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Retirement Plans and Profit Sharing Arrangements (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost

All components of the net periodic benefit cost are recorded in General and administrative expense and were as follows:

			Years Ended December 31,
			2024						2023						2022
			(in millions)
Service cost			$	28					$	29					$	43
Interest cost			66						65						39
Expected return on plan assets			(79)						(76)						(70)
Amortization of prior service credits			(1)						(1)						(1)
Amortization of net loss			—						—						18
Other			1						3						3
Net periodic benefit cost			$	15					$	20					$	32

Reconciliation of changes in benefit obligation

The following table provides a reconciliation of changes in the benefit obligation:

			Pension Plans												Other Postretirement Plans
			2024						2023						2024						2023
			(in millions)
Benefit obligation at January 1			$	1,355					$	1,256					$	11					$	11
Service cost			28						29						—						—
Interest cost			66						65						1						1
Benefits paid			(28)						(23)						(1)						(1)
Actuarial (gain) loss			(79)						52						—						—
Divestiture			(18)						—						—						—
Settlements			(50)						(45)						—						—
Foreign currency rate changes			(9)						21						—						—
Benefit obligation at December 31			$	1,265					$	1,355					$	11					$	11

Reconciliation of changes in fair value of assets

The following table provides a reconciliation of changes in the fair value of assets:

			Pension Plans
			2024						2023
			(in millions)
Fair value of plan assets, January 1			$	1,292					$	1,142
Actual return on plan assets			17						136
Employer contributions			50						56
Benefits paid			(28)						(23)
Divestiture			(18)						—
Settlements			(50)						(45)
Foreign currency rate changes			(10)						26
Fair value of plan assets, December 31			$	1,253					$	1,292

Schedule of amounts recognized in Consolidated Balance Sheets

The following table provides the amounts recognized in the Consolidated Balance Sheets as of December 31, which equal the funded status of the plans:

			Pension Plans												Other Postretirement Plans
			2024						2023						2024						2023
			(in millions)
Benefit liability			$	(139)					$	(169)					$	(11)					$	(11)
Benefit asset			127						106						—						—
Net amount recognized			$	(12)					$	(63)					$	(11)					$	(11)

Schedule of pension plans with benefit obligations in excess of plan assets

The following table provides information for pension plans with benefit obligations in excess of plan assets:

			December 31,
			2024						2023
			(in millions)
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation			$	158					$	945
Fair value of plan assets			27						803
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation			$	166					$	972
Fair value of plan assets			27						803

Schedule of weighted average assumptions used to determine benefit obligations and net periodic benefit cost of pension plans

The weighted average assumptions used to determine benefit obligations were as follows:

			Pension Plans												Other Postretirement Plans
			2024						2023						2024						2023
Discount rates			5.57		%				4.98		%				5.38		%				5.07		%
Rates of increase in compensation levels			3.64						3.64						N/A						N/A
Interest crediting rates for cash balance plans			5.00						5.00						N/A						N/A

N/A  Not Applicable

The weighted average assumptions used to determine net periodic benefit cost of pension plans were as follows:

			2024						2023						2022
Discount rates			4.98		%				5.30		%				2.46		%
Rates of increase in compensation levels			3.64						3.72						3.69
Expected long-term rates of return on assets			5.90						6.04						4.82
Interest crediting rates for cash balance plans			5.00						5.00						5.00

Schedule of pension plan assets measured at fair value on a recurring basis

The following tables present the Company’s pension plans assets measured at fair value on a recurring basis:

Asset Category						December 31, 2024
						Level 1						Level 2						Level 3						Total
						(in millions)
Equity securities:
U.S. small cap stocks						$	46					$	6					$	—					$	52
Registered investment companies						69						—						—						69
Insurance contracts						—						—						21						21
Cash equivalents at NAV																								7			(1)
Collective investment funds at NAV																								1,057			(1)
Real estate investment trusts at NAV																								20			(1)
Hedge funds at NAV																								27			(1)
Total						$	115					$	6					$	21					$	1,253

						December 31, 2023
Asset Category						Level 1						Level 2						Level 3						Total
						(in millions)
Equity securities:
U.S. small cap stocks						$	90					$	7					$	—					$	97
Registered investment companies						90						—						—						90
Insurance contracts						—						—						23						23
Cash equivalents at NAV																								3			(1)
Collective investment funds at NAV																								859			(1)
Real estate investment trusts at NAV																								28			(1)
Hedge funds at NAV																								24			(1)
Pooled pension funds at NAV																								168			(1)
Total						$	180					$	7					$	23					$	1,292

(1) Amounts are comprised of certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient and have not been classified in the fair value hierarchy.

Schedule of amounts in AOCI to be recognized

The following table presents the amounts recognized in AOCI, net of tax, as of December 31, 2024 but not recognized as components of net periodic benefit cost:

			Pension Plans						Other Postretirement Plans
			(in millions)
Unrecognized actuarial gain (loss)			$	(47)					$	2

Schedule of expected pension plan benefit payments to retirees

The Company’s pension plans expect to make benefit payments to retirees as follows:

			Pension Plans						Other Postretirement Plans
			(in millions)
2025			$	81					$	1
2026			89						1
2027			88						1
2028			93						1
2029			101						1
2030-2034			512						4

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