Value Hierarchy |  |  |  | Fair Value Hierarchy |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value
|  | (In millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities AFS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | — |  |  | $ | 3,025 |  |  | $ | 56 |  |  | $ | 3,081 |  |  | $ | — |  |  | $ | 175 |  |  | $ | — |  |  | $ | 175 |
U.S. government bonds |  | 1,693 |  |  | 30 |  |  | — |  |  | 1,723 |  |  | 102 |  |  | 7 |  |  | — |  |  | 109 |
Foreign bonds |  | — |  |  | 729 |  |  | 2 |  |  | 731 |  |  | — |  |  | 38 |  |  | — |  |  | 38 |
Federal agencies |  | 96 |  |  | 83 |  |  | — |  |  | 179 |  |  | 1 |  |  | 1 |  |  | — |  |  | 2 |
Municipals |  | — |  |  | 79 |  |  | — |  |  | 79 |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Short-term investments |  | 2 |  |  | 168 |  |  | — |  |  | 170 |  |  | 469 |  |  | 406 |  |  | — |  |  | 875 |
Other (1) |  | 173 |  |  | 271 |  |  | 2 |  |  | 446 |  |  | 10 |  |  | 56 |  |  | — |  |  | 66 |
Total fixed maturity securities AFS |  | 1,964 |  |  | 4,385 |  |  | 60 |  |  | 6,409 |  |  | 582 |  |  | 688 |  |  | — |  |  | 1,270 |
Equity securities |  | 489 |  |  | 198 |  |  | 8 |  |  | 695 |  |  | 58 |  |  | — |  |  | — |  |  | 58 |
Other investments |  | 42 |  |  | 5 |  |  | 680 |  |  | 727 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Derivative assets |  | 4 |  |  | 1 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets |  | $ | 2,499 |  |  | $ | 4,589 |  |  | $ | 748 |  |  | $ | 7,836 |  |  | $ | 641 |  |  | $ | 688 |  |  | $ | — |  |  | $ | 1,329 |
|  | December 31, 2023
|  | Pension Benefits |  | Other Postretirement Benefits
|  | Fair Value Hierarchy |  |  |  | Fair Value Hierarchy |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value
|  | (In millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities AFS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | — |  |  | $ | 3,029 |  |  | $ | 54 |  |  | $ | 3,083 |  |  | $ | — |  |  | $ | 167 |  |  | $ | — |  |  | $ | 167 |
U.S. government bonds |  | 1,537 |  |  | 38 |  |  | — |  |  | 1,575 |  |  | 52 |  |  | 6 |  |  | — |  |  | 58 |
Foreign bonds |  | — |  |  | 808 |  |  | 2 |  |  | 810 |  |  | — |  |  | 46 |  |  | — |  |  | 46 |
Federal agencies |  | 62 |  |  | 141 |  |  | — |  |  | 203 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Municipals |  | — |  |  | 147 |  |  | — |  |  | 147 |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Short-term investments |  | 13 |  |  | 184 |  |  | — |  |  | 197 |  |  | 554 |  |  | 403 |  |  | — |  |  | 957 |
Other (1) |  | 114 |  |  | 577 |  |  | 8 |  |  | 699 |  |  | 4 |  |  | 33 |  |  | — |  |  | 37 |
Total fixed maturity securities AFS |  | 1,726 |  |  | 4,924 |  |  | 64 |  |  | 6,714 |  |  | 611 |  |  | 663 |  |  | — |  |  | 1,274 |
Equity securities |  | 436 |  |  | 162 |  |  | 12 |  |  | 610 |  |  | 59 |  |  | — |  |  | — |  |  | 59 |
Other investments |  | 41 |  |  | — |  |  | 828 |  |  | 869 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Derivative assets |  | 10 |  |  | 67 |  |  | — |  |  | 77 |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets |  | $ | 2,213 |  |  | $ | 5,153 |  |  | $ | 904 |  |  | $ | 8,270 |  |  | $ | 671 |  |  | $ | 663 |  |  | $ | — |  |  | $ | 1,334 |
__________________ (1)Other primarily includes money market securities, mortgage-backed securities, collateralized mortgage obligations and ABS & CLO.
Rollforward fair value measurement using significant unobservable outputs (level 3) | A rollforward of all pension and other postretirement benefit plan assets measured at estimated fair value on a recurring basis using significant unobservable (Level 3) inputs was as follows:
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|  | Fixed Maturity Securities AFS: |  |  |  |  |  |
|  | Foreign Bonds |  | Corporate |  | Other |  | Equity Securities |  | Other Investments |  | Derivative Assets
|  | (In millions)
Balance, January 1, 2023 |  | $ | — |  |  | $ | 55 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 855 |  |  | $ | 4 |
Realized gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | — |
Unrealized gains (losses) |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | (51) |  |  | (1) |
Purchases, sales, issuances and settlements, net |  | — |  |  | 2 |  |  | — |  |  | 8 |  |  | 25 |  |  | (3) |
Transfers into and/or out of Level 3 |  | 2 |  |  | (4) |  |  | 5 |  |  | — |  |  | — |  |  | — |
Balance, December 31, 2023 |  | $ | 2 |  |  | $ | 54 |  |  | $ | 8 |  |  | $ | 12 |  |  | $ | 828 |  |  | $ | — |
Realized gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Unrealized gains (losses) |  | — |  |  | (2) |  |  | (1) |  |  | — |  |  | (24) |  |  | — |
Purchases, sales, issuances and settlements, net |  | — |  |  | 16 |  |  | (4) |  |  | (4) |  |  | (124) |  |  | — |
Transfers into and/or out of Level 3 |  | — |  |  | (12) |  |  | (1) |  |  | — |  |  | — |  |  | — |
Balance, December 31, 2024 |  | $ | 2 |  |  | $ | 56 |  |  | $ | 2 |  |  | $ | 8 |  |  | $ | 680 |  |  | $ | — |
Defined benefit plan estimated future benefit payments | Gross benefit payments for the next 10 years, which reflect expected future service where appropriate, are expected to be as follows:
|  | Pension Benefits |  | Other Postretirement Benefits
|  | (In millions)
2025 |  | $ | 702 |  |  | $ | 61 |
2026 |  | $ | 714 |  |  | $ | 59 |
2027 |  | $ | 724 |  |  | $ | 59 |
2028 |  | $ | 739 |  |  | $ | 59 |
2029 |  | $ | 767 |  |  | $ | 59 |
2030-2034 |  | $ | 3,690 |  |  | $ | 274 |

X
- Definition Tabular disclosure of the amounts in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost, showing separately the net gain or loss, net prior service cost or credit, and net transition asset or obligation. + References No definition available. + Details
Name: | met_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | met_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (l) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration